Ivory Coast: Banks Sanctioned for Abusive Withdrawals and Other Violations

The UMOA banking commission sanctioned about ten banks, some in Ivory Coast, for multiple withdrawals and governance, anti-money laundering, and prudential ratio violations. These measures are part of a stricter regulatory crackdown in 2026, with more warnings and sanctions issued compared to the previous year. Several Ivorian clients reported incorrect debits on their accounts, leading to overdrafts and financial difficulties, while consumer groups demand quicker refunds and improved complaint handling.