Regulatory Alerts2019-09-09
Regulation No 28/2019 on the Publication of Financial Statements and Disclosures by Banks
The National Bank of Rwanda issued Regulation No 28/2019 to mandate banks publish quarterly and annual audited financial statements alongside comprehensive qualitative and quantitative disclosures. The rule assigns disclosure policy and compliance oversight to the Board of Directors while requiring senior management to implement internal review systems, with all publications submitted to the Central Bank at least three working days in advance via official websites and widely circulated newspapers. It standardizes reporting frameworks under International Financial Reporting Standards, details risk exposure metrics including credit, market, and liquidity risks, and establishes transitional timelines for integrated reporting to enhance transparency and public confidence in the banking sector.