Regulatory Alerts2024-09-18
Law No. 48 of 23 September 2017 Governing the National Bank of Rwanda
Enacted by the Rwandan Parliament and sanctioned by President Paul Kagame, this law establishes the National Bank of Rwanda (NBR) as an autonomous specialized organ with legal personality and administrative and financial independence. It defines the NBR’s core missions, including formulating monetary policy, issuing legal tender, managing foreign exchange reserves, ensuring financial stability, and regulating commercial banks. The legislation further outlines the bank’s internal governance structure, detailing the composition and powers of its Board of Directors, Governor, Deputy Governor, and specialized committees while repealing prior central banking statutes.
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