Regulatory Alerts2020-05-04
BCEAO Provisions for Promoting Electronic Payments Extended Amid COVID-19
The Central Bank of West African States (BCEAO) has extended its electronic payment promotion measures for thirty days, effective May 3, 2020, to address the ongoing COVID-19 pandemic. This extension applies to all banks and electronic money institutions within the West African Economic and Monetary Union, maintaining the regulatory framework established by Notice No. 004-03-2020 dated April 1, 2020. The renewed provisions continue to support electronic money issuers by preserving existing operational and financial incentives throughout the specified period.
[Logo: BCEAO - CENTRAL BANK OF WEST AFRICAN STATES]
The Governor
NOTICE NO. 009 – 05 – 2020 EXTENDING MEASURES TO PROMOTE ELECTRONIC PAYMENTS IN THE CONTEXT OF COMBATING THE SPREAD OF COVID-19
Due to the ongoing COVID-19 pandemic, the Central Bank of West African States (BCEAO) has decided, in coordination with the community of electronic money issuers of the West African Economic and Monetary Union (Banks and Electronic Money Institutions), to extend the measures promoting electronic payments in the context of combating the spread of COVID-19.
Consequently, Notice No. 004-03-2020 dated April 1, 2020, regarding measures to promote electronic payments in the context of combating the spread of COVID-19, is extended effective May 3, 2020, for a period of thirty (30) days.
This Notice is notified to all banks as well as electronic money institutions of the Union and is published wherever necessary.
Issued in Dakar, on April 30, 2020
[Signature]
Tiémoko Meyliet KONE
Avenue Abdoulaye FADIGA BP 3108 – Dakar – Senegal Tel. (221) 33 839 05 00 / Fax. (221) 33 823 93 35 courrier.bceao@bceao.int - www.bceao.int