West Africa central bank to reopen branch in northern Mali

The Central Bank of the West African States (BCEAO) will reopen its branch in Mopti and Malian banks will resume operations in the previously rebel held northern towns of Gao, Timbuktu and Kidal, according to official sources. In the aftermath of the crisis in March 2012, the BCEAO branch in Mopti and local banks in Gao, Timbuktu and Kidal, were closed down, mostly due to looting and vandalism. At a cabinet meeting held on Wednesday, Malian officials decided on the reopening of the BCEAO branch and local banks in northern Mali. A cabinet statement said, "The government has promised to take necessary measures to reinforce security and restore water and electricity supply." The government commits to restore telephone lines within the shortest possible time to allow the reopened banks to operate, the statement pledged.