Regulatory Alerts2015-05-08
Instruction No. 005-05-2015 of May 8, 2015 Setting the Modalities for Transmitting Credit Information to Credit Information Bureaus
The Governor of the Central Bank of West African States (BCEAO) issued Instruction No. 005-05-2015 to define the transmission modalities for credit information to Credit Information Bureaus. The directive requires credit institutions, decentralized financial systems, and other data providers to submit complete and reliable client data electronically on a monthly basis by the 10th day of each following month. It establishes clear procedures for notifying and correcting data anomalies, enforcing technical compliance with service contracts, and applying supervisory sanctions to ensure regulatory adherence.
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