Regulatory Alerts2018-01-01
Financial Institutions (Credit Only and Deposit Taking Micro-Finance Institutions) (Amendment) Regulations, 2018
The Commissioner of Financial Institutions in Lesotho has issued the 2018 Amendment Regulations to update the licensing and operational framework for credit-only and deposit-taking micro-finance institutions. The amendments establish tiered capital and liquidity thresholds, mandate structured boards with independent audit and credit committees, and enforce stricter consumer protection standards including ethical treatment and a 30-day complaint resolution period. Existing institutions must transition to the new tiered licensing system within six months and comply with comprehensive annual reporting requirements covering financial performance, capital adequacy, liquidity ratios, and deposit holder classifications.
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