Regulatory Updates & Compliance Documents

Stay current with banking guidelines, licensing checklists, and financial reporting standards governing Islamic microfinance across CEMAC, UMOA/WAEMU, Nigeria, and international standard setters.

Download Resources Official Regulations

Compliance Documents

Download templates, checklists, and reference guides prepared for Islamic microfinance institutions.

Compliance Checklist

Regional MFB & SFD Licensing Requirements

Based on Règlement N°01/17/CEMAC & BCEAO SFD Law

Complete requirements for Unit, Regional, and Category 1, 2, and 3 EMF licences across CEMAC and UMOA/WAEMU. Covers Islamic windows, governance, and licensing dossiers.

CEMAC Category 1, 2, and 3 EMF application dossiers (COBAC N°01/17)

UMOA SFD Islamic window authorization annexes (Instruction 003-03-2018)

Fit-and-proper criteria for directors, auditors, and Shariah board members

12 pagesPDF

Official Sources:

BEAC Microfinance Regulations BCEAO SFD Regulatory Law UMOA Instruction 003-03-2018 (PDF)

Financial Reporting Guide

AAOIFI Financial Reporting Template

Based on AAOIFI FAS 1, FAS 44–47 & Illustrative Statements

Pre-formatted financial reporting guide and statement models compliant with AAOIFI standards. Covers balance sheets, income statements, quasi-equity, and profit-sharing investment accounts.

Compliant with FAS 1 and newly issued FAS 44–47 (Quasi-equity & Investment Accounts)

Dedicated schedules for Mudarabah, Murabaha, Ijara, and Musharakah

Automated Zakat calculation schedules and charity fund disclosures

28 pagesPDF

Official Sources:

AAOIFI Illustrative Financial Statements (PDF)AAOIFI Accounting Standards Portal

Implementation Guide

Shariah Governance Framework

Based on AAOIFI GS 1 (Revised 2024) & UMOA Inst. 003-03-2018

Best practices for establishing and maintaining an independent Shariah Supervisory Board / Conseil de Conformité, internal Shariah audit, and Fatwa workflows.

SSB charter, independence rules, and scholar qualification standards

Annual Shariah audit plan and compliance risk mapping routines

Fatwa issuance workflow, product sign-off forms, and annual reporting

45 pagesPDF

Official Sources:

UMOA Instruction N°003-03-2018 (PDF)AAOIFI Issued Governance Standards

Calculation Guide

Central Bank Liquidity Calculation Guide

Based on COBAC EMF 2002/14 & IFSB-12 Standard

Step-by-step calculation of Islamic liquidity ratios, reconciling central bank prudential coefficients with IFSB-12 liquidity risk standards.

COBAC EMF 2002/14 and UMOA prudential short-term liquidity formulas

IFSB-12 displaced commercial risk and Profit Equalization Reserve handling

High-Quality Shariah-Compliant Liquid Assets (HQLA) classification

18 pagesPDF

Official Sources:

IFSB-12 Liquidity Risk Management (PDF)COBAC EMF 2002/14 Liquidity Regulation (PDF)

Reference Matrix

Regional AML/KYC Document Matrix

Based on FATF Rec 10, Financial Inclusion & COBAC I-2006/01

Required identity documents and Customer Due Diligence (CDD) thresholds across CEMAC, UMOA, and Nigeria by customer type and risk classification.

Tiered KYC thresholds for financial inclusion under FATF guidance

Beneficial ownership (BO) verification protocols for legal entities

Suspicious transaction (STR/CTR) reporting trigger checklists

8 pagesPDF

Official Sources:

FATF Recommendations (Rec 10 CDD PDF)FATF Financial Inclusion & CDD Guidance COBAC AML/CFT Instructions

Contract Template

Mudarabah PSR Disclosure Template

Based on AAOIFI FAS 45 & UMOA Instruction N°005-05-2018

Customer-facing profit-sharing ratio disclosure statement and terms for unrestricted and restricted participatory investment accounts.

Explicit profit-sharing ratio (Rab-al-Mal vs. Mudarib) disclosure terms

Reserve deduction formulas (PER/IRR) compliant with UMOA SFD rules

Quarterly and annual profit distribution calculation disclosure notes

6 pagesPDF

Official Sources:

UMOA Instruction N°005-05-2018 (PDF)WAMU Banking Commission Islamic Finance Directory

Official Regulatory Repository

Direct access to laws, instructions, and international standards published by official regulatory bodies.

Central Africa (CEMAC / COBAC & BEAC)

Banque des États de l'Afrique Centrale & COBAC

BEAC Règlements de la Microfinance

Full collection of CEMAC microfinance laws, covering EMF categories (1st, 2nd, 3rd), licensing, and governance (Règlement N°01/17).

Open Official Document

Règlement COBAC EMF 2002/14 (Liquidité des EMF)

Official statutory prudential liquidity requirement and short-term asset coverage ratio for CEMAC microfinance institutions.

Open Official Document

Instructions COBAC de Microfinance (Comptabilité & Déclarations)

COBAC periodic reporting, prudential declarations, and accounting chart instructions for microfinance institutions.

Open Official Document

Instructions COBAC AML/CFT (I-2006/01)

Official supervisory directives on the prevention of money laundering, terror financing, and internal control systems.

Open Official Document

West Africa (UMOA / BCEAO & Commission Bancaire)

Banque Centrale des États de l'Afrique de l'Ouest

Loi Portant Réglementation des SFD de l'UMOA

Primary legal foundation governing Decentralized Financial Systems (SFDs), licensing, and networks across WAEMU.

Open Official Document

Instruction N°003-03-2018 (SFD Islamiques & Gouvernance)

Mandatory authorization procedures, independent Shariah Board (min. 3 members), compliance audit, and application annexes.

Open Official Document

Instruction N°005-05-2018 (Opérations de Finance Islamique)

Technical definitions, contract rules, and accounting treatment for Murabaha, Mudarabah, Musharakah, Ijara, and Salam.

Open Official Document

Commission Bancaire de l'UMOA (Recueil Finance Islamique)

Official supervisory portal hosting all WAMU Banking Commission Islamic finance instructions and circulars.

Open Official Document

International Standards (AAOIFI, IFSB & FATF)

Global Islamic & Prudential Standard Setters

AAOIFI Illustrative Financial Statements for IFIs

Official model statements and disclosure notes for Islamic institutions, unrestricted investment accounts, and Shariah income.

Open Official Document

AAOIFI Financial Accounting Standards Portal (FAS 1 & FAS 44–47)

Authoritative standards catalog including newly issued FAS 44 (Control), FAS 45 (Quasi-equity), and FAS 46–47.

Open Official Document

AAOIFI Shari'ah Governance Standards (GS 1 to GS 21)

Includes GS 1 (Revised 2024 Shari'ah Governance Framework) and standards on SSB composition, audit, and reporting.

Open Official Document

IFSB-12 Liquidity Risk Management Guidelines

Official international guiding principles on liquidity risk, displaced commercial risk (DCR), and liquidity buffer composition.

Open Official Document

FATF 40 Recommendations (Recommendation 10 CDD)

International standards on combatting money laundering, customer identification, beneficial ownership, and PEP controls.

Open Official Document

Compliance Webinars

Join our expert sessions on regulatory compliance and Islamic finance operations.

Upcoming

Navigating Regional Islamic Banking Regulations

April 15, 2026

COBAC N°01/17UMOA Inst. 003-03-2018Licensing

Upcoming

AAOIFI Financial Reporting in Practice

May 3, 2026

FAS 44–47Investment AccountsGL Audit

Recorded

AML/CFT for Islamic MFBs

March 28, 2026

FATF Rec 10Digital IDKYC Tiering

Watch Recording

Questions about compliance?

Our compliance team can help you navigate regional central bank and AML/CFT requirements (such as CBN, COBAC, BCEAO, and GABAC) for your institution.

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