Societe Generale Burkina Faso (SGBF) organized a training workshop on mastering Foreign Exchange for the benefit of its customers on Monday February 27, 2023 in Bobo-Dioulasso. This strengthening of capabilities aims to optimize the use of Foreign Exchange through compliance with defined standards by the Ministry of Finance and monetary institutions.
« Better understand the regulations of international operations is the theme that brought together Societe Generale Burkina Faso (SGBF) and its clients around the training workshop on the use of Foreign Exchange services.
According to Benjamin Ilboudo, Head of Foreign Exchange Services at Societe Generale Burkina Faso (SGBF), this product is dedicated to the execution of international transactions.
« Foreign Exchange covers among other things foreign exchange trading, foreign currency issues for the execution of transfer orders with various currencies to multiple destinations ».
Strategy
And the world has become a global village, the organization of this training in the city of Bobo-Dioulasso, economic capital of Burkina Faso meets a “strategic” need insofar as it will allow to tune its violins with those of its customers for their optimal use of international transaction services.
« Compliance with regulations aims to protect our space. It will be a question for us of going to seek the currencies upstream to execute the orders of our customers who, in turn, must present the documents required for their transactions. For example, there are suppliers who, in accordance with the texts in force, must have a special authorization to import certain products such as milk and rice. recalls Benjamin Ilboudo, Head of Foreign Exchange Services at Societe Generale Burkina Faso (SGBF).
Protect yourself from penalties
Compliance with the texts regulating international transactions allows players to protect themselves from the sanctions provided for by the Ministry of Finance and monetary organisations.
The penalties range from fines to censorship for both the bank and its customers. ” Losses can range from symbolic francs to billions of CFA francs. They can also be worth the withdrawal of license “says Benjamin Ilboudo.
Issiaka Sourabié, in charge of operations for the labor rental company Faso intérim, does not regret his participation. This service provider who was often “embarrassed” by the slowness of transactions found answers to his questions. “ SGBF gives us the opportunity to understand the difficulties that our customers encounter in the processing of our invoices “, he confides.
Aminata SANOU
Burkina 24 correspondent in Bobo-Dioulasso
Harouna Gouba, Head of Banking Transactions at SGBF and f
speaker: ” It’s a reminder of the good rules in a new context because since 2022, there have been documentary changes that affect the way of working, in the requirements relating to the exchange regulations. In addition to these common standards, we also presented the system that SGBF has put in place in Burkina Faso to help them better carry out their operations..
