Regulatory Alerts2016-06-04
BCEAO Instruction No. 004-06-2016 on Provisional Administration of Credit Information Bureaus
The Governor of the Central Bank of West African States (BCEAO) issued this instruction to establish detailed procedures for placing Credit Information Bureaus under provisional administration. It mandates the Finance Minister to appoint a qualified provisional administrator within seven days, defines their powers, remuneration, and reporting obligations, and establishes a Monitoring Committee to oversee recovery efforts. The framework ensures transparent oversight, clear liability for administrative faults, and timely publication of decisions to safeguard financial stability.
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