Instruction No. 002-01-2015 on Procedures for Obtaining Client Consent by Data Providers to Credit Information Bureaus within the UMOA Credit Information Sharing System

The Governor of the Central Bank of West African States, Having regard to the Treaty of the West African Monetary Union (UMOA) dated 20 January 2007, particularly Article 34; Having regard to the Statutes of the Central Bank of West African States (BCEAO), annexed to the Treaty of the West African Monetary Union dated 20 January 2007, particularly Articles 30 and 59; Having regard to the Uniform Act regulating Credit Information Bureaus in the Member States of the West African Monetary Union (UMOA), particularly in its Articles 1, 41, 42, 43, 44, 45, 46, 53, 54, 57 and 76, DECIDES

Article 1: Subject Matter This Instruction specifies the procedures for obtaining client consent by data providers to Credit Information Bureaus (CIBs), within the framework of the credit information sharing system in the Member States of UMOA.

Article 2: Procedures and Means of Collecting Consent Data providers must obtain the prior consent of their client, whether natural or legal person, before transmitting data concerning them to a Credit Information Bureau (CIB). To this end, they must provide the information prescribed by Article 44 of the Act regulating Credit Information Bureaus. The consent is attached to the client's account opening file. A copy of the consent is attached to the client's credit file. The consent given by a client to a data provider is valid only for credit operations conducted with said provider.

Avenue Abdoulaye Fadiga P.O. Box 3108 – Dakar – Senegal Tel. (221) 33 839 05 00 / Fax. (221) 33 823 93 35 www.bceao.int

INSTRUCTION NO. 002-01-2015 ON PROCEDURES FOR OBTAINING CLIENT CONSENT BY DATA PROVIDERS TO CREDIT INFORMATION BUREAUS (CIBs) WITHIN THE CREDIT INFORMATION SHARING SYSTEM IN THE MEMBER STATES OF UMOA

2 Consent may only be obtained through the form attached as an annex to this Instruction regarding loan applications at the counters of regulated institutions. For online loan applications, client consent may be obtained via electronic platforms guaranteeing: • the identification of the institution issuing the consent form; • the confidentiality of its content; • the non-repudiation of the consent form by its author; • the integrity of its content; • the authentication of the client; • the availability of archiving for the consent form.

Article 3: Retention Period of Consent The client's consent must be retained in the client's account opening file and in each credit file obtained by the latter throughout the duration of the business relationship between him and the data provider.

Article 4: Entry into Force This Instruction enters into force on 13 January 2015. It shall be published where necessary.

Done at Dakar, on 13 January 2015 The Governor Tiémoko Meyliet KONE

3 Institution [Name of the legal person], Date: __ /__ / __ Registered office: [Address of the registered office]: City: Country: Account number: Represented by [Name and forenames of the signatory of this form]: In their capacity as: [Title/Position] □ Accepts that credit information, historical and current, concerning [Name of the legal person], including approved and outstanding balances, credit limits, payment suspensions, and the balance of arrears with [Name of the Institution], are transmitted to [Names and addresses of the CIB or CIBs]. [Art 41 points 2, 3 and 4, Art 44, points 1 and 2] 1 □ Accepts that the aforementioned information is communicated by [Names of the CIB or CIBs] to institutions having access to its (their) database(s), including those located on the territory of another Member State of UMOA. [Art 42 point 1, Art 44, point 4] □ Understands that this information can in no case relate to the deposits of [Name of the legal person] [Art 53, paragraph 3] □ Understands that [Names of the CIB or CIBs] will disseminate only information whose age does not exceed five (5) years. [Art 41, point 3] □ Understands that [Names of the CIB or CIBs] will retain this information for a period of five (5) additional years after the termination of the business relationship with [Name of the Institution]. [Art 41, point 4] □ Understands that [Name of the legal person] has the right to access data concerning it in the database(s) of [Names of the CIB or CIBs] to verify its credit history, to dispute and have corrected or removed erroneous information in the said database(s) or in a credit report. [Art 44, point 7] □ Understands that [Name of the legal person] has the right to receive all information retained by [Names of the CIB or CIBs] on its credit history, in the form of a credit report free of charge once (1) per year and in case of dispute related to an error in the data, attributable to [Name of the Institution] or to [Names of the CIB or CIBs]. [Art 44, point 8]. Signature [with mandatory mention "read and approved"] 1 References of the Uniform Act regulating CIBs.

STANDARD FORM FOR OBTAINING CONSENT WITHIN THE FRAMEWORK OF THE CREDIT INFORMATION SHARING SYSTEM IN UMOA [NATURAL PERSON]

4 STANDARD FORM FOR OBTAINING CONSENT WITHIN THE FRAMEWORK OF THE CREDIT INFORMATION SHARING SYSTEM IN UMOA [LEGAL PERSON]

Institution [Name of the legal person], Date: __ /__ / __ Registered office: [Address of the registered office]: City: Country: Account number: Represented by [Name and forenames of the signatory of this form]: In their capacity as: [Title/Position] □ Accepts that credit information, historical and current, concerning [Name of the legal person], including approved and outstanding balances, credit limits, payment suspensions, and the balance of arrears with [Name of the Institution], are transmitted to [Names and addresses of the CIB or CIBs]. [Art 41 points 2, 3 and 4, Art 44, points 1 and 2] 1 □ Accepts that the aforementioned information is communicated by [Names of the CIB or CIBs] to institutions having access to its (their) database(s), including those located on the territory of another Member State of UMOA. [Art 42 point 1, Art 44, point 4] □ Understands that this information can in no case relate to the deposits of [Name of the legal person] [Art 53, paragraph 3] □ Understands that [Names of the CIB or CIBs] will disseminate only information whose age does not exceed five (5) years. [Art 41, point 3] □ Understands that [Names of the CIB or CIBs] will retain this information for a period of five (5) additional years after the termination of the business relationship with [Name of the Institution]. [Art 41, point 4] □ Understands that [Name of the legal person] has the right to access data concerning it in the database(s) of [Names of the CIB or CIBs] to verify its credit history, to dispute and have corrected or removed erroneous information in the said database(s) or in a credit report. [Art 44, point 7] □ Understands that [Name of the legal person] has the right to receive all information retained by [Names of the CIB or CIBs] on its credit history, in the form of a credit report free of charge once (1) per year and in case of dispute related to an error in the data, attributable to [Name of the Institution] or to [Names of the CIB or CIBs]. [Art 44, point 8]. Signature [with mandatory mention "read and approved"] 1 References of the Uniform Act regulating CIBs.