Regulatory Alerts2022-01-01
Instruction No. 2022-12/IMF on Internal Control
The Central Bank of Djibouti issued Instruction No. 2022-12/IMF mandating that all microfinance institutions establish and maintain a size-appropriate internal control system covering risk mapping, accounting organization, and compliance monitoring. The directive requires institutions to draft and update a procedures manual, conduct annual board reviews of internal control effectiveness, and submit a detailed annual report to the statutory auditor and the Central Bank by April 30. The annex specifies mandatory reporting components, including organizational structures, risk assessments, transaction logs with directors and members, and evaluations of control outcomes and audit recommendations.
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