Regulatory Alerts2006-07-31
Compilation of Legislative and Regulatory Texts Applicable to Decentralized Financial Systems in the West African Monetary Union (UMOA)
The UMOA Banking Commission and Union Council of Ministers issued this compilation to consolidate the legislative and regulatory framework governing decentralized financial systems (DFS) across eight West African member states. It establishes comprehensive definitions, operational scopes, approval procedures, and prudential rules for DFS, including mutualist savings and credit institutions. The document further integrates anti-money laundering, counter-terrorism financing, currency management, and payment system regulations to ensure standardized oversight and financial stability within the Union.
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