• Disciplinary and financial penalties imposed on a bank based in Senegal

At its meeting on 16 December 2024, the WAMU Banking Commission, after hearing the views of the directors concerned, issued a reprimand against a bank based in Senegal. This disciplinary sanction is motivated by failings and infringements of the legal and regulatory texts applicable to credit institutions. In particular, weaknesses were noted in the bank's governance, risk management and anti-money laundering and anti-terrorist financing measures.

In addition to the aforementioned disciplinary sanction, the bank received a financial penalty of three hundred million (300,000,000) FCFA, in respect of the aforementioned offences falling within the second and third categories, in accordance with the provisions of Instruction No 006-05-2018 of 16 May 2018 setting the terms and conditions for the application of financial penalties imposed by the WAMU Banking Commission on WAMU credit institutions.

This publication is issued for an indefinite period.

• Disciplinary and financial penalties imposed on a bank based in Togo

At its meeting held on 16 December 2024, the WAMU Banking Commission, after hearing the management concerned, issued a reprimand against a bank based in Togo. This disciplinary sanction is motivated by failings and infringements of the legal and regulatory texts applicable to credit institutions. In particular, weaknesses in the anti-money laundering and anti-terrorist financing measures were identified during an audit of the bank.

In addition to the aforementioned disciplinary sanction, the bank received a financial penalty of one hundred and fifty-one million (151,000,000) FCFA, in respect of the aforementioned third category offences, in accordance with the provisions of Instruction no. 006-05-2018 of 16 May 2018 setting the terms and conditions for the application of financial penalties imposed by the WAMU Banking Commission on WAMU credit institutions.

his publication is issued for an indefinite period.

• Disciplinary sanction against an electronic money institution established in Benin

At its meeting on 16 December 2024, the WAMU Banking Commission, after hearing the views of the managers concerned, issued a warning to an electronic money institution based in Benin. The disciplinary sanction was imposed because of shortcomings in the entity's management and breaches of the laws and regulations applicable to electronic money institutions. In particular, weaknesses were identified in prudential matters, governance, the issuance and distribution of electronic money, and the institution's anti-money laundering and anti-terrorist financing measures.

In addition to the aforementioned disciplinary sanction, the institution received a financial penalty in the amount of thirty-eight million (38,000,000) FCFA, in respect of the aforementioned infringements falling within the second and third categories, in accordance with the provisions of Instruction No 002-03-2019 of 25 March 2019 setting the terms and conditions for the application of financial penalties imposed by the WAMU Banking Commission on electronic money institutions in the WAMU.

This publication is issued for an indefinite period.