{"id":7989,"date":"2024-06-27T19:39:28","date_gmt":"2024-06-27T17:39:28","guid":{"rendered":"https:\/\/cabex.insign-africa.com\/?post_type=tribune&p=7989"},"modified":"2024-10-01T18:25:56","modified_gmt":"2024-10-01T16:25:56","slug":"creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf","status":"publish","type":"tribune","link":"https:\/\/cabex.sn\/en\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/","title":{"rendered":"Changes to UEMOA banking regulations"},"content":{"rendered":"

Ten (10) major changes and innovations introduced by the new uniform law on banking regulations within the WAMU adopted by the WAEMU Council of Ministers held on 16 June 2023.<\/p>\n

 <\/p>\n

    \n
  1. Extension of the scope of application of the banking law (art.2)<\/b><\/li>\n<\/ol>\n

    The Banking Act which has hitherto applied to credit institutions (banks and bank-like financial institutions) shall now govern not only banks, financial credit institutions and payment institutions, but also electronic money institutions and bank holding companies, grouped under the name \u201cauthorized institutions\u201d, with the consequence that they will be subject to common rules such as prior authorization for some operations; the constitution of special reserves, in terms of governance; the obligation to inform supervisory authorities like the Banking Commission, and so on.<\/span><\/p>\n

     <\/p>\n

      \n
    1. Possibility for some public entities to engage in banking activities (art. 4)<\/b><\/li>\n<\/ol>\n

      Public entities with a special status such as the CDC (Caisse des d\u00e9p\u00f4ts et consignations), guarantee funds or any other public entity with a special status, may henceforth engage in a banking business by setting up a subsidiary with the status of authorized institution (bank, credit institution, payment institution and electronic money institution).<\/span><\/p>\n

       <\/p>\n

        \n
      1. Definition of the banking sector players and activities (art. 5)<\/b><\/li>\n<\/ol>\n

        The new law introduces a detailed definition of the players and activities in the banking sector, with distinction between the status and activities of banks, credit institutions, payment institutions, electronic money institutions and bank holding companies.<\/span><\/p>\n

        Credit institutions now include banks and credit institutions. Payment institutions are no longer included.<\/span><\/p>\n

        Banks are classified in various categories, depending mainly on their legal form, activities or area of intervention. The Central Bank shall define the categories and modalities of this classification.\u00a0<\/span><\/p>\n

         <\/p>\n

          \n
        1. Inclusion of receipt of funds from non-public offering into the banking monopoly (art. 18)<\/b><\/li>\n<\/ol>\n

          The receipt of funds mainly from the issuance of bonds others than those issued through a public offering, and more generally from any debt security that provides for the repayment of funds, regardless of the form and modalities, is regarded as receipt of funds from the public, which is a banking operation. This assimilation would integrate non-public offerings into the scope of application of the banking monopoly.<\/span><\/p>\n

          However, the provision of funds to companies by their directors or partners holding at least 10% of the capital remains excluded from the banking monopoly.<\/span><\/p>\n

           <\/p>\n

            \n
          1. Inclusion of sale with right of repurchase of movable and immovable property in the banking monopoly (art. 19)<\/b><\/li>\n<\/ol>\n

            Sale with right of repurchase of movable and immovable property (sale with repurchase clause) is now regarded as a credit transaction, subject to the regulatory and prudential restrictions to be defined by the Central Bank.<\/span><\/p>\n

            As a result, only banks and credit institutions may now carry out such operation.<\/span><\/p>\n

             <\/p>\n

              \n
            1. Recognition and supervision of FinTech (art. 32)<\/b><\/li>\n<\/ol>\n

              FinTech companies are recognized as players in the banking sector, but they are subject to certain restrictions as they cannot, without prior approval or authorization, engage in banking activities or claim to be FinTechs, nor create the appearance of such status, in particular by using the term FinTech in their corporate name, commercial name, advertising or, in any way whatsoever, in their activity.<\/span><\/p>\n

               <\/p>\n

                \n
              1. Prohibition\/limitation of concurrent positions and activities (art. 60)<\/b><\/li>\n<\/ol>\n

                The functions of Chairman of the Board of Directors (PCA) and Chief Executive Officer (CEO) must be exercised by two separate individuals. The PCA may not simultaneously hold similar positions with another licensed establishment.\u00a0<\/span><\/p>\n

                The permanent representative of a legal entity on a Board of Directors may neither chair the Board nor be appointed as officer.\u00a0<\/span><\/p>\n

                The number of mandates a director may exercise in their personal capacity or as representative of a legal entity director cannot exceed the limit set by the Banking Commission. This prohibition does not apply to the mandate exercised within a banking group. The Banking Commission may limit the number of mandates for directors of systematically important banks.<\/span><\/p>\n

                Members of the executive body and other staff members of a licensed establishment may not engage in any activity, whether remunerated or not, which competes with that of their institution.<\/span><\/p>\n

                 <\/p>\n

                  \n
                1. Introduction of insider trading (art. 69)<\/b><\/li>\n<\/ol>\n

                  It is forbidden for persons involved in the administration, management, management or control of licensed establishments and financial companies, or who are employed by them, or any person required, in any capacity whatsoever, to know or use information relating to these establishments, to disclose any confidential information of which they have knowledge in the course of their activity, in order to conduct directly or indirectly operations for their own account or to benefit others.<\/span><\/p>\n

                   <\/p>\n

                    \n
                  1. Modification of the conditions governing the use of authorized intermediaries (art. 92-101)<\/b><\/li>\n<\/ol>\n

                    Authorized institutions may use the services of one or more natural or legal persons other than an authorized institution, known as \u201cmandated intermediaries\u201d, to carry out activities for which they are authorized.<\/span><\/p>\n

                    Mandated intermediaries fall into two categories: banking agents and payment service agents.\u00a0<\/span><\/p>\n

                    Banking agents are intermediaries whose main activity is to give information, propose or assist in the conclusion of all or part of banking transactions, or to carry out all preparatory work and provide advice for their execution. Banking agents are authorized to carry out, as regular occupation, intermediation activities covering one or more banking transactions within the limits of their mandates, without acting as del credere.\u00a0<\/span><\/p>\n

                    Payment service agents are intermediaries whose main activity includes offering one or more payment services, promoting the services they provide and canvassing customers on their behalf within the limits of their mandates<\/span><\/p>\n

                    Mandated intermediaries may receive mandates from several authorized institutions.<\/span><\/p>\n

                    Intermediaries in banking operations (IOB) no longer exist. Those who exercised that function are therefore required to regularize their status within twelve months from the entry into force of this law. (art. 252).<\/span><\/p>\n

                     <\/p>\n

                      \n
                    1. Limitation of the mandates of statutory auditors (art. 127 and 254)<\/b><\/li>\n<\/ol>\n

                      Statutory auditors appointed by the Annual General Meeting are appointed for a mandate of four years renewable once.<\/span><\/p>\n

                      A statutory auditor who has already served two consecutive mandates may not be reappointed to the same licensed institution until the end of a period equivalent to the duration of his\/her previous mandate (up to a maximum of 8 years). This period runs from the end of the statutory auditor's second mandate.<\/span><\/p>\n

                      However, this limitation applies neither to expired mandates nor to mandates in force. It therefore applies to those conferred after the entry into force of this law.<\/span><\/p>","protected":false},"featured_media":8845,"template":"","class_list":["post-7989","tribune","type-tribune","status-publish","has-post-thumbnail","hentry","kng-has-post-thumbnail"],"yoast_head":"\nLes modifications de la r\u00e8glementation bancaire UEMOA - Cabex et Global Audit<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cabex.sn\/en\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Les modifications de la r\u00e8glementation bancaire UEMOA - Cabex et Global Audit\" \/>\n<meta property=\"og:description\" content=\"Dix (10) modifications et innovations majeures apport\u00e9es par la nouvelle loi uniforme portant r\u00e9glementation bancaire au sein de l\u2019UMOA adopt\u00e9e par le Conseil des Ministres de l\u2019UEMOA du 16\/06\/2023.   Extension du champ d\u2019application de la loi bancaire (art.2) La loi bancaire qui s\u2019applique jusqu\u2019ici aux \u00e9tablissements de cr\u00e9dit (banques et \u00e9tablissements financiers \u00e0 caract\u00e8re […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cabex.sn\/en\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/\" \/>\n<meta property=\"og:site_name\" content=\"Cabex et Global Audit\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/web.facebook.com\/profile.php?id=100063578712091\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-01T16:25:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cabex.sn\/wp-content\/uploads\/2024\/07\/UEMOA.png\" \/>\n\t<meta property=\"og:image:width\" content=\"225\" \/>\n\t<meta property=\"og:image:height\" content=\"210\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/\",\"url\":\"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/\",\"name\":\"Les modifications de la r\u00e8glementation bancaire UEMOA - Cabex et Global Audit\",\"isPartOf\":{\"@id\":\"https:\/\/cabex.sn\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cabex.sn\/wp-content\/uploads\/2024\/07\/UEMOA.png\",\"datePublished\":\"2024-06-27T17:39:28+00:00\",\"dateModified\":\"2024-10-01T16:25:56+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#primaryimage\",\"url\":\"https:\/\/cabex.sn\/wp-content\/uploads\/2024\/07\/UEMOA.png\",\"contentUrl\":\"https:\/\/cabex.sn\/wp-content\/uploads\/2024\/07\/UEMOA.png\",\"width\":225,\"height\":210},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cabex.sn\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Les modifications de la r\u00e8glementation bancaire UEMOA\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cabex.sn\/#website\",\"url\":\"https:\/\/cabex.sn\/\",\"name\":\"Cabex et Global Audit\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/cabex.sn\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cabex.sn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/cabex.sn\/#organization\",\"name\":\"Cabex et Global Audit\",\"url\":\"https:\/\/cabex.sn\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/cabex.sn\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cabex.sn\/wp-content\/uploads\/2021\/11\/logo-2.png\",\"contentUrl\":\"https:\/\/cabex.sn\/wp-content\/uploads\/2021\/11\/logo-2.png\",\"width\":210,\"height\":69,\"caption\":\"Cabex et Global Audit\"},\"image\":{\"@id\":\"https:\/\/cabex.sn\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/web.facebook.com\/profile.php?id=100063578712091\",\"https:\/\/www.linkedin.com\/company\/cabex-senegal\/\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Les modifications de la r\u00e8glementation bancaire UEMOA - Cabex et Global Audit","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cabex.sn\/en\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/","og_locale":"en_GB","og_type":"article","og_title":"Les modifications de la r\u00e8glementation bancaire UEMOA - Cabex et Global Audit","og_description":"Dix (10) modifications et innovations majeures apport\u00e9es par la nouvelle loi uniforme portant r\u00e9glementation bancaire au sein de l\u2019UMOA adopt\u00e9e par le Conseil des Ministres de l\u2019UEMOA du 16\/06\/2023.   Extension du champ d\u2019application de la loi bancaire (art.2) La loi bancaire qui s\u2019applique jusqu\u2019ici aux \u00e9tablissements de cr\u00e9dit (banques et \u00e9tablissements financiers \u00e0 caract\u00e8re […]","og_url":"https:\/\/cabex.sn\/en\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/","og_site_name":"Cabex et Global Audit","article_publisher":"https:\/\/web.facebook.com\/profile.php?id=100063578712091","article_modified_time":"2024-10-01T16:25:56+00:00","og_image":[{"width":225,"height":210,"url":"https:\/\/cabex.sn\/wp-content\/uploads\/2024\/07\/UEMOA.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Estimated reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/","url":"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/","name":"Les modifications de la r\u00e8glementation bancaire UEMOA - Cabex et Global Audit","isPartOf":{"@id":"https:\/\/cabex.sn\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#primaryimage"},"image":{"@id":"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#primaryimage"},"thumbnailUrl":"https:\/\/cabex.sn\/wp-content\/uploads\/2024\/07\/UEMOA.png","datePublished":"2024-06-27T17:39:28+00:00","dateModified":"2024-10-01T16:25:56+00:00","breadcrumb":{"@id":"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#primaryimage","url":"https:\/\/cabex.sn\/wp-content\/uploads\/2024\/07\/UEMOA.png","contentUrl":"https:\/\/cabex.sn\/wp-content\/uploads\/2024\/07\/UEMOA.png","width":225,"height":210},{"@type":"BreadcrumbList","@id":"https:\/\/cabex.sn\/tribune\/creation-de-la-zone-de-libre-echange-continentale-africaine-zlecaf\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cabex.sn\/"},{"@type":"ListItem","position":2,"name":"Les modifications de la r\u00e8glementation bancaire UEMOA"}]},{"@type":"WebSite","@id":"https:\/\/cabex.sn\/#website","url":"https:\/\/cabex.sn\/","name":"Cabex et Global Audit","description":"","publisher":{"@id":"https:\/\/cabex.sn\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cabex.sn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/cabex.sn\/#organization","name":"Cabex et Global Audit","url":"https:\/\/cabex.sn\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/cabex.sn\/#\/schema\/logo\/image\/","url":"https:\/\/cabex.sn\/wp-content\/uploads\/2021\/11\/logo-2.png","contentUrl":"https:\/\/cabex.sn\/wp-content\/uploads\/2021\/11\/logo-2.png","width":210,"height":69,"caption":"Cabex et Global Audit"},"image":{"@id":"https:\/\/cabex.sn\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/web.facebook.com\/profile.php?id=100063578712091","https:\/\/www.linkedin.com\/company\/cabex-senegal\/"]}]}},"_links":{"self":[{"href":"https:\/\/cabex.sn\/en\/wp-json\/wp\/v2\/tribune\/7989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cabex.sn\/en\/wp-json\/wp\/v2\/tribune"}],"about":[{"href":"https:\/\/cabex.sn\/en\/wp-json\/wp\/v2\/types\/tribune"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cabex.sn\/en\/wp-json\/wp\/v2\/media\/8845"}],"wp:attachment":[{"href":"https:\/\/cabex.sn\/en\/wp-json\/wp\/v2\/media?parent=7989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}