West African Monetary Union


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West African Monetary Union

An organization of several countries in West Africa whose members are politically separate but have free movement of goods and services and labor across borders and, most importantly, use a single currency: the West African CFA franc. Members include Benin, Burkina Faso, Cote d'Ivoire, Guinea Bissau, Mali, Niger and Togo. It was established in 1994.
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Moroy Soumahoro, secretary general of West African Monetary Union regulator Conseil Regional de l'Epargne Publique et des Marches Financiers, believes financial markets in the region can play a key role in driving the region's development.
A Memorandum of Understanding (M0U) is signed by the Central Bank of Liberia (CBL) with the West African Monetary Union for the sharing of supervisory information and enhancing cooperation between the two institutions in the area of banking supervision.
He also played the role of chairman of West African Monetary Union Board of Finance Ministers.
By offering securities services in Cote d Ivoire and across the West African Monetary Union (WAMU), Standard Chartered is enhancing the range of financial solutions and capabilities we provide to support the growth and expansion of new and existing clients.
It is the major bank in the Maghreb and the West African Monetary Union (UEMOA) and is a reference factor of the Economic and Monetary Community of Central Africa (CEMAC).

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