Union monétaire Ouest africaine (UMOA)

West African Monetary Union (WAMU)

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History

12 May 1962, on signature of a Treaty by the Governments of Côte d'Ivoire, Dahomey (currently Benin), Mali, Mauritania, Niger, Senegal, Upper Volta (currently Burkina Faso). Subsequently ratified by all except Mali. The Government of Togo adhered 27 Nov 1963. A new Agreement, replacing the earlier Treaty, signed by Governments of Benin, Burkina Faso, Côte d'Ivoire, Niger, Senegal and Togo on 14 Nov 1973. Cooperation Agreement with French Government signed 4 Dec 1973, Dakar (Senegal). Mali readmitted as member, 31 Oct 1983, Niamey (Niger). Activities first complemented by and subsequently replaced by West Africa Economic and Monetary Union (UEMOA), set up 1 Aug 1994.

Aims

Enforce rules governing the issue of a common currency entrusted to Central Bank of West African States; assist in the effective use of monetary resources of member countries.

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Activities

Adopts standard regulations concerning: financial relations with countries not members of UMOA; organization and supervision of distribution of credit; general rules on banking and ancillary activity; negotiable instruments; suppression of counterfeit and forgery.

Structure

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Languages

French.

Financing

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Relations with Inter-Governmental Organizations

Relations with 2 inter-governmental organizations.
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Relations with Non-Governmental Organizations

Relations with 2 non-governmental organizations.
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Members

Members in 8 countries
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Type I Classification

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Type II Classification

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Subjects *

  • Commerce
    • Currency
    • Money
  • Government
    • Intergovernmental Communities

UN Sustainable Development Goals **

UIA Org ID

D3426

Last News Received

2002
* Subject classification is derived from the organization names and aims.
** UN SDGs are linked to the subject classification.

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