Decision No. 26 of July 2, 2015 Adopting the Uniform Law on Combating Money Laundering and Terrorist Financing in UMOA Member States

WEST AFRICAN MONETARY UNION DECISION NO. 26 of July 2, 2015/CM/UMOA ADOPTING THE UNIFORM LAW PROJECT ON COMBATING MONEY LAUNDERING AND TERRORIST FINANCING IN THE MEMBER STATES OF THE WEST AFRICAN MONETARY UNION (UMOA)

THE COUNCIL OF MINISTERS OF THE WEST AFRICAN MONETARY UNION, Having regard to the Treaty of the West African Monetary Union dated January 20, 2007, particularly Articles 10, 11, 14, 15, 17 and 34; Having regard to the Statutes of the Central Bank of West African States annexed to the Treaty of the West African Monetary Union dated January 20, 2007, particularly Articles 42, 43 and 60; Having regard to Regulation W14/2002/CM/UEMOA dated September 19, 2002 on the freezing of funds and other financial resources in the context of combating terrorist financing in the member states of the West African Economic and Monetary Union; Having regard to Directive No. 02/CM/UEMOA dated July 2, 2015 on combating money laundering and terrorist financing in the member states of the West African Economic and Monetary Union; Having regard to the Note from the BCEAO on the uniform law project on combating money laundering and terrorist financing in the member states of the West African Monetary Union presented to the Council of Ministers at its ordinary session held in Bissau on July 2, 2015; Having regard to the Deliberations of the Council of Ministers at its ordinary session held in Bissau on July 2, 2015,

DECIDES

Article 1 The uniform law project on combating money laundering and terrorist financing in the member states of the West African Monetary Union, annexed to this Decision and forming an integral part thereof, is hereby adopted.

Article 2 Within a period of six months from the date of signature of this Decision, the member states of the West African Monetary Union shall take the necessary measures to incorporate the uniform law referred to in Article 1 into their internal legal order.

Article 3 The Governor of the Central Bank of West African States is responsible for monitoring the implementation of this Decision.

Article 4 This Decision repeals and replaces all prior provisions dealing with the same subject matter. It shall enter into force as of the date of its signature and shall be published wherever necessary.

Done at Bissau, July 2, 2015 For the Council of Ministers of the West African Monetary Union, The President, Saidou SI DI BE Minister of Finance of the Republic of Niger