Regulatory Alerts2018-01-01
Instruction No. 2018-01 on the Central Bank of Djibouti Risk Registry
The Central Bank of Djibouti issued Instruction No. 2018-01 to establish the legal framework, operational procedures, and oversight mechanisms for its Risk Registry, mandating all supervised credit institutions and financial entities to report detailed borrower identification, credit account, and collateral data on a monthly basis. The regulation requires participating institutions to obtain a credit report from the Registry before granting, renewing, or refinancing any loan, while strictly enforcing data security protocols, professional secrecy, and a five-year retention period followed by mandatory archival and destruction of credit information. It further guarantees borrowers the rights to prior written consent, annual free access to their data, rectification of inaccuracies within fifteen days, and a formal complaint resolution process, with non-compliance subject to sanctions under the governing credit information law.