Regulatory Alerts2023-07-27
Administrative Instruction No. 006 Regulating the Activity of Financial Messaging Services (Modification No. 2)
The Central Bank of the Congo issued Administrative Instruction No. 006 to regulate the licensing, capital requirements, and operational conduct of financial messaging services (money transfer operators) in the Democratic Republic of the Congo. The directive mandates a minimum paid-up capital of USD 75,000 for national operators and USD 150,000 to USD 200,000 for international ones, while requiring prior regulatory approval for incorporation, branch expansion, agent networks, and partnership agreements. It further establishes strict compliance obligations regarding anti-money laundering frameworks, daily transaction limits capped at USD 10,000 per individual, and continuous supervisory reporting to ensure financial system integrity.
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