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Financial market: AMF-UMOA adopts an instruction on Islamic collective investment organizations

02/03/2023
Source : ORISHAS FINANCE
Categories: Index/Markets

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L The Financial Markets Authority of the West African Monetary Union (AMF-UMOA), based on instrument N0 069/AMF-UMOA/2023 signed on 20 February 2023, by its President Badanam Patoki, set the rules relating to Islamic collective investment funds (UCIs) and their management companies on the UMOA regional financial market. The instrument contains 13 articles and does not derogate Islamic mutual funds from the provisions in force applicable to participants on the financial market “as long as there is no derogation from this instruction” (Article 2, paragraph 2).

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