Regulatory Alerts2024-09-01
Circular No. 15/2018 on the Approval of Managers and Directors of Credit Institutions Issued Pursuant to Law No. 1/17 of August 22, 2017 Governing Banking Activities
The Banque de la République du Burundi issued Circular No. 15/2018 to specify the procedure, required documents, and eligibility conditions for approving managers and directors of credit institutions. The regulation defines a director as an approved board member and a manager as an executive responsible for daily operations, operating under Law No. 1/17 of August 2017. Credit institutions must obtain prior Central Bank approval for all appointed executives to ensure compliance with statutory fitness and governance requirements.
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