Regulatory Alerts2015-07-02
Decision No. 26 of July 2, 2015 Adopting the Uniform Law on Combating Money Laundering and Terrorist Financing in UMOA Member States
The Council of Ministers of the West African Monetary Union (UMOA) issued Decision No. 26 on July 2, 2015, to formally adopt the Uniform Law on Combating Money Laundering and Terrorist Financing across UMOA member states. The Decision mandates that all member states incorporate this Uniform Law into their domestic legal frameworks within six months of signature. It further designates the Governor of the Central Bank of West African States to oversee implementation while simultaneously repealing all prior provisions on the subject, with full effect beginning upon signature.
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