Mali: CLOSURE OF COUNTERS AND NON-AVAILABILITY OF THE BCEAO BANKING CLEARING SYSTEM THESE DECISIONS HAVE A NEGATIVE IMPACT ON THE RATHER FRAGILE SITUATION OF MALIAN COMPANIES

BCEAO headquarters on the banks of the Niger River in Bamako

The sanctions taken against our country following the coup d'etat of August 18, 2020 are making people cringe. Faced with this situation, which has negative impacts on companies, trade unionists in the sector are not standing idly by. They intend to fully play their role. Sources reveal that since the decision on the embargo on Mali, there is no longer any transaction between Malian banks and those of member countries of the Central Bank of West African States (BCEAO) . This is more than a blow for our country which has been suffering since 2012.

In a rule of law like ours, the coup has negative impacts on all sectors. The one perpetrated by the National Committee for the Salvation of the People (CNSP) is no exception to this rule. The buzzing is heard in several sectors. In view of the suffering of each other, the National Syndicate of Banks, Insurance, Financial Institutions and Businesses of Mali (SYNABEF) and the National Federation of Petroleum, Insurance, Businesses and Banks of Mali (FENPECAB) have decided to react with a view to to find solutions to the various concerns. These two organisations, which are concerned about the concerns of their members, mention that they are following with great concern the decisions taken by the Central Bank of West African States (BCEAO) with regard to the closing of its counters and the the non-availability of the bank clearing system.

The National Syndicate of Banks, Insurance, Financial Institutions and Commerce of Mali (SYNABEF) and the National Federation of Petroleum, Insurance, Commerce and Banks of Mali (FENPECAB) believe that these decisions which follow the embargo measures decreed by the Bank Central West African States (BCEAO) on August 18, 2020, in particular "the cessation of all economic, commercial and financial flows and transactions between ECOWAS member countries and Evil"i, negatively impact the rather fragile situation of the companies and carry an enormous damage to the customers especially in this period of payment of the wages. Faced with this situation which prevents certain actors from sleeping, SYNABEF and FENPECAB invite the monetary authorities to reconsider this position which contributes to further weakening our Institutions and exposing them to social revolt.

They make it known that this decision also affects the populations more in the difficult context that our country has been going through since 2012. With regard to (…)