West African Monetary Agency (WAMA)
Agence Monétaire de l'Afrique de l'Ouest (AMAO)
1996-03-08 Freetown Sierra Leone
Established 8 Mar 1996, Freetown (Sierra Leone), as an autonomous specialized Agency of F-XD3462 - Economic Community of West African States (ECOWAS), following ECOWAS proposal, 1992, as a first step towards rationalization of regional monetary cooperation. Replaced H-XF4799 - West African Clearing House (WACH), which had been set up on 25 Jun 1975, Lagos (Nigeria), and commenced channelling transactions in Jul 1976. F-XF6262 - West African Monetary Zone (WAMZ) was confirmed on 20 Dec 2000, Bamako (Mali), following proposals of 10th Summit Meeting of ECOWAS, Jul 1987, Abuja, and of 13th Summit Meeting, May 1990, Banjul (Gambia).
Monitor, coordinate and implement the ECOWAS Monetary Cooperation Programme (EMCP), geared towards the creation of the ECOWAS single currency.
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