Region

Jurisdiction

Regulator

2022-07-06

Instruction No. 096/DGSIF/DSB of July 16, 2021 on Implementing Decision No. D/2021/014/CAM Fixing the Minimum Share Capital for 'Bank' Category Credit Institutions

The Central Bank of the Republic of Guinea issued Instruction No. 096/DGSIF/DSB on July 16, 2021, to implement Decision No. D/2021/014/CAM by mandating that all « Bank » category credit institutions increase their minimum share capital to 200 billion Guinean francs. These institutions must progressively release the required capital, reaching 140 billion by June 30, 2022, 170 billion by June 30, 2023, and the full 200 billion by June 30, 2024. The Instruction takes effect upon signing, supersedes conflicting prior provisions, and requires strict compliance from all affected credit institutions.

Guinea

Banque Centrale de la Republique de Guinee

[Logo BCRG]

Conakry, July 16, 2021

INSTRUCTION NO. 096/DGSIF/DSB OF JULY 16, 2021 ON THE IMPLEMENTATION MODALITIES OF DECISION NO. D/2021/014/CAM OF JULY 7, 2021 FIXING THE MINIMUM SHARE CAPITAL OF CREDIT INSTITUTIONS IN THE « BANK » CATEGORY

THE APPROVAL COMMITTEE,

Whereas, Law No. L/2017/017/AN of June 8, 2017, repealing Law No. L/2016/AN of November 9, 2016, itself amending Law No. L/2014/016/AN of July 2, 2014 establishing the Statute of the Central Bank of the Republic of Guinea;

Whereas, Law No. L/2013/060/CNT of August 12, 2013 on Banking Regulation, particularly Article 53;

Whereas, Decree No. D/2010/010/PRG/SGG of December 27, 2010 appointing the Governor of the Central Bank;

Whereas, the Minutes of the 55th Meeting of the Approval Committee for Credit Institutions in the « Bank » or « Financial Institution » category;

Whereas, Decision No. D/2021/014/CAM of July 7, 2021 fixing the minimum share capital amount for Credit Institutions in the « Bank » category;

DECIDES:

Article 1: This Instruction defines the implementation modalities of Decision No. D/2021/014/CAM of July 7, 2021 fixing the minimum share capital for Credit Institutions in the « Bank » category.

Article 2: Credit institutions already approved in the « Bank » category or pending approval as of the signing date of this Decision must increase their minimum share capital to two hundred billion Guinean francs (GNF 200,000,000,000).

Article 3: The release of this minimum share capital shall be carried out according to the following schedule:

to GNF 140 billion by June 30, 2022;
to GNF 170 billion by June 30, 2023;
to GNF 200 billion by June 30, 2024.

12, Boulevard du Commerce, 6th Avenue of the Republic C/Kaloum - P.O. Box 692 - Conakry - Republic of Guinea Tel: (+224) 664 67 77 77 - Fax: (+224) 669 08 88 88 - Email: secretariat.gouv@bcrg-guinee.org www.bcrg-guinee.org

Article 4: Credit institutions are required to strictly comply with the provisions of this Instruction.

Article 5: This Instruction, effective as of its signing date, repeals all prior contrary provisions, and shall be registered and published in the Official Journal of the Republic of Guinea.

[Stamp: Approval Committee - The President] [Signature]

**Dr. Louncény NABE