{"id":1301,"date":"2023-05-24T15:23:04","date_gmt":"2023-05-24T15:23:04","guid":{"rendered":"https:\/\/www.fgd-umoa.org\/faq\/"},"modified":"2023-05-29T22:47:37","modified_gmt":"2023-05-29T22:47:37","slug":"faq","status":"publish","type":"page","link":"https:\/\/www.fgd-umoa.org\/en\/faq\/","title":{"rendered":"FAQ"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1301\" class=\"elementor elementor-1301\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4b6e2c4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4b6e2c4\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5faa128\" data-id=\"5faa128\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1483dbb elementor-widget elementor-widget-spacer\" data-id=\"1483dbb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f58dfe elementor-widget elementor-widget-heading\" data-id=\"1f58dfe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">GENERAL QUESTIONS<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-edca1e6 elementor-widget elementor-widget-spacer\" data-id=\"edca1e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d33717c elementor-widget elementor-widget-elementskit-accordion\" data-id=\"d33717c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >\n        <div class=\"elementskit-accordion accoedion-primary\" id=\"accordion-6a0b31bf1b46c\">\n\n            \n                <div class=\"elementskit-card active\">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-0-d33717c\">\n                        <a href=\"#collapse-7c392b26a0b31bf1b46c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-7c392b26a0b31bf1b46c\" aria-expanded=\"true\" aria-controls=\"Collapse-7c392b26a0b31bf1b46c\">\n                                                            <div class=\"ekit_accordion_icon_left_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i class=\"fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                            <span class=\"ekit-accordion-title\">What is the FGDR-UMOA ?<\/span>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-7c392b26a0b31bf1b46c\" class=\" show collapse\" aria-labelledby=\"primaryHeading-0-d33717c\" data-parent=\"#accordion-6a0b31bf1b46c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The Deposit Insurance and Resolution Fund in the West African Monetary Union (FGDR-UMOA) is a community institution of an economic and financial nature, endowed with legal personality and financial autonomy.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-1-d33717c\">\n                        <a href=\"#collapse-91d7cd66a0b31bf1b46c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-91d7cd66a0b31bf1b46c\" aria-expanded=\"false\" aria-controls=\"Collapse-91d7cd66a0b31bf1b46c\">\n                                                            <div class=\"ekit_accordion_icon_left_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i class=\"fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                            <span class=\"ekit-accordion-title\">What are the missions of the FGDR-UMOA ?<\/span>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-91d7cd66a0b31bf1b46c\" class=\" collapse\" aria-labelledby=\"primaryHeading-1-d33717c\" data-parent=\"#accordion-6a0b31bf1b46c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The Fund's missions are to guarantee deposits for clients of Banking and Microfinance Institutions approved in the WAMU and to participate in the resolution of institutions subject to this regime. As such, it is responsible for:<\/p>\n<p>reimbursing depositors, in the event of unavailability of their assets, within the limit of a ceiling defined by the Council of Ministers of the WAMU;<\/p>\n<p>financing resolution actions at the request of the Resolution College of the Banking Commission (CB-UMOA);<\/p>\n<p>conducting actions, mainly in partnership with other stakeholders, for the promotion of financial culture in WAMU member states.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-2-d33717c\">\n                        <a href=\"#collapse-bd327496a0b31bf1b46c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-bd327496a0b31bf1b46c\" aria-expanded=\"false\" aria-controls=\"Collapse-bd327496a0b31bf1b46c\">\n                                                            <div class=\"ekit_accordion_icon_left_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i class=\"fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                            <span class=\"ekit-accordion-title\">What is a failure ?<\/span>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-bd327496a0b31bf1b46c\" class=\" collapse\" aria-labelledby=\"primaryHeading-2-d33717c\" data-parent=\"#accordion-6a0b31bf1b46c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>In the UMOA, are declared at failure, any financial institutions which are not able to ensure their payments, immediately or at short term. Such a situation makes the assets held by depositors unavailable.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-3-d33717c\">\n                        <a href=\"#collapse-f4fedd56a0b31bf1b46c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-f4fedd56a0b31bf1b46c\" aria-expanded=\"false\" aria-controls=\"Collapse-f4fedd56a0b31bf1b46c\">\n                                                            <div class=\"ekit_accordion_icon_left_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i class=\"fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                            <span class=\"ekit-accordion-title\">Which institutions are members of the Fund ?<\/span>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-f4fedd56a0b31bf1b46c\" class=\" collapse\" aria-labelledby=\"primaryHeading-3-d33717c\" data-parent=\"#accordion-6a0b31bf1b46c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The list of FGDR-UMOA <a href=\"https:\/\/www.fgd-umoa.org\/en\/membership\/member-banks\/\">member institutions<\/a> is available.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-4-d33717c\">\n                        <a href=\"#collapse-8018c396a0b31bf1b46c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-8018c396a0b31bf1b46c\" aria-expanded=\"false\" aria-controls=\"Collapse-8018c396a0b31bf1b46c\">\n                                                            <div class=\"ekit_accordion_icon_left_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i class=\"fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                            <span class=\"ekit-accordion-title\">What is the deposit guarantee ?<\/span>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-8018c396a0b31bf1b46c\" class=\" collapse\" aria-labelledby=\"primaryHeading-4-d33717c\" data-parent=\"#accordion-6a0b31bf1b46c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The deposit guarantee or deposit insurance is a mechanism for protecting the assets of depositors by paying them compensation in the event of failure of a member institution.<\/p>\n<p>In the UMOA, this mechanism is implemented by the Deposit Insurance and Resolution Fund to which all Banks and Microfinance institutions under the Article 44 provision of the Law regulating decentralized financial systems.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-5-d33717c\">\n                        <a href=\"#collapse-df09e7e6a0b31bf1b46c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-df09e7e6a0b31bf1b46c\" aria-expanded=\"false\" aria-controls=\"Collapse-df09e7e6a0b31bf1b46c\">\n                                                            <div class=\"ekit_accordion_icon_left_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i class=\"fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                            <span class=\"ekit-accordion-title\">What is a deposit in a bank or in a microfinance institution ?<\/span>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-df09e7e6a0b31bf1b46c\" class=\" collapse\" aria-labelledby=\"primaryHeading-5-d33717c\" data-parent=\"#accordion-6a0b31bf1b46c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>A deposit is the operation by which a natural or legal person remits  to their financial institution funds that should be kept safe. During this retention period, the institution holds the right to dispose of this deposit for its own account, but must return it according to specific terms.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-6-d33717c\">\n                        <a href=\"#collapse-2681c5c6a0b31bf1b46c\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-2681c5c6a0b31bf1b46c\" aria-expanded=\"false\" aria-controls=\"Collapse-2681c5c6a0b31bf1b46c\">\n                                                            <div class=\"ekit_accordion_icon_left_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n                                        <i class=\"fas fa-plus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                            <span class=\"ekit-accordion-title\">How do I know if my establishment is covered or not by the FGDR-UMOA deposit guarantee ?<\/span>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-2681c5c6a0b31bf1b46c\" class=\" collapse\" aria-labelledby=\"primaryHeading-6-d33717c\" data-parent=\"#accordion-6a0b31bf1b46c\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The institutions covered by the FGDR-UMOA appear on a regularly updated list published on the FGDR-UMOA website.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                                        <\/div>\n    <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-21a9bc4 elementor-widget elementor-widget-spacer\" data-id=\"21a9bc4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d084f6b elementor-widget elementor-widget-heading\" data-id=\"d084f6b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">KNOWING MY GUARANTEES<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6553059 elementor-widget elementor-widget-spacer\" data-id=\"6553059\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-66add4a elementor-widget elementor-widget-elementskit-accordion\" data-id=\"66add4a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >\n        <div class=\"elementskit-accordion accoedion-primary\" id=\"accordion-6a0b31bf1c853\">\n\n            \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-0-66add4a\">\n                        <a href=\"#collapse-7c392b26a0b31bf1c853\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-7c392b26a0b31bf1c853\" aria-expanded=\"false\" aria-controls=\"Collapse-7c392b26a0b31bf1c853\">\n                            \n                            <span class=\"ekit-accordion-title\">What are the guaranteed and unsecured deposits by the FGDR-UMOA ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-7c392b26a0b31bf1c853\" class=\" collapse\" aria-labelledby=\"primaryHeading-0-66add4a\" data-parent=\"#accordion-6a0b31bf1c853\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>Guaranteed and unsecured deposits are specified in Articles 23 and 24 of the Fund's articles of association:<\/p>\n<p><strong>Article 23: Eligible deposits<\/strong><\/p>\n<p>Deposits denominated in CFA francs and held by natural or legal persons are guaranteed, within the limit set by the Council of Ministers, namely:<\/p>\n<ul>\n<li>demand or term deposits;<\/li>\n<li>passbook accounts and savings plans;<\/li>\n<li>the credit balance of current accounts or ordinary accounts;<\/li>\n<li>security collaterals when they become due;<\/li>\n<li>any other amount owed to customers for banking transactions at the rate of the date of accounts closing.<\/li>\n<\/ul>\n<p><strong>Article 24: Non-eligible deposits<\/strong><\/p>\n<p>The following are not considered to be deposits eligible for the Fund guarantee:<\/p>\n<ul>\n<li>deposits from Member States of the Union, central administrations, public establishments and local authorities;<\/li>\n<li>foreign currency deposits;<\/li>\n<li>deposits from Banks, Microfinance institutions and Investment Firms;<\/li>\n<li>deposits from insurance and reinsurance companies;<\/li>\n<li>negotiable debt securities;<\/li>\n<li>deposits from brokerage firms and collective investment organizations in transferable securities;<\/li>\n<li>deposits from pension organizations and pension funds;<\/li>\n<li>deposits from shareholders holding at least ten percent of the capital of Banking and Microfinance institutions;<\/li>\n<li>deposits from members of the Board of Directors, managers and auditors of Banking and Microfinance institutions;<\/li>\n<li>subordinated deposits and loans;<\/li>\n<li>deposits from transactions for which a criminal conviction has been handed down against the depositor for a money laundering or terrorist financing offense;<\/li>\n<li>any other deposit previously declared as ineligible by the Board of Directors.<\/li>\n<\/ul>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-1-66add4a\">\n                        <a href=\"#collapse-7c93a726a0b31bf1c853\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-7c93a726a0b31bf1c853\" aria-expanded=\"false\" aria-controls=\"Collapse-7c93a726a0b31bf1c853\">\n                            \n                            <span class=\"ekit-accordion-title\">How does the deposit guarantee apply to a joint account ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-7c93a726a0b31bf1c853\" class=\" collapse\" aria-labelledby=\"primaryHeading-1-66add4a\" data-parent=\"#accordion-6a0b31bf1c853\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The balance of the joint account is distributed equitably among its joint owners (unless otherwise stipulated in the account agreement) who are reimbursed separately in accordance with the compensation ceiling.<\/p>\n<p>Where applicable, for the calculation of the total amount to be reimbursed per depositor, the share of each joint holder is added to his own assets held in his or her individual account (s) opened in the same member financial institution.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-2-66add4a\">\n                        <a href=\"#collapse-4784fce6a0b31bf1c853\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-4784fce6a0b31bf1c853\" aria-expanded=\"false\" aria-controls=\"Collapse-4784fce6a0b31bf1c853\">\n                            \n                            <span class=\"ekit-accordion-title\">What is the compensation limit for depositors of banks and those of microfinance institutions ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-4784fce6a0b31bf1c853\" class=\" collapse\" aria-labelledby=\"primaryHeading-2-66add4a\" data-parent=\"#accordion-6a0b31bf1c853\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <ul>\n<li>1,400,000 FCFA per depositor of a credit institution<\/li>\n<li>300,000 FCFA per depositor of a microfinance institution<\/li>\n<\/ul>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-3-66add4a\">\n                        <a href=\"#collapse-5b3a7046a0b31bf1c853\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-5b3a7046a0b31bf1c853\" aria-expanded=\"false\" aria-controls=\"Collapse-5b3a7046a0b31bf1c853\">\n                            \n                            <span class=\"ekit-accordion-title\">Can I take out additional protection for my deposits in the event of non-full compensation of my deposits by the FGDR-UMOA ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-5b3a7046a0b31bf1c853\" class=\" collapse\" aria-labelledby=\"primaryHeading-3-66add4a\" data-parent=\"#accordion-6a0b31bf1c853\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>No, it is not possible to take out additional protection in the event of non-full reimbursing for depositors. Compensation for deposits not covered by the FGDR-UMOA guarantee is made, where applicable, by the liquidator on the proceeds from the sale of the assets of the institution in liquidation.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-4-66add4a\">\n                        <a href=\"#collapse-8eeecdb6a0b31bf1c853\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-8eeecdb6a0b31bf1c853\" aria-expanded=\"false\" aria-controls=\"Collapse-8eeecdb6a0b31bf1c853\">\n                            \n                            <span class=\"ekit-accordion-title\">I have deposits in different branches of the same member institution. Are my deposits separately guaranteed ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-8eeecdb6a0b31bf1c853\" class=\" collapse\" aria-labelledby=\"primaryHeading-4-66add4a\" data-parent=\"#accordion-6a0b31bf1c853\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>Yes, within the limit of the ceiling per depositor and per member institution.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-5-66add4a\">\n                        <a href=\"#collapse-f6bbebb6a0b31bf1c853\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-f6bbebb6a0b31bf1c853\" aria-expanded=\"false\" aria-controls=\"Collapse-f6bbebb6a0b31bf1c853\">\n                            \n                            <span class=\"ekit-accordion-title\">What happens to my deposits if two member institutions merge ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-f6bbebb6a0b31bf1c853\" class=\" collapse\" aria-labelledby=\"primaryHeading-5-66add4a\" data-parent=\"#accordion-6a0b31bf1c853\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>Following the merger of two member institutions, deposits will continue to benefit from the Fund's guarantee up to the limit of the compensation ceiling.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-6-66add4a\">\n                        <a href=\"#collapse-df574bf6a0b31bf1c853\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-df574bf6a0b31bf1c853\" aria-expanded=\"false\" aria-controls=\"Collapse-df574bf6a0b31bf1c853\">\n                            \n                            <span class=\"ekit-accordion-title\">Who should I contact for more information ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-df574bf6a0b31bf1c853\" class=\" collapse\" aria-labelledby=\"primaryHeading-6-66add4a\" data-parent=\"#accordion-6a0b31bf1c853\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>Deposit Insurance and Resolution Fund in the WAMU (FGDR-UMOA)<\/p>\n<p>Boulevard du G\u00e9n\u00e9ral De GAULLE<\/p>\n<p>PO Box 3159 - Dakar - Senegal<\/p>\n<p>Phone: (+) 221 33 889 46 38<\/p>\n<p>Email: fgd@fgd-umoa.org<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                                        <\/div>\n    <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cbd4161 elementor-widget elementor-widget-spacer\" data-id=\"cbd4161\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4e8f7e0 elementor-widget elementor-widget-heading\" data-id=\"4e8f7e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">KNOWING THE RESOLUTION OF BANKING CRISES<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-849265a elementor-widget elementor-widget-spacer\" data-id=\"849265a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89dfc2c elementor-widget elementor-widget-elementskit-accordion\" data-id=\"89dfc2c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >\n        <div class=\"elementskit-accordion accoedion-primary\" id=\"accordion-6a0b31bf1dc14\">\n\n            \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-0-89dfc2c\">\n                        <a href=\"#collapse-7c392b26a0b31bf1dc14\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-7c392b26a0b31bf1dc14\" aria-expanded=\"false\" aria-controls=\"Collapse-7c392b26a0b31bf1dc14\">\n                            \n                            <span class=\"ekit-accordion-title\">What is banking crisis resolution ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-7c392b26a0b31bf1dc14\" class=\" collapse\" aria-labelledby=\"primaryHeading-0-89dfc2c\" data-parent=\"#accordion-6a0b31bf1dc14\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The resolution is the set of rules governing the mechanisms for preventing and managing banking crises.<\/p>\n<p>WAMU's systemically important banking institutions, as well as their subsidiaries concerned, are subject to the resolution regime. The resolution regime is extended to any other credit institution, financial company, decentralized financial system, market infrastructure or any entity subject to the supervision of the Banking Commission on the territory of a Member State, the failure of which may have a significant impact. on the financial stability or on the economy of one or more Member States of the Union.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-1-89dfc2c\">\n                        <a href=\"#collapse-b0805af6a0b31bf1dc14\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-b0805af6a0b31bf1dc14\" aria-expanded=\"false\" aria-controls=\"Collapse-b0805af6a0b31bf1dc14\">\n                            \n                            <span class=\"ekit-accordion-title\">What is the role of the FGDR-UMOA in resolving banking crises ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-b0805af6a0b31bf1dc14\" class=\" collapse\" aria-labelledby=\"primaryHeading-1-89dfc2c\" data-parent=\"#accordion-6a0b31bf1dc14\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>The role of the FGDR-UMOA is to finance resolution actions at the request of the Resolution College of the Banking Commission of the UMOA.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                                        <\/div>\n    <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-304f190 elementor-widget elementor-widget-spacer\" data-id=\"304f190\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-199e1b7 elementor-widget elementor-widget-heading\" data-id=\"199e1b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">KNOWING THE REIMBURSING PROCEDURE<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e553953 elementor-widget elementor-widget-spacer\" data-id=\"e553953\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5de8496 elementor-widget elementor-widget-elementskit-accordion\" data-id=\"5de8496\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >\n        <div class=\"elementskit-accordion accoedion-primary\" id=\"accordion-6a0b31bf1ec55\">\n\n            \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-0-5de8496\">\n                        <a href=\"#collapse-7c392b26a0b31bf1ec55\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-7c392b26a0b31bf1ec55\" aria-expanded=\"false\" aria-controls=\"Collapse-7c392b26a0b31bf1ec55\">\n                            \n                            <span class=\"ekit-accordion-title\">What is the compensation period retained by the FGDR-UMOA ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-7c392b26a0b31bf1ec55\" class=\" collapse\" aria-labelledby=\"primaryHeading-0-5de8496\" data-parent=\"#accordion-6a0b31bf1ec55\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>In accordance with the depositors compensation procedure, the FGDR-UMOA compensates depositors within three months.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                \n                <div class=\"elementskit-card \">\n                    <div class=\"elementskit-card-header\" id=\"primaryHeading-1-5de8496\">\n                        <a href=\"#collapse-b0805af6a0b31bf1ec55\" class=\"ekit-accordion--toggler elementskit-btn-link collapsed\" data-ekit-toggle=\"collapse\" data-target=\"#Collapse-b0805af6a0b31bf1ec55\" aria-expanded=\"false\" aria-controls=\"Collapse-b0805af6a0b31bf1ec55\">\n                            \n                            <span class=\"ekit-accordion-title\">What are the main steps in the procedure for indemnifying depositors in the event of insolvency of a member institution of the FGDR-UMOA ?<\/span>\n\n                            \n                                <div class=\"ekit_accordion_icon_group\">\n                                    <div class=\"ekit_accordion_normal_icon\">\n                                        <!-- Normal Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-minus\"><\/i>                                    <\/div>\n\n                                    <div class=\"ekit_accordion_active_icon\">\n                                        <!-- Active Icon -->\n\t\t\t\t\t\t\t\t\t\t<i class=\"fas fa-plus\"><\/i>                                    <\/div>\n                                <\/div>\n\n                            \n                                                    <\/a>\n                    <\/div>\n\n                    <div id=\"Collapse-b0805af6a0b31bf1ec55\" class=\" collapse\" aria-labelledby=\"primaryHeading-1-5de8496\" data-parent=\"#accordion-6a0b31bf1ec55\">\n\n                        <div class=\"elementskit-card-body ekit-accordion--content\">\n                            <p>Upon referral for compensation proceedings by the BCEAO or the Banking Commission, the FGDR-UMOA collects information on the depositors and deposits concerned.<\/p>\n<p>After processing the data collected, the Fund determines the amount of compensation due to each eligible depositor and makes payment by all appropriate means.<\/p>\n<p>Any complaints lodged by depositors are dealt with as quickly as possible.<\/p>\n                        <\/div>\n\n                    <\/div>\n\n                <\/div><!-- .elementskit-card END -->\n\n                                        <\/div>\n    <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-990b95b elementor-widget elementor-widget-spacer\" data-id=\"990b95b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>GENERAL QUESTIONS What is the FGDR-UMOA ? The Deposit Insurance and Resolution Fund in the West African Monetary Union (FGDR-UMOA) is a community institution of an economic and financial nature, endowed with legal personality and financial autonomy. What are the missions of the FGDR-UMOA ? The Fund&#8217;s missions are to guarantee deposits for clients of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":8,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-1301","page","type-page","status-publish","hentry"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.fgd-umoa.org\/en\/wp-json\/wp\/v2\/pages\/1301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fgd-umoa.org\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.fgd-umoa.org\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.fgd-umoa.org\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fgd-umoa.org\/en\/wp-json\/wp\/v2\/comments?post=1301"}],"version-history":[{"count":3,"href":"https:\/\/www.fgd-umoa.org\/en\/wp-json\/wp\/v2\/pages\/1301\/revisions"}],"predecessor-version":[{"id":1431,"href":"https:\/\/www.fgd-umoa.org\/en\/wp-json\/wp\/v2\/pages\/1301\/revisions\/1431"}],"wp:attachment":[{"href":"https:\/\/www.fgd-umoa.org\/en\/wp-json\/wp\/v2\/media?parent=1301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}