Regulatory Alerts2025-05-30
BCEAO Advisory No. 006-05-2025 on the Transitional Compliance Period for Payment Services in the UMOA
The Banque Centrale des Etats de l'Afrique de l'Ouest (BCEAO) has extended the transitional compliance period for payment service providers under Instruction No. 001-01-2024 until August 31, 2025. This exceptional extension allows affected entities to finalize their regulatory approval procedures without interruption. Commencing September 1, 2025, only formally approved entities will be legally authorized to operate and provide payment services within the West African Monetary Union.
[IMAGE]
BCEAO CENTRAL BANK OF WEST AFRICAN STATES
Dakar, May 27, 2025
ADVISORY NO. 006-05-2025 ON THE TRANSITIONAL COMPLIANCE PERIOD FOR PAYMENT SERVICES IN THE UMOA
The Central Bank informs the public that the transitional compliance period for the provisions of Instruction No. 001-01-2024 dated January 23, 2024, regarding payment services in the West African Monetary Union (UMOA) is extended until August 31, 2025.
This exceptional measure aims to allow the concerned service providers to complete the required procedures for their approval.
Starting September 1, 2025, only approved entities will be authorized to provide payment services within the Union.
This Advisory is published wherever necessary.
Done at Dakar, May 27, 2025
Jean-Claude Kassi BROU
Avenue Abdoulaye FADIGA BP 3108 - Dakar - Senegal Tel. (221) 33 839 05 00 / Fax. (221) 33 823 93 35 courrier.bceao@bceao.int www.bceao.int