This article highlights the adverse effects, in particular financial exclusion, stemming from the regulation of the banking industry in the Central African Economic and Monetary Community (CEMAC). After outlining the regulatory system in force, which was set up in 1992 with the creation of COBAC, it goes on to show that the efforts made by banks to adapt to regulations influence their strategic choices resulting in two forms of financial exclusion: the first induced by a bank’s location strategy and the second generated by the policy of providing financial services.