Regulatory Alerts2011-07-25
Regulation No. 13/2011 on Discount House Activities
The National Bank of Rwanda issued Regulation No. 13/2011 to establish comprehensive licensing, operational, and prudential requirements for discount houses. The regulation defines permissible and prohibited activities, mandates minimum paid-up capital and specific ownership structures, and outlines strict rules for collateral management, risk assessment, funding sources, and financial reporting. It further institutes a uniform monitoring mechanism, authorizes on-site inspections, and prescribes pecuniary and administrative sanctions to ensure compliance and safeguard client interests in treasury bill and securities markets.
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