Regulatory Alerts2024-10-01
Circular No. 02/M/18 on the Institutional Transformation of a Microfinance Institution or Community Financial Group, Issued Pursuant to Regulation No. 001/2018 on Microfinance Activities
The Bank of the Republic of Burundi issues Circular No. 02/M/18 to define the procedure and required documentation for transforming microfinance institutions or Community Financial Groups. The regulation categorizes these entities into four distinct types based on legal structure, deposit collection authority, and operational scope. It mandates that such transformations involve a change in legal form or category, requiring Central Bank registration rather than formal approval for village savings associations.
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