Regulatory Alerts2019-01-01
On the Corporate Governance of Credit Institutions
The Central Bank of Djibouti issued Instruction No. 2019-05 to establish mandatory corporate governance principles for credit institutions, detailing requirements for shareholder information, board composition, risk management, and ethical standards. The regulation mandates a minimum seven-member board with independent directors, formalized appointment and remuneration procedures, and the creation of specialized audit and risk management committees. It further requires comprehensive annual reporting, strict conflict-of-interest prevention, and continuous supervisory oversight by the central bank to ensure financial soundness and depositor protection.
Share