During its session held on March 15, 2022, the Banking Commission, after having heard the managers concerned, gave a reprimand to a financial institution of a banking nature established in Burkina. This disciplinary sanction is motivated in particular by the non-compliance with the rules relating to governance, credit, liquidity and operational risk management, accounting and prudential standards as well as the exercise of activities not covered by the category to which this taxable person belongs.

The aforementioned penalty is accompanied by a pecuniary penalty.

In addition, a warning was pronounced against the Chairman of the Board of Directors of the institution, with regard to the shortcomings in the management and the infringements of the legal and regulatory texts applicable to credit institutions.

In addition, a reprimand was given to the Managing Director of the institution, with regard to the failures in the management and the infringements of the legal and regulatory texts applicable to credit institutions.