Regulatory Alerts2019-06-26
Regulation (NAP) - Licensing and Exercise of Microfinance Activities
The Central Bank of São Tomé and Príncipe issued this Permanent Application Regulation to establish the licensing, registration, and operational requirements for microfinance institutions. The regulation classifies these entities into Category A (microbanks, microinsurance, and finance societies) and Category B (savings/credit associations and cooperatives), mandating prior authorization, specific capital thresholds, and distinct governance structures for each. It further outlines standardized application procedures, prudential and conduct supervision frameworks, corporate governance rules, and conditions for authorization validity, revocation, and cessation of activities.
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