[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108721-en":3,"doc-seo-108721-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},108721,1374391975076,"Riley","https://ap-avatar.wpscdn.com/avatar/14000253ca4ec9f6853?x-image-process=image/resize,m_fixed,w_180,h_180&k=1783305029341752051",8,"Research & Report","West African Economic and Monetary Union (WAEMU) Financial Sector Assessment (FSA) - Executive Summary","A World Bank and IMF team conducted a Financial Sector Assessment Program evaluation for the West African Economic and Monetary Union (WAEMU) from January 18 to February 2, 2022. The report presents the FSAP team’s core findings and policy recommendations, without necessarily representing the official views of the IMF or the World Bank. It covers the macroeconomic context, financial sector structure, vulnerabilities and risks, oversight and supervision, crisis preparedness and safety nets, sector development, and green finance priorities.","June 2022  \nPublic Disclosure Authorized  \nPublic  \nPub lic Disc losure Authorized  \nFor official use only  \nWEST AFRICAN ECONOMIC AND MONETARY UNION (WAEMU)  \nFINANCIAL SECTOR ASSESSMENT (FSA)  \nPrepared By Finance, Competitiveness and Innovation Global Practice, World Bank and Monetary and Capital Markets Department, IMF.  \nThe FSA contains the FSAP team’s main findingsand policy recommendations. It does not necessarily reflect the views of the International Monetary Fund or the World Bank and is subject to further review. Further information on the FSAP program can be found at [http://www.imf.org/external/np/fsap/fssa.aspx](http://www.imf.org/external/np/fsap/fssa.aspx) and [www.worldbank.org/fsap](www.worldbank.org/fsap).  \nCONTENTS  \nGLOSSARY__________________________________________________________________________________________ 2  \nPREFACE ___________________________________________________________________________________________iv  \nEXECUTIVE SUMMARY __________________________________________________________________________ 5  \nMACROFINANCIAL SETTING __________________________________________________________________ 13  \nA. Macroeconomic Developments_______________________________________________________________ 13  \nB. Financial Sector Structure _____________________________________________________________________ 13  \nC. Vulnerabilities and Risks ______________________________________________________________________ 15  \nD. Stress Testing and Interconnectedness _______________________________________________________ 17  \nFINANCIAL SECTOR OVERSIGHT ______________________________________________________________ 18  \nA. System-level oversight________________________________________________________________________ 18  \nB. Bank supervision and regulation ______________________________________________________________ 19  \nC. Supervision of AML/CFT ______________________________________________________________________ 20  \nCRISIS PREPAREDNESS AND FINANCIAL SAFETY NETS 21  \n_____________________________________  \nFINANCIAL SECTOR DEVELOPMENT __________________________________________________________23  \nA. Access to Finance for SMEs ___________________________________________________________________ 23  \nB. Payment Systems: Digital Financial Services___________________________________________________ 28  \nC. Long term finance: Capital Markets Development and the Role of Social Security Institutions 31  \nD. State-Owned Banks: Role and Governance ___________________________________________________ 35  \nGREEN FINANCE________________________________________________________________________________37  \nA. Climate risks __________________________________________________________________________________ 37  \nB. Industry and Supervisory Practices____________________________________________________________ 38  \nTHE PERSPECTIVES OF THE AUTHORITIES ___________________________________________________39  \nFIGURES & TABLES_____________________________________________________________________________40  \nGLOSSARY  \nAML/CFT ATM  \nBCEAO  \nBCSF-UEMOA  \nBIC  \nBOAD  \nBVRM  \nCBU  \nCIPRES  \nCM  \nCREPMF  \nCSF-UMOA  \nDSP  \nECOWAS  \nELA  \nFGDR-UMOA  \nFSAP  \nGIM-UMOA  \nHQLA IMF  \nIPO  \nJ-CAP  \nLCR  \nML/TFNPL  \nOHADA  \nOSD  \nPEP  \nPGSIC  \nAnti-Money Laundering/Combatting the Financing of Terrorism Automatic Teller Machine  \nCentral Bank of West African States (Banque Centrale des États del’Afrique de l’Ouest)  \nBureau de Connaissance et de Suivie des Fintechs  \nCredit Reporting Bureau (Bureaux d'information sur le crédit) West African Development Bank (Banque Ouest-Africaine de Développement)  \nRegional Stock Exchange (Bourse Régionale des Valeurs Mobilières) Banking Commission of the West Africa Monetary Union (Commission Bancaire de l’UMOA)  \nRegional Pension Schemes Body (Conférence Interafricaine de Prévoyance Sociale)  \nCouncil of Ministers of the WAEMU  \nRegional Public Investment and Financial Markets Board (Conseil Régional de l’épargne publique","cbCaijAAyBNKmm66","https://ap.wps.com/l/cbCaijAAyBNKmm66","pdf",2414705,3,1,55,"English","en",105,"# Contents\n## Glossary\n## Preface\n## Executive Summary\n## Macroeconomic Setting\n## Financial Sector Oversight\n## Crisis Preparedness and Financial Safety Nets\n## Financial Sector Development\n## Green Finance\n## The Perspectives of the Authorities\n## Figures & Tables","[{\"question\":\"What evaluation period and program were used for the WAEMU financial sector assessment?\",\"answer\":\"The assessment was carried out under the Financial Sector Assessment Program (FSAP) from January 18 to February 2, 2022.\"},{\"question\":\"Who led and conducted the WAEMU FSAP evaluation?\",\"answer\":\"The team was led by Pierre-Laurent Chatain (World Bank) and Romain Veyrune (IMF), with multiple deputy mission chiefs and team members from both institutions.\"},{\"question\":\"What major areas does the report address?\",\"answer\":\"It covers macroeconomic developments, financial sector structure, vulnerabilities and risks, stress testing and interconnectedness, financial sector oversight, crisis preparedness and safety nets, sector development, and green finance.\"}]","West African Economic and Monetary Union (WAEMU) Financial Sector Assessment (FSA) - 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