The Central Bank of the West African States (Banque Centrale des États de l'Afrique de l'Ouest-BCEAO) is the bank of issue for Niger and other West African states. Niger has a monetary committee that reports to the BCEAO and works under BCEAO general rules but possesses autonomy in internal credit matters.
Two development banks remained following the collapse of the Banque de développement de la républica du Niger (BDRN) in 1990: Crédit du Niger (CN), and the Caisse nationale du crédit agricole (CNCA). Three commercial banks collapsed in Niger between 1988 and early 1992: the Banque internationale pour le commerce et l'industrie-Niger (BICI-N); the Banque de crédit et de commerce (BCC), which the African Development Bank's Nigeria Trust Fund agreed to take over following the collapse of the parent bank; and the Bank of Credit and Commerce International (BCCI). Banque Meridien-BIAO du Niger was taken over in September 1995 in a combined purchased by Banque Belgolaise of Belgium, which took 35%, and Cofipa, a European investment group (15%), the remaining 50% of the equity being sold to private Nigerian interests. The bank changed its name to BIA-Niger. The Banque arabe libyenne et nigérienne pour le commerce extérieur (Balinex) was rescued in March 1992 by Libya.
Smaller commercial banks operating in 2001 included the Bank of Africa; Ecobank; Banque Islamique du Niger; Sonibank (Societe Nigerienne de Banque); BCN (Banque Commerciale du Niger); and Credit du Niger.
The International Monetary Fund reports that in 2001, currency and demand deposits—an aggregate commonly known as M1—were equal to $141.9 million. In that same year, M2—an aggregate equal to M1 plus savings deposits, small time deposits, and money market mutual funds—was $186.5 million. The money market rate, the rate at which financial institutions lend to one another in the short term, was 4.95%. The discount rate, the interest rate at which the central bank lends to financial institutions in the short term, was 6.5%.