Regulatory Alerts2024-05-30
Law No. 044/2024 Governing Banks
The Central Bank of Rwanda, through Law No. 044/2024, mandates a unified licensing and prudential framework that requires banks to maintain minimum capital, adhere to strict shareholding thresholds, and implement comprehensive risk management and governance structures. The legislation grants the Central Bank supervisory authority to conduct on-site inspections, enforce recovery and resolution plans, and impose penalties for regulatory breaches. It further codifies standardized procedures for bank amalgamation, voluntary and forced liquidation, and creditor reimbursement to safeguard financial stability.
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