The actors of the regional financial market were in Lomé, Thursday, February 24, for a workshop organized by the Regional Council for Public Savings and Financial Markets (CREPMF) with the aim of finalizing the draft regulatory texts before their presentation to the Council of Ministers of the West African Monetary Union (UMOA).
Held face-to-face and by videoconference, this meeting brought together around fifty participants, mainly financial market players such as public treasury departments, benchmark issuers, central structures, intermediation and UCITS management companies. , as well as professionals and enthusiasts of Islamic finance, among others. Among them, Edoh Kossi Amenounvé, the general manager of the Regional Stock Exchange (BRVM).
This workshop was an opportunity for participants to make amendments to the general regulations of CREPMF, the general regulations of the BRVM, the regulations relating to Sukuk and Common Funds for the issuance of Sukuk, among others.
“While the African population is approximately 50% Muslim, WAMU is not left out and the population of some member states is close to the 90% threshold. Although our zone was positioned in 2016 as the first region in Africa for the issuance of Sukuks, it is clear that unlike international financial centers, West African populations are relatively poorly educated in financial matters and stock market, and Islamic finance in particular”, declared CREPMF Secretary General, Ripert Bossoukpé, at the opening of the meeting.
As a reminder, six Sukuk issues have already been carried out on the Umoa regional market since the launch of this tool in November 2015.
