Regulatory Alerts2024-02-22
BCEAO Guidelines on Declaration Procedures for New Mandates by Banking Operations Intermediaries
BCEAO, through its Governor, issues Opinion No. 003-12-2023 requiring banking operations intermediaries to declare new mandates with credit institutions to the Minister of Finance, copying the BCEAO, at least thirty business days before execution. The declaration must be filed with the Main Agency in the intermediary’s state of establishment, satisfying Article 4 of Instruction No. 015-12/2010/RB without triggering a new authorization requirement. This binding notice applies to all credit institutions and intermediaries, standardizing the regulatory reporting process for newly concluded mandates.
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