Moroccan-Senegalese bank set up

A Moroccan-Senegalese bank "Senbank" has been set up under an accord concluded on Wednesday between the Moroccan Wafabank and the Senegalese holding "Keur Khadim," reported Moroccan weekly La Vie Economique.

Senbank --to be based in Dakar-- may become operational within an 18-month deadline and will in a first phase cover the eight countries of the economic and monetary union of West African states (ECOWAS).

ECOWAS, set up in 1994, seeks to create a regional common market based on the free movement of people, goods, services and capital. It Musters Benin, Burkina Faso, Cote d'Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo.