Development of West African Monetary Institute Payment System
The West African Monetary Institute (WAMI) has been instrumental in establishing a payment and settlement system within the West African Monetary Zone (WAMZ). The institute's efforts have focused on promoting cross-border transactions and economic integration among member countries, with the ultimat
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Challenges and Prospects of Establishing a Payment System in the West African Monetary Zone
The West African Monetary Zone (WAMZ) is striving to create a zonal payment and settlement system for cross-border transactions, aiming at economic integration for a common central bank and single currency. This initiative faces challenges but also holds promising prospects for regional financial in
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Risk Management Strategies for Agents in Financial Services
Managing risks with agents involves addressing issues like inadequate liquidity, fraud, compliance risks, and counterfeit currency. Mitigation strategies include daily monitoring, capitalization requirements, training, and clear processes. Penalties for non-compliance range from warnings to terminat
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