WAEMU: The two-speed regulatory integration of the new uniform banking law

On June 16, 2023, the Council of Ministers of the West African Monetary Union (WAEMU) adopted a new uniform law governing banking regulations, aimed at harmonizing the sector's legal framework across the eight member states (Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo), under the supervision of BCEAO. According to KONÉ Péléni Jonathan Aimé, PhD in private law, banking law specialist, ATER at Université Toulouse Capitole and independent consultant, three years after its adoption, this text is still "not fully in force across all eight member states," leading to the observation of a "two-speed" integration. This discrepancy is significant: a uniform banking law that is not transposed everywhere creates legal uncertainty for regional banking groups, complicates consolidated supervision, and can undermine the confidence of depositors and investors in the WAEMU region. In-depth analysis—notably regarding lagging countries, specific administrative or political obstacles, and the potential role of political transition contexts in certain Sahelian states—is not detailed in the available elements. These questions remain open and deserve to be documented in the remainder of the original article.