BCEAO Instruction No 07 07 2025 RFE on Operating Conditions for Manual Exchange Dealers

The BCEAO issues Instruction No 07-07-2025 RFE to establish operating conditions for manual exchange dealers, mandating strict compliance with financial resource thresholds and control procedures. Natural persons holding existing licenses must convert to legal entities within one year of publication, while non-compliant legal entities are granted the same period to meet financial requirements and submit mandated documentation. The Instruction repeals all prior regulatory provisions on the subject, takes effect on August 1, 2025, and enforces sanctions for infractions under UEMOA external financial regulations.

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Manual exchange dealers are required to submit to these controls and provide all necessary information for their proper conduct.
Established infractions are sanctioned in accordance with the legislative or regulatory provisions in force in the member state of establishment, particularly those relating to disputes concerning infractions to the regulation of external financial relations among UEMOA member states.

TITLE VI - TRANSITIONAL AND FINAL PROVISIONS
Article 14: Transitional Provisions
Natural persons holding a valid manual exchange dealer license have a one-year period, from the publication of this Instruction, under penalty of withdrawal of their license, to apply for a new license in the form of a legal entity, by providing the documents specified in Article 2 of this Instruction to the BCEAO and the Structure responsible for External Finance. Legal entities benefiting from a valid manual exchange dealer license that do not meet the financial resource conditions set forth in Article 3 of this Instruction have a one-year period to comply, under penalty of license withdrawal. They are required to provide the BCEAO, within this one-year period, with the documents and papers specified in Article 2 of this Instruction.
Article 15: Final Provisions
This Instruction, including its Annexes which form an integral part thereof, repeals all prior provisions dealing with the same subject matter, notably Instruction No 06-07-2011/RFE of July 13, 2011 on the operating conditions for manual exchange dealers. It enters into force on August 1, 2025 and is published wherever necessary. Done in Dakar, on July 7, 2025

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Lineage: In force

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Source: Banque Centrale des Etats de l'Afrique de l'Ouest — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works