In conducting its documentary and on-the-spot controls, the WAMU Banking Commission ensures that regulated institutions comply with the regulatory provisions pertaining to depositor protection, in keeping with the provisions of the Annex to the Convention Governing the WAMU Banking Commission.

These controls cover, among other things, bank rates (overall effective rate, usury rate, services to be provided free of charge, etc.), customer data confidentiality, complaint handling and the right to an account.

With respect to complaints filed by customers of banking institutions, it should be noted that the Regulatory Authority has issued Circular No. 002-2020/CB/C dated September 18, 2020, on the handling of complaints from customers of banking institutions under its supervision.

The main provisions of this circular address the following :

• the definition of the term “complaint” ;
• the obligation for regulated institutions to put in place an internal system for handling customer complaints, including a procedure for managing and monitoring such complaints, which is approved by the governing body ;
• the obligation for regulated institutions to inform customers of the existence of an internal system for handling complaints, including by displaying such information on its premises, on its website and in contractual documents, whenever a financial product or service is provided ;
• the one-month deadline given to the regulated institution to respond to customer complaints ;
• the obligation for regulated institutions to submit a report to the Banking Commission, and ;
• the conditions to be met for a complaint to be receivable. In this respect, the request submitted by the client must not be reviewed by a judicial, extra-judicial or administrative body, and more specifically by the mediation mechanism set up in the framework of the Financial Services Quality Observatories (OQSF).