Instruction n°006-05-2018 du 16 mai 2018 fixant les modalités d'application des sanctions pécuniaires prononcées par la Commission Bancaire de l'UMOA (établissements de crédit) (Instruction on applying the pecuniary sanctions imposed by the UMOA Banking Commission to credit institutions)

BCEAO instruction signed in Dakar on 16 May 2018 and in force from 28 May 2018. It sorts breaches by credit institutions into three categories (administrative formalities; accounting, reporting and internal control; financial structure) with fine ranges and a cap of 300 million FCFA for banks and 90 million FCFA for financial establishments with banking status, and lets the BCEAO collect fines after a two-month appeal period.