Regulatory Alerts2023-12-28
Decision No. 127 on the RMA Key Exchange Procedure
The Central Bank of the Republic of Guinea issued Decision No. 127 to establish a standardized procedure for managing Relationship Management Application (RMA) key exchanges between the central bank and domestic or foreign financial institutions. The directive mandates that the Foreign Exchange Operations Department, Compliance Unit, and Payment Systems Department coordinate to conduct compliance due diligence, validate technical participation in the RTGS system, and execute SWIFT-based RMA key exchanges through formalized memoranda and committee approvals. Furthermore, it establishes an annual review mechanism for key revocations and requires comprehensive archival of all relationship documentation to ensure operational continuity and regulatory oversight.