Directive No. 08-2002-CM-UEMOA on Measures to Promote Bankization and the Use of Written Payment Instruments

Recitals Having regard to the Treaty establishing the West African Economic and Monetary Union (UEMOA) dated January 10, 1994, notably its Articles 6, 7, 16, 21, 42, 43, 44, 45, 95, 96, 98, 112 and 113; Having regard to the Treaty of November 14, 1973 establishing the West African Monetary Union (UEMOA), notably Article 22; On the joint proposal of the UEMOA Commission and the BCEAO; Having regard to the opinion of the Statutory Committee of Experts dated September 13, 2002 (hereinafter the Directive);

Article 1 – Definition For the application of this Directive, "written instrument or procedure" means any paper-based or electronic instrument or procedure admitted by the Regulation adopting a legal framework for payment systems in the member states of the West African Economic and Monetary Union (UEMOA) as a valid payment method.

Article 2 – Purpose This Directive aims to promote bankization and the use of new payment instruments and procedures introduced by the reform in relations between States and Public Administrations with their civil servants and agents, as well as with their partners and taxpayers.

Article 3 – Financial Transactions All financial transactions involving sums of money equal to or greater than the reference amount set by BCEAO instruction, between private individuals, companies and other private entities on the one hand, and public and semi-public entities including the State, Administrations and companies on the other hand, shall be carried out by cheque or bank transfer to an account opened with postal financial services or a bank, unless another appropriate written payment method is used for amounts below the reference amount.

Article 4 – Salaries, Allowances and Other Monetary Benefits Salaries, allowances and other monetary benefits due by the State, Public Administrations, Companies or other public and semi-public entities to civil servants, agents, other active or retired personnel or their families, as well as to service providers, and involving sums of money equal to or greater than the reference amount set by BCEAO instruction, shall be paid by cheque or bank transfer to an account opened with postal financial services or a bank, unless another appropriate written payment method is used for amounts below the reference amount.

Article 5 – Taxes, Duties and Other Monetary Benefits Taxes, duties and other monetary benefits due to the State, Public Administrations, Companies or other public and semi-public entities and involving sums of money equal to or greater than the reference amount set by BCEAO instruction, shall be paid by cheque or bank transfer to an account opened with postal financial services, a bank, or the Public Treasury, unless another appropriate written payment method is used for amounts below the reference amount.

Article 6 – Invoices and Other Monetary Obligations The payment of water, electricity, and telephone bills, and the fulfillment of all monetary obligations, are exempt from stamp duties when carried out using a written payment instrument or procedure.

Article 7 – Information and Awareness Measures Member States and monetary authorities will take, in concert with banks and financial institutions, appropriate information and awareness measures necessary to popularize written payment methods. These information and awareness measures, initiated prior to the entry into force of the new legal framework, will be pursued periodically after said framework enters into force.

Article 8 – Transposition Obligation Member States must adopt, within six (6) months from the date of signature of this Directive, a uniform law on measures to promote bankization and the use of written payment instruments.

Article 9 – Monitoring of Implementation The BCEAO and the UEMOA Commission are responsible for monitoring the application of this Directive.

Article 10 – Amendment This Directive may be amended by the UEMOA Council of Ministers, upon the initiative of the BCEAO, on a joint proposal by the latter and the UEMOA Commission.

Article 11 – Supplementary Measures BCEAO instructions specify, as necessary, the implementation details of the provisions of this Directive.

Article 12 – Entry into Force This Directive enters into force from the date of its signature and shall be published in the Official Bulletin of the Union.

Done at Cotonou, on September 19, 2002. For the Council of Ministers, The President Kossi ASSIMADOU