Regulatory Alerts2022-01-01
Instruction No. 2022-06/IMF on the Accounting Framework for Microfinance Institutions
The Central Bank of Djibouti issued Instruction No. 2022-06/IMF to establish the Djibouti Accounting Framework for Microfinance Institutions (RCIMF). This directive mandates that all microfinance institutions organize their accounting practices strictly in compliance with the newly adopted framework. The instruction takes immediate effect upon its signature on 14 March 2022.
BANQUE CENTRALE DE DJIBOUTI
INSTRUCTION NO. 2022-06/IMF ON THE ACCOUNTING FRAMEWORK FOR MICROFINANCE INSTITUTIONS
The Governor of the Central Bank of Djibouti,
Having regard to Law No. 118/AN/11/6th L of 22 January 2011 amending the statutes of the Central Bank of Djibouti;
Having regard to Law No. 179/AN/07/5th L of 16 May 2007 regulating microfinance activities on the territory of the Republic of Djibouti;
Having regard to Law No. 117/AN/11/6th L of 25 May 2011 regulating financial cooperatives;
Having regard to the Commercial Code, Book 3 on Company Law;
Having regard to Law No. 119/AN/11/6th L of 22 January 2011 on the establishment and supervision of credit institutions and financial auxiliaries;
Having regard to Decree No. 2018-171/PRE of 08 May 2018 appointing the Governor of the Central Bank of Djibouti.
Orders:
Article 1: The Djibouti Accounting Framework for Microfinance Institutions (RCIMF) is hereby established, attached to this Instruction and forming an integral part thereof.
Article 2: MFIs are required to organize their accounting in accordance with the provisions of the RCIMF.
Article 3: This Instruction shall enter into force upon its signature.
Done in Djibouti, on 14 March 2022
The Governor
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- INSTRUCTIONS RELATING TO MANAGEMENT STANDARDS
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