• Disciplinary and financial sanctions against a bank established in Senegal

During its session held on June 14, 2023, the WAMU Banking Commission, after hearing the leaders concerned, pronounced a reprimand against a bank established in Senegal. This disciplinary sanction is motivated by breaches and infringements of the legal and regulatory texts applicable to credit institutions, mainly those relating to credit risk, observed during the verification carried out with this bank. It is also motivated by the distribution of dividends adopted by the Ordinary General Assembly of the bank, in violation of the prescriptions 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 pecuniary sanction in the amount of three hundred million (300,000,000) FCFA, with regard to the aforementioned offenses falling under the second and third categories, in accordance with the provisions of the Instruction No. 006-05-2018 of May 16, 2018 setting the terms of application of the financial penalties imposed by the WAMU Banking Commission against WAMU credit institutions.

This publication is made for an indefinite period.

• Disciplinary and financial sanctions against a bank established in Mali

During its session held on June 14, 2023, the WAMU Banking Commission, after hearing the leaders concerned, pronounced a reprimand against a bank established in Mali. This disciplinary sanction is motivated by breaches and infringements of the legal and regulatory texts applicable to credit institutions, noted during the verification carried out with 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 pecuniary sanction in the amount of three hundred million (300,000,000) FCFA, with regard to the aforementioned offenses falling under the second and third categories, in accordance with the provisions of the Instruction No. 006-05-2018 of May 16, 2018 setting the terms of application of the financial penalties imposed by the WAMU Banking Commission against WAMU credit institutions.

This publication is made for an indefinite period.

• Disciplinary and financial sanctions against an electronic money institution established in Ivory Coast

  During its session held on June 14, 2023, the WAMU Banking Commission, after hearing the leaders concerned, pronounced a reprimand against an electronic money institution established in Ivory Coast. This disciplinary sanction is motivated by breaches and infringements 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 establishment was fined a pecuniary sanction 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 the terms of application of the financial penalties imposed by the Banking Commission against WAMU electronic money institutions.

  This publication is made for an indefinite period.

  • Disciplinary sanction against a decentralized financial system established in Burkina Faso

    During its session held on June 14, 2023, the WAMU Banking Commission, after hearing the leaders concerned, announced the withdrawal of the authorization of a decentralized financial system (SFD) installed in Burkina. This disciplinary sanction is motivated by breaches and infringements of the legal and regulatory texts applicable to SFDs, noted during the verification carried out with this institution. In particular, the quasi-cessation of the activities of the institution was noted, in particular the cessation of credit distribution for more than three (3) years and its inability to honor members' withdrawal requests, the malfunctioning of governance bodies, a widespread violation of prudential regulations and a lack of viable prospects for the recovery of the institution.

    This publication is made for an indefinite period.