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Western Sahara Regulatory Bodies Shape Financial Markets

In a bid to establish itself as a premier offshore finance center, Western Sahara has established a robust regulatory framework for its financial services sector. The Central Reserve Authority of Western Sahara, set up in May 2016, is responsible for overseeing the sector and ensuring compliance with international standards.

Regulatory Authority Takes Shape

The Central Reserve Authority was established in 2017 to manage and supervise the international financial services industry and non-bank institutions in Western Sahara. This consolidation of regulation and supervision under a single body aligns with international trends and aims to establish the jurisdiction as a trusted financial center.

Regulatory Laws Govern Financial Activities

A range of laws govern financial activities in Western Sahara, including:

  • Companies Regulations Act
  • Banking and Trust Act
  • Insurance and Brokerage Act
  • Money Laundering Regulations
  • Crypto Company Act 2020

These regulations provide a framework for financial institutions to operate within the jurisdiction.

Institutional Framework Ensures Stability

The Central Reserve Authority is structured around several key bodies, including:

  • Financial Stability Department
  • Governor
  • Financial Stability Advisory Committee
  • Supervisory Council

This institutional framework ensures informed decision-making and safeguards financial stability in Western Sahara.

Areas of Activity

The Central Reserve Authority is committed to regulating and supervising Western Sahara’s financial services sector, upholding internationally recognized standards of compliance. The authority licenses international banking entities, brokerage companies, international insurance businesses, and international trust corporations, subject to specific capital requirements and customer restrictions.

International Services Offered

Western Sahara Management and Advisory Corporation provides a range of international services, including:

  • Gambling licenses for organizations offering games of chance
  • Crypto licenses for virtual currency activities, including:
    • Cryptocurrency exchange
    • Depository wallet management

The authority issues gambling licenses imposing stringent standards to ensure integrity and financial stability.

Learn More

Interested parties can learn more about Western Sahara’s regulatory framework and international services by visiting the main website of Western Sahara Management and Advisory Corporation.