Regulatory Alerts2024-09-26
BCEAO Notice No. 003-09-2024 Extending the Transitional Compliance Period for Payment Services in UMOA
The Central Bank of West African States issued Notice No. 003-09-2024 to extend the six-month transitional compliance period for payment service providers under Instruction No. 001-01-2024 until January 31, 2025. This extension grants affected entities additional time to align their operations with the new regulatory framework's requirements without facing non-compliance penalties. The revised timeline applies from the original instruction's signature date, ensuring continuous regulatory coverage for all designated payment structures.
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