Regulatory Alerts2024-04-12
Regulation 65/2023 Governing Non-Deposit Taking Financial Services Providers
The National Bank of Rwanda issued Regulation 65/2023 to establish comprehensive licensing, corporate governance, and supervision frameworks for non-deposit taking financial service providers. The regulation classifies entities into distinct operational categories, mandates minimum capital and annual fees, and enforces strict credit risk provisioning aligned with IFRS 9 standards. It further details board approval procedures, cross-border supervisory powers, mandatory financial reporting, and administrative sanctions for license revocation or non-compliance.
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