Regulatory Alerts2002-09-19
Regulation No. 15/2002/CM/UEMOA on Payment Systems in the Member States of UEMOA
The UEMOA Council of Ministers issued Regulation No. 15/2002/CM/UEMOA to establish a comprehensive legal framework for payment systems across its member states. The regulation defines key financial and electronic terms, mandates minimum banking services for account holders, and enforces strict security standards for electronic signatures and data preservation. It further establishes clear operational rules for interbank clearing, remote payments, and transaction thresholds to ensure system stability, enforceability against third parties, and consumer protection.
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