Regulatory Alerts2015-05-08
Instruction No. 006-05-2015 of May 8, 2015 on the Approval of Tariff Schedules for Credit Information Bureaus
The Governor of the Central Bank of West African States (BCEAO) issued Instruction No. 006-05-2015 to establish the approval conditions and communication procedures for tariff schedules of Credit Information Bureaus. The regulation mandates that these bureaus submit annual, cost-transparent tariff proposals by September 30, accompanied by projected financial statements, and automatically approves them if the BCEAO does not respond within forty-five days. It further requires permanent public display of approved schedules, mandates publication in a major UMOA newspaper upon any modification, and subjects non-compliance to sanctions under the governing Uniform Act.
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