ECOWAS REVISED TREATY a) study monetary and financial developments in the region; b) harmonise their monetary, financial and payments policies; c) facilitate the liberalisation of intra-regional payments transactions and, as an interim measure, ensure limited convertibility of currencies; d) promotethe role of commercialbanks in intra-community trade financing; e) improve the multilateral system for clearing of payments transactions between Member States, and introduce a credit and guarantee fund mechanism; f) take necessary measures to promote the activities of the West Africa MonetaryAgency in order to ensureconvertibilityof currencies and creation of a single currency zone; g) establish a Community Central Bank and a common currency zone. ARTICLE 52 COMMITTEE OF WEST AFRICAN CENTRAL BANKS 1. There is hereby established a Committee of WestAfrican Central banks comprising the Governors of Central Banks of Member States. This Committee shall, in accordance with the provisions of this Treaty, prepare its own rules of procedure. 2. The Committee shall, from time to time, make recommendations to the Council on the operation of the clearing system of payments and other monetary issues within the Community. ARTICLE 53 MOVEMENT OF CAPITAL AND CAPITAL ISSUES COMMITTEE 1. For the purpose of ensuring the free movement of capital between Member States in accordance with the objectives of this Treaty, there is hereby established a Capital Issues Committee which shall comprise one representative of each of the Member States and which shall, subject to the provisions of this Treaty, prepare its own rules of procedure. 2. Member States shall, in appointing their representatives referred to in paragraph 1 of this Article, designate persons with financial, commercial or banking experience and qualifications. 3. The Capital Issues Committee, in the performance of the duties assigned to it under paragraph 1 of this Article, shall: a) ensure the unimpeded flow of capital within the Community through: 33