Regulatory Alerts2024-07-31
BCEAO Instruction No. 233/07/2024 Setting the Threshold for Cash or Bearer Instrument Debt Payments
The Central Bank of West African States (BCEAO) issued Instruction No. 233/07/2024 to establish a five million CFA franc threshold for cash and bearer instrument debt payments across UMOA member states. This mandate applies to single or linked transactions, excluding payments between natural persons acting outside their professional capacity. Non-compliance triggers sanctions under the existing UMOA uniform act on money laundering, terrorist financing, and weapons proliferation, while superseding all prior conflicting provisions effective from the signature date.
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