Decision No. 357-11-2016 Instituting the Revised UMOA Banking Accounting Plan

CENTRAL BANK OF WEST AFRICAN STATES
LeGouverneur
DECISION No. 357-11-2016 INSTITUTING THE REVISED UMOA BANKING ACCOUNTING PLAN

The Governor of the Central Bank of West African States (BCEAO), Having regard to the Treaty of the West African Monetary Union (UMOA) of 20 January 2007, particularly Article 34; Having regard to the Statutes of the Central Bank of West African States (BCEAO), annexed to the UMOA Treaty of 20 January 2007, particularly Articles 30, 31, 32, 33 and 34; Having regard to the Uniform Act on banking regulation, particularly Articles 50, 51, 52, 53 and 54,

HEREBY DECIDES

Article 1
A Revised UMOA Banking Accounting Plan, abbreviated PCB, is hereby established and annexed to this Decision, forming an integral part thereof.

Article 2
The provisions of the PCB are specified and supplemented by BCEAO directives.

Article 3
Starting with the 2018 financial year, the accounting of banks and financial institutions with a banking character, hereinafter referred to as credit institutions, shall be organized and maintained in accordance with the provisions of the PCB and its implementing directives. From 2018 onwards, credit institutions must also prepare semi-annual financial statements in addition to annual financial statements.

Avenue Allassane FADIGA
BP 3108 - Dakar, Senegal
Tel: (221) 33 839 05 00 | Fax: (221) 33 823 93 35 www.bceao.int

Article 4
General accounting provisions apply to credit institutions when they do not conflict with those of the PCB and its implementing directives.

Article 5
This Decision repeals and replaces all prior contrary provisions, notably the UMOA Banking Accounting Plan of 16 August 1994 which took effect on 1 January 1996. It enters into force on 1 January 2018 and shall be published wherever necessary.

Done at Dakar, on 15 NOV. 2016
Tiémoko Meyliet KONE