Regulatory Alerts2011-02-23
Law on the Regulation of Financial Cooperatives
The National Assembly of Djibouti enacted this law to establish comprehensive regulatory frameworks for the management, organization, and supervision of financial cooperatives operating within its territory. The legislation mandates Central Bank approval for all primary cooperatives, unions, and federations, while defining strict membership criteria, variable share capital structures, and mandatory governance bodies including a General Assembly and Board of Directors. By standardizing cooperative principles, prudential rules, and operational obligations, the statute ensures enhanced member protection, transparent accounting practices, and consistent supervisory oversight across Djibouti's financial cooperative sector.
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