Regulatory Alerts2026-04-17
Circular No. 10 to Savings and Credit Cooperatives (CEC)
The Banque de la République d'Haïti issued Circular No. 10 to mandate strict good governance practices for Savings and Credit Cooperatives (CECs), establishing clear definitions, roles, and obligations for executives, boards, and specialized committees. The circular requires CECs to implement robust risk management, anti-money laundering frameworks, independent supervisory and credit committees, and mandatory annual declarations of interests and related persons to prevent conflicts. It further stipulates strict eligibility criteria, training programs, and reporting mechanisms to ensure transparency, accountability, and the protection of members' interests across all cooperative operations.
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