Regulatory Alerts2024-07-29
Instruction on the List of Documents for Approval Applications of Credit Institutions, Directors, and Statutory Auditors in the Bank, Financial Institution, or Specialized Financial Institution Categories
The Central Bank of the Republic of Guinea issued this instruction to establish the complete list of required documents for approval applications concerning credit institutions, their directors, and statutory auditors across the Bank, Financial Institution, and Specialized Financial Institution categories. The directive mandates that applications be submitted in nine copies at least three months prior to the effective date, detailing corporate governance, financial capacity, beneficial ownership, and internal controls. Furthermore, it specifies distinct documentary requirements for directors and statutory auditors, sets a six-year renewable mandate for auditors, and requires the Board of Directors to grant discharge to outgoing directors before appointing new ones.