Regulatory Alerts2017-09-23
Law No 47/2017 of 23 September 2017 Governing the Organization of Banking
The Central Bank of Rwanda issued Law No 47/2017 to establish a comprehensive legal framework governing banking organization and operations. The legislation mandates licensing for all banking activities, sets strict capital adequacy and liquidity ratios, and regulates the acquisition or transfer of significant shareholdings. It further defines corporate governance structures, grants supervisory and inspection powers to the Central Bank, outlines penalties for non-compliance, and establishes recovery plans with special administrators alongside voluntary and forced liquidation procedures.
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