Regulatory Alerts2025-12-29
Decision No. 19 of December 29, 2025 Fixing the Usury Rate in UMOA Member States
The Council of Ministers of the West African Monetary Union (UMOA) has issued Decision No. 19 to establish fixed usury rates for financial institutions across member states, setting the limit at fourteen percent (14%) per annum for banks and twenty-four percent (24%) per annum for credit financial institutions, microfinance entities, and other economic agents. The Central Bank of West African States (BCEAO) must communicate these rates to national finance ministers and publish them in the Official Gazette or legal newspapers. This binding Decision repeals all prior usury provisions and enters into force on 1 June 2026, with implementation oversight assigned to the BCEAO, national finance ministers, and the UMOA Banking Commission.
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