Regulatory Alerts2023-03-27
Regulation No 60/2023 Determining Prudential Norms for Deposit-Taking Microfinance Institutions
The National Bank of Rwanda issues Regulation No 60/2023 to establish comprehensive prudential norms for deposit-taking microfinance institutions, mandating strict compliance with defined liquidity and capital adequacy ratios. The regulation specifies precise thresholds for core capital, single borrower limits, related-party transactions, and foreign exchange positions while empowering the Central Bank to enforce prompt corrective actions against undercapitalized entities. It further standardizes financial reporting, asset provisioning, and maturity matching requirements, with full implementation governed by a defined transition period and explicit repeal of prior microfinance organizational directives.
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