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), Having regard to the Treaty of the West African Monetary Union (WAMU) dated January 20, 2007, particularly Article 34; Having regard to the Statutes of the Central Bank of West African States (BCEAO), annexed to the WAMU Treaty dated January 20, 2007, particularly Articles 30 and 59; Having regard to Decision No. CM/UMOA/006/06/2013 dated June 28, 2013 adopting guidelines on the promotion of Credit Information Bureaus in WAMU member states, particularly Article 4; Having regard to the Uniform Law regulating Credit Information Bureaus in WAMU member states, particularly Articles 24, 25, 26, 28, 29, 30, 41, 42, 43, 44, 53, 54, 57, 63 and 76; Having regard to the Banking Regulation Law, particularly Article 53; Having regard to the Law regulating decentralized financial systems, particularly Articles 56 to 58,

DECIDES

Article 1: Object This instruction aims to specify the modalities for transmitting credit information to Credit Information Bureaus.

Article 2: Data Transmission Modes Credit institutions and decentralized financial systems transmit data on their clients to the BCEAO. This information is collected by Credit Information Bureaus from the BCEAO. 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. 005-05-2015 SETTING THE MODALITIES FOR TRANSMITTING CREDIT INFORMATION TO CREDIT INFORMATION BUREAUS

2 Data providers other than credit institutions and decentralized financial systems transmit data on their clients directly to Credit Information Bureaus. The transmission of information is carried out on electronic media.

Article 3: Data Quality and Transmission Deadlines Data providers take all necessary measures to ensure the quality of transmitted information, particularly its completeness and reliability. They transmit their clients' data in accordance with the provisions of Article 2 above, on a monthly basis and no later than the 10th day of the following month.

Article 4: Correction of Anomalies Where applicable, anomalies identified in the information communicated by data providers are notified to them by the Credit Information Bureau: – through the BCEAO, for credit institutions and decentralized financial systems; – directly, for data providers other than credit institutions and decentralized financial systems. Data providers correct the reported anomalies within the timeframes set by the Credit Information Bureau and return the corrected and/or completed information, following the transmission modes indicated in Article 2 above.

Article 5: Compliance with Format, Protocol and Technical Specifications Data providers take all necessary measures to comply with the format, protocol and technical specifications for data transmission defined in the service agreement signed with Credit Information Bureaus.

Article 6: Supervision and Sanctions Breaches related to the obligations for collecting, processing and disseminating credit information are sanctioned by supervisory authorities under the conditions set out in the specific applicable legislative and regulatory texts, without prejudice to criminal penalties.

Article 7: Entry into Force This instruction enters into force on the date of its signature. It shall be published wherever necessary. Done in Dakar, on May 8, 2015 Tiémoko Meyliet KONE