The Regional Council for Public Savings and Financial Markets (CREPMF) of the West African Monetary Union (UMOA) joined, on Monday, the flagship program of support for financial market regulators in Africa, or "Financial Sector Deepening Africa. This continent-wide initiative aims to restore and strengthen investor confidence in domestic financial markets by aligning regulation and compliance with international standards. CREPMF becomes the ninth partner to join the program and the first from Francophone Africa The program will support an institutional capacity assessment to review CREPMF's internal operations and identify areas that require strengthening and improvement. It will also support the CREPMF in the establishment of a historical legal, political and regulatory framework for the establishment of Islamic capital markets in the regional financial market of WAMU. He will support important work to develop Islamic capital markets for the benefit of the region as a whole. FSD Africa, a specialist development agency funded by UK aid, brings particular expertise in the development of Islamic capital markets. The two-and-a-half-year Support to Financial Market Regulators in Africa program provides funding to build the capacity of the continent's financial market regulators, provides world-class technical assistance, encourages close collaboration between these bodies and conducts research to support the development of new policies and regulations. “I am very pleased that the UK is supporting the development of capital markets in the WAEMU space. A vibrant private sector is key to long-term sustainable development. Companies constantly tell us about the challenges they face in mobilizing capital and I am convinced that this program is a step towards meeting this challenge by strengthening financial markets and boosting investor confidence," said the UK's Ambassador to Côte d'Ivoire, Josephine Gauld . For his part, CREPMF President, Mamadou Ndiaye, said that "CREPMF is proud to be a French-speaking regulator who can benefit from the support of a British development agency. This funding, which benefits the regional financial market , will reinforce the considerable efforts made by the WAMU States within the framework of the market reform project." “FSD Africa is delighted to see the flagship program of support for financial market regulators in Africa extend to WAMU. This market represents a huge opportunity to contribute to the growth of capital markets in the West African region. West while developing critical building blocks that are important for larger local and international investments Strong capital markets are essential tools for reducing poverty and promoting economic growth, as they unlock resources that contribute to the growth and development of the real economy,” said FSD Africa Director Mark Napier. It is a specialized development agency working to reduce poverty by strengthening financial markets in sub-Saharan Africa. Based in Nairobi, its team of financial sector experts works alongside governments, business leaders, regulators and policymakers to design and build ambitious programs that make financial markets better for all. Incorporated in Kenya in 2012, FSD Africa is a not-for-profit company limited by guarantee. It is funded by UK aid from the UK government.

The Regional Council for Public Savings and Financial Markets (CREPMF), created by an agreement concluded on July 3, 1996 between the member states of WAMU and based in Abidjan (Côte d'Ivoire), is the regional authority for regulation of WAMU financial markets, ensuring the protection of savings invested in securities, the dissemination of information to investors and the proper functioning of financial markets. The establishment of the WAMU regional financial market is enshrined in the Treaty establishing the West African Monetary Union (WAMU) whose signatories are: Benin, Burkina Faso, Côte d'Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo.

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