Regulatory Alerts2025-08-01
Instruction No. 09-07-2025 RFE on Opening Conditions and Operational Modalities for Non-Resident Foreign Accounts
The BCEAO, UMOA Banking Commission, and Ministry of Finance conduct periodic controls to ensure approved intermediaries comply with this Instruction, sanctioning infractions under the UMOA Uniform Law on external financial relations. All procedures governed by this Instruction must strictly adhere to existing anti-money laundering, counter-terrorist financing, and weapons proliferation regulations across UMOA member states. Repealing prior rules including the July 2011 directive, this Instruction establishes updated opening conditions and operational modalities for non-resident foreign accounts, resident domestic currency accounts, and resident foreign accounts, taking effect on August 1, 2025.
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