Regulatory Alerts2019-06-05
Regulation No. 4230/2019 of the National Bank of Rwanda on Opening and Closing a Place of Business of a Bank
The National Bank of Rwanda promulgated Regulation No. 4230/2019 to standardize the approval process for establishing, merging, or closing bank branches and outlets. The regulation categorizes these locations into branches, sub-branches or guichets, and other premises based on specific service offerings like deposit collection and loan processing. Financial institutions must submit comprehensive applications detailing feasibility studies, capital reserves, and management frameworks to the Central Bank before commencing or terminating operations.
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