Regulatory Alerts2010-07-26
Instruction No. 009-07-RSP-2010 of July 26, 2010 on the UEMOA Payment Incident Centralization and Dissemination System
The Governor of the Central Bank of West African States (BCEAO) issued Instruction No. 009-07-RSP-2010 to establish and regulate the UEMOA Payment Incident Centralization (CIP-UEMOA) system for tracking and disseminating payment instrument defaults. The directive mandates that account-holding institutions, public treasuries, and judicial authorities declare specific payment incidents—such as bounced checks, card misuse, and banking or judicial prohibitions—within strict deadlines, with all declared data retained for fifteen years. It further standardizes reporting formats, defines tiered access protocols for financial entities and the public, and outlines mandatory notification procedures and penalty enforcement mechanisms for non-compliance.