The UMOA Banking Commission has issued a reprimand against two banks based in Senegal and Burkina Faso.

In addition to the above disciplinary sanction, the credit institution received a financial penalty in the amount of one hundred and fifty-one million (151,000,000) FCFA, in respect of the above offenses falling under the third category, in accordance with the provisions of Instruction No. 006-05-2018 of 16 May 2018 setting out the modalities The application of the financial sanctions imposed by the UMOA Banking Commission against UMOA credit institutions

This disciplinary sanction is motivated by non-compliance with the terms of the injunction given by Decision of December 9, 2020 as well as deficiencies in management and breaches of the legal and regulatory texts applicable to credit institutions. In particular, weaknesses were identified in this bank's anti-money laundering and terrorist financing system