Regulatory Alerts2019-03-19
National Bank of Rwanda Regulation No. 2310/2019 on Shareholding, Acquisition and Amalgamation of Banks
The National Bank of Rwanda issues Regulation No. 2310/2019 to establish comprehensive requirements for the shareholding, acquisition, and amalgamation of banks. The regulation caps direct or indirect shareholdings at twenty-five percent for natural persons and corporate bodies, establishes supervisory thresholds equivalent to significant or controlling interests, and mandates written applications demonstrating financial strength, fit-and-proper status, and lawful funding sources. The Central Bank retains authority to approve or reject transactions based on management quality, financial soundness, depositor interests, and effective supervision, while outlining detailed pre-approval assessments, post-merger obligations, and applicable penalties.