The actors of the Islamic finance sector in the Uemoa (West African Economic and Monetary Union) met in Lomé on February 24, 2022. The objective of this meeting is to work on the regulation of Islamic Finance.

Thanks to a workshop organized by the Regional Council for Public Savings and Financial Markets (CREPMF), players in Islamic finance are working to adopt a regulatory framework in this area. The exchanges revolved around the texts, with a view to their adoption by the political authorities. “The meeting on Islamic finance aims to gather comments from commercial stakeholders and the general public on the draft regulatory framework; then to finalize, at the same time, the draft regulatory texts with the consideration of residual observations, before their presentation to the WAMU Council of Ministers”, indicated the Togolese Ministry of Economy and Finance.

In particular, this involved collecting comments from commercial stakeholders and the general public on the draft regulatory framework, and finalizing the draft regulatory texts, before their presentation to the WAMU Council of Ministers. This development of the CREPMF intervenes in a context where this financing tool knows a certain success among the countries of the UEMOA. Thus, there is the successful issue of Sukuk (Islamic financial security), carried out by WAMU member states.