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CI · CIV · Middle East & Africa

6 regulators · 2 laws & regulations · 3 obligations · 1 enforcement action

Obligation	Timing	Regulator	Arises from	Source
Payments & Fintech
Major incident notification by payment institutions	Deadline Without delay; detailed report within 72 hours	BCEAO	—	official
Art. 84 requires major operational incidents to be notified without delay to the BCEAO and the Commission Bancaire, with a detailed incident report within 72 hours; Art. 3(26) defines a major incident (including interruptions over four hours or events affecting at least 25% of transactions or users). Art. 83 requires annual system and intrusion tests with reports within 30 days of testing.
Payment institution approval and safeguarding of customer funds	Approval before operating; daily reconciliation of customer funds	BCEAO	—	official
Art. 9 requires anyone providing the listed payment services to be approved and listed as a payment institution, with approval granted by the BCEAO (Art. 19). Art. 48 requires customer funds to be identifiable separately, never mixed with own funds, and placed in segregated accounts at banks or microfinance institutions if still held at the end of the next business day, with daily reconciliation.
Prior notice of outsourcing of critical functions	Deadline At least 30 days before outsourcing a critical function	BCEAO	—	official
Art. 36 requires a risk analysis before outsourcing, data availability at all times and secure deletion of data when the contract ends; outsourcing a critical operational function needs notice to the BCEAO and the Commission Bancaire at least 30 days in advance (Arts. 28(1) and 36). Art. 37 lists what the contract must contain. The text does not mention cloud services as such.
No obligations match these filters.