Regulatory Alerts2016-11-15
Added · Updated
Decision No. 357-11-2016 establishing the Revised Banking Chart of Accounts of the UMOA
The Governor of the Central Bank of West African States (BCEAO) has issued Decision No. 357-11-2016, establishing a Revised Banking Chart of Accounts (BCA) for the West African Monetary Union (UMOA). Effective from the 2018 financial year, all credit institutions within the UMOA must organize and maintain their accounting in accordance with this new BCA and its implementing instructions. Additionally, these institutions are now required to prepare semi-annual financial statements alongside their annual statements, and this Decision repeals the prior UMOA Banking Chart of Accounts from 1994.
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