Regulatory Alerts2021-09-13
Decision No. D/2021/014/CAM of July 7, 2021 Fixing the Minimum Share Capital for Banking Category Credit Institutions
The Committee of Approvals of the Republic of Guinea issued Decision No. D/2021/014/CAM on July 7, 2021, raising the minimum share capital for banking-category credit institutions to two hundred billion Guinean francs (GNF 200,000,000,000), effective August 2, 2021. The mandate requires that this capital be denominated in Guinean Francs and continuously utilized within Guinea, while delegating implementation details to a Central Bank Governor Instruction. This Decision supersedes prior contradictory rulings, specifically the March 2013 capital fixation decision, and mandates official registration and publication in the Republic's Official Journal.
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
P.O. Box No. 692 – Conakry – Telephone: (+224) 664 67 77 77 Fax: (+224) 669 08 88 88 – E-mail: secretariat.gouv@bcrg-guinee.org www.bcrg-guinee.org / 6 Commerce Boulevard C/Kaloum