Feasibility Of Asset Securitization In Monetary Union Of West Africa

As one of the most important finance innovation of last century, asset securitization developed very fast after it had come out from U. S. A in 1970s. Commercial Bank's credit asset securitization was one of the most important finance innovations in the domain of west commercial banks. International experience has shown that credit asset securitization not only can give great impetus to the development of commercial bank, but also can improve the development of capital markets and the economy.At present, asset securitization overseas has developed comparative maturity. But in Africa, it has been fetched in only about few years. West African countries are about to start securitization experience. On the condition of that the traditional financing methods of Africa's country can no longer help them to achieve the common economic development goal, it's is important for them to adapt to the tend of international financial market. They should therefore learn from the developed countries and apply the finance innovation tool of asset securitization. This can amend and drive the improvement of whole financial market and their whole economy.Based on an introduction of asset securitization's elements, common process and study actuality in Africa and overseas, this paper mainly analyses the development of some countries securitization market, their Special Purpose Vehicles particularities and differencies, and their legal issues. In succession, based on these key aspects, the paper gives some corresponding proposals for asset securitization practice in West African countries.All four parts of this paper are interrelated. This paper discusses from easy to difficult and makes a generalized-to-specific analysis. It absorbs the experts' productions. At the same time, the paper, emphasizes on why asset securitization in important in West African countries financing policy and give some advices on how to settle asset securitization in West African countries.