SENEGAL Law and Practice Contributed by: Franck Olivier Allessie, SCP Houda & Associés
have at least five years of professional experi - ence in the banking sector, finance sector or any other field relevant to the functions envisaged (Article 24, Law of 2008). In order to obtain an individual exemption to the nationality requirement, the credit institution must send to the Minister of Finance a request for approval specifying: • the full identity and nationality of the person for whom the exemption is requested; • the relevant position; • the reason for using a non-WAEMU national to fill the position; and • for the profiles of management positions other than chief executive officer and deputy chief executive officer, a formal indication by the credit institution that the proposed employment contract does not raise any objections from the national employment authorities. The request sent to the National Directorate of the BCEAO must contain the following docu - ments: • an extract from the criminal record of the person concerned; • a declaration on honour; • official documents establishing the identity and nationality of the person concerned; • a detailed curriculum vitae indicating the training received and the acquisition of at least five years’ professional experience in the field of banking, finance or any other field of competence deemed compatible with the duties envisaged; • the precise addresses of previous employers; • copies of the required diplomas;
• the draft employment contract for executives, except for the chief executive officer and the deputy chief executive officer; and • a conflict of interest declaration. Persons involved in the direction, administra - tion, management, control or operation of credit institutions are bound by professional banking secrecy (Article 30). 4.3 Remuneration Requirements The Individuals Subject to the Remuneration Requirements Under Senegalese law, employees of banks are bound by the provisions of the Senegalese Labour Code and the provisions of the Interpro - fessional National Collective Agreement, as well as by the specific provisions of the Collective Agreement on Banks and Financial Institutions in Senegal. In fact, under Senegalese labour law, employ - ees are classified into different categories, which correspond to different remuneration scales. The Collective Agreement on Banks and Financial Institutions provides for specific classifications of bank employees according to the job they hold. As such, bank employees are classified into: • workers and employees, further classified into seven different subcategories; • agents, classified into four subcategories; and • executives, classified into four subcategories. Relevant Remuneration Principles Depending on the category into which the bank or financial institution employee is classified, a specific remuneration is provided for by the Ministry of Labour, which sets up the categori - cal salary scales in the private sector. The basic salaries provided for by the Ministry for the dif -
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