Regulatory Alerts2018-01-24
Regulation No 01/2018 of 24 January 2018 on Corporate Governance for Banks
The National Bank of Rwanda issued Regulation No 01/2018 to establish comprehensive corporate governance requirements for banks, mandating clear responsibilities for boards and senior management while reinforcing risk governance frameworks. The regulation defines key terms such as control, duty of care, and fit-and-proper criteria, and outlines structural requirements for board composition, committee establishment, and senior management approval. It further mandates robust risk culture, compliance functions, internal audit mechanisms, and accountability measures to ensure remedial actions and ethical conduct across banking institutions.
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