From THE WASHINGTON POST By David H. Webber, professor at the Boston University School of...
Agreement Establishing the Banking Commission of WAEMU
(enacted in 1990)
The Agreement Establishing the Banking Commission of WAEMU of 1990 (Convention Portant Création de la Commission Bancaire de l’Union Monétaire Ouest Africaine) explains the powers and responsibilities of the West African Economic and Monetary Union (WAEMU) Banking Commission, which include the following:
- the approval of banks and financial institutions;
- the supervision of banks and financial institutions;
- administrative measures;
- discipline; and
- the appointment of an administrator to manage the bank or financial institution.
DISCLAIMER: Due to the fact that an official English translation was unavailable for this law, information for this summary was created from review of secondary sources and unofficial translations and not from review of the actual legal text.