Regulatory Alerts2023-07-21
Decision No. D/2022/0109/CAM of 19 October 2022 on the Limitation of Executive Terms in Financial Institutions
The Approvals Committee of the Central Bank of Guinea has issued Decision No. D/2022/0109/CAM to limit the terms of office for financial institution executives to a maximum renewable two-year period. The regulation mandates that institutions submit renewal applications no later than four months before term expiration, while ensuring compliance with all applicable legal and regulatory provisions. Furthermore, the decision preserves the Committee's discretionary authority to withdraw or restrict executive approvals at any time when necessary.
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