Introduction to MALI. BNP Paribas presence. Working with BNP Paribas. Currency. Summary. Currency. Bank accounts

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3 Introduction to MALI Mali is a poor, predominantly desert country with a high dependency on gold and cotton exports. The agricultural sector accounts for 40% of GDP, and the economy is therefore highly vulnerable to shocks. After two very difficult years linked to political instability, signs of economic recovery began to emerge in Real GDP reached 6% in 2015 and the outlook is generally favourable, supported by strong financial support of international donors and structural reforms. However, fragile security conditions remain an important potential risk for both growth and public finances. Mali is a member of West African and Monetary Union (WAEMU), which provides a solid buffer against balance of payment shocks as the French treasury guarantees the full convertibility of the CFA Franc against the euro at a fixed rate. This also helps to anchor macro stability, with inflation rarely exceeding 3%. Speculations has increased about a possible devaluation of the CFA Franc; however, the risk remains limited in the short term as the region s macroeconomic fundamentals are still good. Summary BNP Paribas presence Created in 1999, BICIM (of which BNP Paribas is an 85% shareholder) is a reference bank in Mali, with an expanding network. BNP Paribas is the second largest international bank in terms of country coverage in Sub-Saharan Africa, with more than than 140 branches in 7 countries (Burkina Faso, Ivory Coast, Gabon, Guinea, Mali, Senegal and South Africa). This network includes 415,000 clients who are supported by more than 2,300 employees. In addition, dedicated cash management and trade finance teams in each country support the domestic and international needs of foreign subsidiaries in each country, regionally and internationally. Working with BNP Paribas BNP Paribas offers comprehensive domestic and international cash management capabilities in Mali, with direct access to STAR (high value) and SICA (low value) clearing. The bank is engaged in continuous innovation to develop and refine tools and structures to meet international requirements. BNP Paribas also provides specialist trade finance solutions and services through 10 trade centres across Africa, with the support of product and technical experts located in the bank's global trade solutions competence centre, to optimise, secure and finance customers' international trade transactions worldwide. BNP Paribas' trade centres offer the full range of traditional trade finance products (documentary operations, international guarantees and trade financing) as well as structured trade and customised supply chain management solutions. These are facilitated through state-of-the-art web-based platforms. Currency Currency West African Franc (XOF). Bank accounts

4 Resident / non-resident status A company is considered resident in Mali if it is incorporated in Mali. Bank accounts for resident entities Within Mali Outside Mali Local Currency Permitted without restriction, not convertible Not permitted Foreign Currency Permitted with restrictions, fully convertible Permitted without restrictions Bank accounts for non-resident entities Within Mali Outside Mali Local Currency Permitted without restrictions, convertible Not permitted Foreign Currency Permitted with restrictions, fully convertible Not applicable Payments & Collections Credit transfers Credit transfers are used by companies and the government for high-value commercial payments. Credit transfers are available as both paper-based and electronic payment instruments. High-value and urgent XOF-denominated credit transfers are cleared and settled via STAR-UEMOA. Low-value and non-urgent XOF-denominated credit transfers are processed by SICA-UEMOA. Direct debits Interbank direct debit services are not available in Mali at present. Intra-bank direct debits are available for low-value transfers. Liquidity management Domestic: notional pooling Domestic notional cash pools are not available.

5 Domestic: cash concentration Domestic cash concentration structures are available. Cross-border notional pooling Cross- border notional cash pools are not available. Cross-border cash concentration Cross- border cash concentration structures are not available. International trade General trade rules As a member of the West African Economic and Monetary Union (UEMOA), Mali shares the CFA franc (XOF) as a common currency with all UEMOA member states. As a member of the Economic Community of West African States (ECOWAS), Mali has entered into a customs union with ECOWAS member states. ECOWAS comprises Benin, Burkina Faso, Cabo Verde, Côte D Ivoire, the Gambia, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo. Imports / exports Imports Petroleum Machinery and equipment Construction materials Foodstuffs China (7.0%) Primary Import sources Côte D Ivoire (10%) France (9.6%) Senegal (7.7%) Exports Cotton Gold Livestock Export markets Switzerland (45.5%) India (14.4%) China (8.8%) Import / export volumes Bangladesh (7.5%) Textiles Thailand (4.3%) Indonesia (4.1%)

6 Exports Imports ,001 2,873 2,100 - services USD m NA - goods USD m 2,890 3,122 3,977 - services USD m 1,064 2,157 NA goods USD m Current account as % GDP ,857 2, ,785 3,509 1, Sources: World Trade Organisation and IMF, International Financial Statistics and World DataBank, August Market data updated as of

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