The Senate met on Friday, October 31 in plenary session to review and ratify ordinance No. 006/PR/2025 of 5 August 2025 relating to banking secrecy. The session was held under the chairmanship of Dr. Haroun Kabadi.

Held in the presence of the Secretary of State for Finance and to the Budget, Ali Djadda Kampard, and the Deputy Secretary General of government, Saleh Bourma Ali, the session allowed Mr. Kappard to defend the text stressing the need to better control the money supply by traffic in Chad. According to him, the national economy, largely dominated by trade and the informal sector, suffers from a lack of visibility on flows financials. The latter indicated that “billions circulate without formal declaration, which hampers transfers and investments.”

The Secretary of State recognized the existence of delays in transfer procedures, due in part to bureaucracy in Within the State Bank of Central Africa (BEAC) . However, he has recalled that these rules follow the guidelines in Economic and monetary community of Central Africa (CEMAC) and the Banking Commission of Central Africa (COBAC). Chad, he said, must comply with these regional standards to combat money laundering and financing of terrorism.

After much debate, the bill was adopted by a large majority, with 63 votes in favour, none against and one abstention. This ratification consolidates the legal framework for banking secrecy while aligning Chad on regional and international standards in the fight against financial opacity. It aims to encourage the formalization of the economy and to attract more investments, despite the continuing challenges associated with informal sector.