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Mali is not exactly known for being a major Forex hub. As a matter of fact, the country is among the least developed countries in the world. The country’s economy centers on agriculture and mining. The government has not taken into consideration Forex trading nor does it plan to integrate it within its regulatory framework. At it stands today – online Forex trading remains a foreign concept for the legislation of the country.
The regulatory framework of the country is quite rudimentary and the West-African Central Bank, which has an office in Mali, is responsible for the oversight of the banking sector and all financial transactions. The banking sector in the country remains frightfully underdeveloped. As was stated above – it does not issue licenses to Forex brokerages.
The central bank supports a website which is in English. There are no legitimate brokerages, registered in Mali, however, many well-known regulated in Europe brokers target quite successfully traders from Mali without unwanted interference from the government.
French is the official language of the country which makes communicating with European brokers quite easy, they need only support a French language option. Brokerages have to provide withdrawals and deposits via the West African franc CFA. The standard Visa and MasterCard are the most popular payment methods.