(Amendment) Capital Adequacy for Banks Directive, 2024

GOVERNMENT NOTICE NO. 29
FINANCIAL SERVICES ACT
(CAP. 44:05)
FINANCIAL SERVICES (CAPITAL ADEQUACY FOR BANKS) (AMENDMENT) DIRECTIVE, 2024 IN EXERCISE of the powers conferred by section 34(2)(c) of the Financial Services Act, I, DR. WILSON TONINGA BANDA, Registrar of Financial Institutions, issue the following Directive__

1. This Directive may be cited as Financial Services (Capital Adequacy
   for Banks) (Amendment) Directive, 2024.
2. The Financial Services (Capital Adequacy for Banks) Directive is
   amended in paragraph 5 by deleting__ (a) subparagraph (1) and substituting therefor a new subparagraph as follows__ “(1) A bank shall maintain a minimum core capital of (K10,000,000,000).”. (b) in subparagraph (3), the words “subparagraphs (1) and” and substituting therefor the word “subparagraph”; and (c) in subparagraph (4), the words “subparagraphs (1) and” and substituting therefor the word “subparagraph”. Issued this 1st day of May, 2024. DR. W. T. BANDA (REF. NO. FIN/PFSPD/02/12) Registrar of Financial Institutions 127 The Malawi Gazette Supplement, dated 24th May, 2024, containing Regulations, Rules, etc. (No. 15A) Citation Amendment of para. 5 to Cap. 44:05, Sub. leg. GN. 19/2018