Regulatory Alerts2017-11-08
Ordinary Law on Inclusive Financial Institutions in the Republic of Guinea
The National Assembly and the Central Bank of the Republic of Guinea enacted this Ordinary Law to establish a comprehensive regulatory and supervisory framework for Inclusive Financial Institutions, including Microfinance Institutions, Electronic Money Institutions, and Postal Financial Services. The legislation mandates licensing procedures, prudential requirements, internal controls, market conduct standards, and consumer protection measures while creating a dedicated Approval Committee and professional associations to oversee sector compliance and development. It further outlines transitional compliance periods, disciplinary sanctions, resolution mechanisms, and final provisions to ensure financial stability, anti-money laundering alignment, and formalization of the inclusive finance sector.