Regulatory Alerts2022-01-01
Obligation for MFIs to Produce and Transmit Financial Statements to the Central Bank of Djibouti
The Central Bank of Djibouti issued Instruction No. 2022-05/IMF to mandate all microfinance institutions (MFIs) to prepare and submit standardized annual financial statements by 30 June each year. The directive specifies required reporting components, including balance sheets, income statements, and supplementary notes, while requiring separate accounting for microfinance activities and consolidated reporting for networked institutions. Non-compliance triggers daily late fees of 5,000 Djiboutian Francs, and all statements must be signed by authorized representatives and audited by statutory accountants for cooperatives and corporate entities.
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