Regulatory Alerts2012-12-14
Decision No. CM/UMOA/020/12/2012 Adopting the Uniform Law Project on Disputes Concerning Infractions to the Regulation of External Financial Relations and Two Application Decrees
The Council of Ministers of the West African Monetary Union (UMOA) adopted a uniform law project and two application decrees to regulate disputes and infractions related to external financial relations among member states. This decision mandates that UMOA member states incorporate these legal instruments into their respective internal legal orders. The Governor of the Central Bank of West African States (BCEAO) is tasked with monitoring the implementation of this decision, which entered into force upon its signature on December 14, 2012.
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