In world organizations and regional finance, when was the Bank of Central African States formed as a common central bank for Central African countries?

Introduction / Context:
The Bank of Central African States is a regional central bank that serves several countries in Central Africa. This general knowledge question checks whether you remember the approximate historical timeline of when this important regional financial institution was formed. For competitive exams and interviews, questions on the formation year of key world organizations are very common, so knowing the year 1973 for the Bank of Central African States is useful background information.

Given Data / Assumptions:

• The institution in question is the Bank of Central African States, often abbreviated as BEAC in French.
• It acts as a common central bank for a group of Central African countries that share a monetary union.
• The options provide four possible formation years: 1974, 1978, 1973, and 1979.
• We assume the question refers to the official formation of the regional central bank as recognized in standard general knowledge sources.

Concept / Approach:
To answer this type of question, you mainly need factual recall. The Bank of Central African States was created in the early 1970s when several Central African countries decided to share a common currency and monetary policy. The key is to remember that the commonly accepted formation year is 1973, even though preparatory agreements and earlier arrangements occurred slightly before that. In exams, you should match the most widely accepted year in standard reference books with the options given.

Step-by-Step Solution:
Step 1: Identify the institution mentioned in the question as the Bank of Central African States, a regional central bank for Central African nations. Step 2: Recall that this bank emerged in the early 1970s, following monetary cooperation among Cameroon, Central African Republic, Chad, Congo, and Gabon. Step 3: From general knowledge references, remember that 1973 is widely cited as the year when the Bank of Central African States was formed as a regional central bank. Step 4: Compare this factual year, 1973, with the answer choices 1974, 1978, 1973, and 1979. Step 5: Select 1973 as the correct answer, because it matches the standard formation year associated with the institution.
Verification / Alternative check:
A quick way to verify is to recall related points: the Bank of Central African States is linked to the Central African Economic and Monetary Community, which also took shape in the early 1970s. Most exam guides and yearbook style compilations list 1973 as the formation year of the bank. Other options such as 1974, 1978, or 1979 do not appear in standard references as the official starting year of this regional central bank, which supports the answer 1973.

Why Other Options Are Wrong:
1974: This year is close to the correct period but does not match the commonly accepted formation year of the Bank of Central African States.
1978: This year is too late compared to the early 1970s phase when the bank was formed and is not supported by standard sources.
1979: This year is also incorrect and corresponds to a time when the institution was already functioning for several years, not when it was formed.

Common Pitfalls:
A common mistake is to confuse the formation year of the Bank of Central African States with dates related to later monetary reforms or with the establishment of other regional African financial institutions. Another frequent error is to choose a nearby year like 1974 just because it seems plausible without verifying against known facts. Students should try to align these dates with key events in African regional integration during the early 1970s to reduce guesswork.

Final Answer:
The Bank of Central African States was formed as a regional central bank in 1973.