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College of Supervisors

BANKING AND NON-BANKING SECTOR INTEGRATION 

The WAMZ banking and non-banking sector integration efforts are usually done through the arrangements of the College of Supervisors of the WAMZ (CSWAMZ) and the College of Supervisors for Non-Bank Financial Institutions (CSNBFI), where WAMI serves as secretariat. Over the period, a number of initiatives and activities have been carried out aimed at harmonising the legal, regulatory and supervisory frameworks of the banking and non-banking sectors of Member States in the Zone.

 

College of Supervisors of the West African Monetary Zone (CSWAMZ) 

The CSWAMZ was established with the purpose of providing a common platform for regulators from the WAMZ countries to come together to discuss how to oversee individual and cross border financial institutions in the Zone. By coming together in a structured way, supervisors are able to learn from each other and develop best practice on supervision across national boundaries. The Charter establishing the College was ratified by the Committee of Governors of the WAMZ on 31 July, 2010. On 7 February 2019, the CSWAMZ Charter was revised to reflect the dynamic developments in the banking sectors of the WAMZ.

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College of Supervisors of Non-Bank Financial Institutions (CSNBFI) in the WAMZ

On November 15, 2019, the College of Supervisors for Non-Bank Financial Institutions (CSNBFI) of the West African Monetary Zone (WAMZ) was inaugurated at the West African Monetary Institute (WAMI), Accra Ghana by the representative of the Honourable Governor of the Bank of Ghana (BoG), Dr. Ernest K.Y. Addison. The new College was approved by the CoG at its 39th Meeting held in Conakry Guinea to provide the platform for exchange of knowledge and information, harmonisation of the legal and regulatory framework and review developments in the non-bank financial institutions (NBFI) sectors in respective Member States of the WAMZ.

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