The Central Bank of West African States (, BCEAO) is a central bank serving the eight west African countries which share the common West African CFA franc currency and comprise the West African Economic and Monetary Union.
The BCEAO is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.[2]
History
In 1955, the French government transferred the note-issuance privilege for its West African colonies, hitherto held by the Banque de l'Afrique Occidentale, to a newly created entity based in Paris, the Institut d'émission de l'Afrique occidentale française et du Togo. In 1959, the latter's name was changed to BCEAO.[3][4][5]
The treaty establishing the West African Monetary Union