Regulatory Alerts2018-12-12
National Bank of Rwanda Regulation No. 2100/2018 on Administrative Sanctions and Fines Applicable to Banks
The National Bank of Rwanda issues Regulation No. 2100/2018 to establish a comprehensive framework for imposing administrative sanctions and fines on banks, directors, and senior managers for regulatory violations. The regulation empowers the Central Bank to apply corrective measures such as written warnings, operational prohibitions, license suspension or revocation, and monetary penalties based on the gravity of each infraction. It mandates the disclosure of violations by management, outlines a seven-day appeal process to the Governor with final decision-making authority, and repeals the prior Regulation No. 03/2011 while preserving other non-contradictory directives.
Share