2017-09-25

BCEAO Instruction No. 009-09-2017 Setting the Threshold for Cash or Bearer Instrument Payments

The Governor of the Central Bank of West African States (BCEAO) issued Instruction No. 009-09-2017 to establish a five-million CFA franc threshold for cash and bearer instrument payments across UMOA member states. The regulation mandates that debts exceeding this amount must be settled via non-cash methods, while explicitly exempting individuals without deposit accounts and transactions between natural persons acting outside their professional capacity. Non-compliance with these payment requirements triggers sanctions under the existing UMOA money laundering and terrorist financing Uniform Act, which takes effect immediately upon signature.

Senegal

Banque Centrale des Etats de l'Afrique de l'Ouest

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