Regulatory Alerts2017-08-24 | 29576Fit and Proper Requirements under Sections 33(1) and (2), Section 21(8)(B), and the Second Schedule of the Financial Institutions Act, 2008
The banking regulatory authority mandates fit and proper assessments for key personnel and institutions under the Financial Institutions Act, 2008. This directive operationalizes Sections 33(1) and (2), Section 21(8)(B), and the Second Schedule to define specific eligibility, conduct, and financial requirements. License holders must demonstrate continuous compliance with these criteria to maintain their operational authorization and governance standards.
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