Regulatory Alerts2024-09-01
Added · Updated
Circular No. 003 on the Approval of Administrators and Senior Management of Payment Institutions
The Banque de la République du Burundi issued Circular No. 003/SP/2024 to establish the eligibility criteria, required documentation, and approval procedures for administrators and senior managers of payment institutions. The regulation mandates strict integrity checks, professional experience requirements, and prohibits the simultaneous holding of conflicting roles within competing entities. Payment institutions must submit complete dossiers for Central Bank approval and report any changes in personnel status or shareholdings within specified timeframes.
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