MALI

CURRENCY:

CFA Franc - XOF (CFA = Communauté Financière Africaine)

DENOMINATIONS:

NOTE: XOF10,000, 5,000, 2,000, 1,000 and 500.

COIN: XOF500, 100, 50, 25, 10, 5 and 1.

Mali is part of the French Monetary Area. The CFA is tied to the Euro. Note also there are two main differences regarding currency: the Bank of West African States (Banque des Etats de l’Afrique de l’Ouest ) is the only bank to use for valid currency. Do not go to the Bank of Central African States (Banque des Etats de l’Afrique Centrale) for currency as it is NOT VALID.

US DOLLAR ACCEPTED?

Yes, widely.

CREDIT/DEBIT CARDS AND ATMS:

Currency exchange services are available in Bamako - note only Euros and US dollars can be exchanged.

CURRENCY EXCHANGE:

Note: Mali's economy is CASH so credit cards are not useful here. They may be accepted in some of the larger banks - Visa is the most accepted card.

TRAVELLER'S CHEQUES:

These are best in US dollars or Euros and can be exchanged in Bamako.

BANKING HOURS:

Mon-Fri 0800-1630, Some banks open Saturday mornings.

CURRENCY RESTRICTIONS:

N/A

COUNTRY OVERVIEW:

Mali is officially called the Republic of Mali and is located in Western Africa. There are eight regions in Mali and part of the country is well within the Sahara desert. The capital is Bamako and the official language is French.

POPULATION:

Around 12 million.

ECONOMY:

The main elements of Mali's economy are fishing and agriculture. The main export is cotton. The country has some natural resources including salt and gold. Mali is one of the world's poorest countries. An average worker will earn less than $2,000 a year.