Regulatory Alerts2025-03-01
Instruction N°021 /DGSIF/DSB/14 of 13/05/2014 Regarding the Reference Shareholder
The Central Bank of the Republic of Guinea (BCRG) issued Instruction N°021 /DGSIF/DSB/14, requiring credit institutions seeking "Bank" approval to designate a "Reference Shareholder" that is itself a recognized Bank. This Reference Shareholder must hold at least 20% of the institution's capital, be subject to banking supervision, and possess the capacity to provide expertise in governance and operations, as well as funds if needed. The instruction also mandates that such shareholders, including financial holdings acting as reference shareholders for subsidiaries, must annually submit certified accounts to the BCRG and formalize their commitment through an authentic instrument.
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