Decision No. D/2021/014/CAM of July 7, 2021 Fixing the Minimum Share Capital for Banking Category Credit Institutions

Conakry, July 7, 2021

REPUBLIC OF GUINEA

COMMITTEE OF APPROVALS

DECISION NO. D/2021/014/CAM OF JULY 7, 2021 FIXING THE MINIMUM SHARE CAPITAL AMOUNT FOR CREDIT INSTITUTIONS OF THE « BANK » CATEGORY ----------

THE COMMITTEE OF APPROVALS,

Having regard to Law L/2017/017/AN of June 8, 2017, repealing Law L/2016/AN of November 9, 2016, itself amending Law L/2014/016/AN of July 2, 2014 establishing the Statute of the Central Bank of the Republic of Guinea;

Having regard to Law L/2013/060/CNT of August 12, 2013 on Banking Regulation, particularly Article 53;

Having regard to Decree D/2010/010/PRG/SGG of December 27, 2010 on the appointment of the Governor of the Central Bank;

Having regard to Decision D/2013/050/CAM of March 19, 2013 fixing the minimum share capital amount for Credit Institutions of the « Bank » category;

Having regard to the summary note dated June 28, 2021 regarding the increase of the minimum share capital for Credit Institutions of the « Bank » category;

Having regard to the Minutes of the 55th Meeting of the Committee of Approvals for Credit Institutions of the « Bank » or « Financial Institution » category;

DECIDES

Article 1: Effective August 2, 2021, the minimum share capital amount for Credit Institutions of the « Bank » category is set at two hundred billion Guinean francs (GNF 200,000,000,000).

Article 2: The share capital must be expressed in Guinean Francs and employed at all times within the Republic of Guinea.

Article 3: An Instruction by the Governor of the Central Bank will establish the implementation procedures for this Decision.

Article 4: This Decision repeals all prior contrary decisions, particularly Decision No. D/2013/050/CAM of March 19, 2013, and shall be registered and published in the Official Journal of the Republic of Guinea.

[Stamp: Republic of Guinea - The President - Committee of Approvals] [Signature]

Dr Louncény NABE
President of the Committee of Approvals

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