During its session held on July 18, 2023, the WAMU Banking Commission, after hearing the managers concerned, issued a reprimand against a bank established in Benin. This disciplinary sanction is motivated by breaches and violations of the legal and regulatory texts applicable to credit institutions, in particular by weaknesses in the system for combating money laundering and the financing of terrorism, noted during the verification carried out at this bank as well as the non-compliance with the terms of an injunction from the Community Supervisory Authority.

In addition to the aforementioned disciplinary sanction, the bank was fined a financial penalty in the amount of three hundred million (300,000,000) FCFA, with regard to the above-mentioned offenses falling into the second and third categories, in accordance with the provisions of Instruction no. 006-05-2018 of May 16, 2018 setting out the terms of application of the financial sanctions pronounced by the WAMU Banking Commission to against the credit institutions of the WAMU.

This publication is made for an indefinite period.

During its session held on July 18, 2023, the WAEMU Banking Commission, after hearing the managers concerned, issued a reprimand against a bank established in Mali. This disciplinary sanction is motivated by shortcomings in management as well as breaches of the legal and regulatory texts applicable to credit institutions, in particular by weaknesses in the system for combating money laundering and the financing of terrorism, noted during the verification carried out at this bank. It is also motivated by the distribution of dividends, decided by the Ordinary General Meeting of the bank, in violation of the requirements of paragraphs 95 and 96 of the Prudential Framework applicable to credit institutions and financial companies of the WAMU.

In addition to the aforementioned disciplinary sanction, the bank was fined a financial penalty in the amount of three hundred million (300,000,000) FCFA, with regard to the above-mentioned offenses falling into the second and third categories, in accordance with the provisions of Instruction no. 006-05-2018 of May 16, 2018 setting out the terms of application of the financial sanctions pronounced by the WAMU Banking Commission to against credit institutions of the WAMU.

This publication is made for an indefinite period.

During its session held on July 18, 2023, the WAMU Banking Commission, after hearing the leaders concerned, pronounced a censure against a decentralized financial system installed in Burkina Faso. This disciplinary sanction is motivated by inadequacies in management as well as breaches and violations of legal and regulatory texts governing decentralized financial systems, in particular by weaknesses in the system for combating money laundering and the financing of terrorism, noted during the verification carried out at this institution.

This publication is made for an indefinite period.

During its session held on June 14, 2023, the WAMU Banking Commission, after hearing the managers concerned, issued a reprimand against a bank established in Senegal. This disciplinary sanction is motivated by breaches and violations of the legal and regulatory texts applicable to credit institutions, mainly those relating to credit risk, noted during the verification carried out at this bank. It is also motivated by the distribution of dividends adopted by the Ordinary General Meeting of the bank, in violation of the requirements of paragraphs 95 and 96 of the Prudential Framework applicable to credit institutions and financial companies of the WAMU.

In addition to the aforementioned disciplinary sanction, the bank was fined three hundred million (300,000,000) FCFA, in respect of the aforementioned offenses falling under the second and third categories, in accordance with the provisions of Instruction No. 006-05-2018 of May 16, 2018 establishing the terms of application of financial sanctions imposed by the WAMU Banking Commission against WAMU credit institutions.

This publication is made for an indefinite period.

During its session held on June 14, 2023, the WAMU Banking Commission, after hearing the leaders concerned, issued a reprimand against a bank established in Mali. This disciplinary sanction is motivated by breaches and violations of the legal and regulatory texts applicable to credit institutions, noted during the verification carried out at this bank as well as the non-compliance with the terms of an injunction from the Community Supervisory Authority.

In addition to the aforementioned disciplinary sanction, the bank was fined a financial penalty in the amount of three hundred million (300,000,000) FCFA, with regard to the above-mentioned offenses falling into the second and third categories, in accordance with the provisions of Instruction no. 006-05-2018 of May 16, 2018 setting out the terms of application of the financial sanctions pronounced by the WAMU Banking Commission to against the credit institutions of the WAMU.

This publication is made for an indefinite period.

During its session held on June 14, 2023, the WAMU Banking Commission, after hearing the leaders concerned, issued a reprimand to against an electronic money institution located in Ivory Coast. This disciplinary sanction is motivated by breaches and violations of the legal and regulatory texts applicable to electronic money institutions, noted during the verification carried out at this institution.

In addition to the aforementioned disciplinary sanction, the institution was fined a financial penalty in the amount of seventy-five million (75,000,000) FCFA, with regard to the above-mentioned offenses falling under the third category, in accordance with the provisions of Instruction no. 002-03-2019 of March 25, 2019 setting out the terms of application of the financial sanctions pronounced by the Banking Commission to against electronic money institutions in the WAMU.

This publication is made for an indefinite period.

During its session held on June 14, 2023, the WAMU Banking Commission, after hearing the leaders concerned, pronounced the withdrawal of the approval of a decentralized financial system (DFS) installed in Burkina. This disciplinary sanction is motivated by breaches and violations of the legal and regulatory texts applicable to DFS, noted during the verification carried out at this institution. In particular, it was noted the quasi-cessation of the institution's activities, in particular the cessation of credit distribution for more than three (3) years and its inability to honor members' withdrawal requests, the dysfunction of governance bodies, a generalized violation of prudential regulations as well as an absence of viable prospects for the recovery of the institution.

This publication is made for an indefinite period.

During its session held on March 13, 2023, the WAMU Banking Commission, after hearing the managers concerned, issued a reprimand against a bank established in Senegal. This disciplinary sanction is motivated by breaches and violations of the system for combating money laundering and the financing of terrorism as well as other regulatory texts applicable to credit institutions, noted during the verification carried out at this bank.

In addition to the aforementioned disciplinary sanction, the bank was fined three hundred million (300,000,000) FCFA, with regard to the aforementioned offenses falling under the third category, in accordance with the provisions of Instruction No. 006-05-2018 of May 16, 2018 establishing the terms of application of financial sanctions imposed by the WAMU Banking Commission against WAMU credit institutions.

This publication is made for an indefinite period.

During its session held on March 13, 2023, the WAMU Banking Commission, after hearing the managers concerned, issued a reprimand against a bank established in Ivory Coast. This disciplinary sanction is motivated by the modification of the structure of its shareholders which led to the crossing downwards of the minority threshold blocking, without having obtained prior authorization from the Monetary and Control Authorities as well as by the complete failure to comply with the terms of an injunction of the Banking Commission.

In addition to the aforementioned disciplinary sanction, the bank was fined one hundred and fifty million (150,000,000) FCFA, with regard to the aforementioned offenses, which fall under the second category, in accordance with the provisions of Instruction No. 006-05-2018 of May 16, 2018 setting out the terms of application of the financial sanctions pronounced by the WAMU Banking Commission to against WAMU credit institutions.

This publication is made for an indefinite period.

During its session held on December 13, 2022, the WAMU Banking Commission, after hearing the leaders concerned, issued a reprimand against a bank established in Niger. This disciplinary sanction is motivated by breaches and violations of the system for combating money laundering and the financing of terrorism and other legislative texts applicable to credit institutions, noted during the verification carried out at this bank.

In addition to the aforementioned disciplinary sanction, the bank was fined three hundred (300) million FCFA, with regard to the aforementioned offenses falling under the third category, in accordance with the provisions of Instruction No. 006-05-2018 of May 16, 2018 setting out the terms of application of the financial sanctions pronounced by the WAMU Banking Commission to against WAMU credit institutions.

This publication is made for an indefinite period.