Classification of Credits According to Their Duration

CENTRAL BANK OF DJIBOUTI

INSTRUCTION NO. 2022-07/IMF
ON THE CLASSIFICATION OF CREDITS ACCORDING TO THEIR DURATION

The Governor of the Central Bank of Djibouti,

Having regard to Law No. 118/AN/11/6th L of January 22, 2011, amending the statutes of the Central Bank of Djibouti;

Having regard to Law No. 179/AN/07/5th L of May 16, 2007, regulating microfinance activities within the territory of the Republic of Djibouti;

Having regard to Law No. 117/AN/11/6th L of May 25, 2011, regulating financial cooperatives;

Having regard to the Commercial Code, Book 3 on Company Law;

Having regard to Law No. 119/AN/11/6th L of January 22, 2011, on the establishment and supervision of credit institutions and financial auxiliaries;

Having regard to Decree No. 2018-171/PRE of May 8, 2018, appointing the Governor of the Central Bank of Djibouti.

Orders:

Article 1: Sound credits are classified according to their initial repayment term into short-term, medium-term, and long-term credits.

Article 2: Short-term credits are considered to be loans to members whose initial repayment term, including any applicable grace period, does not exceed twelve months.

Article 3: Medium-term credits are considered to be loans to members whose initial repayment term, including any applicable grace period, exceeds twelve months but is less than or equal to 36 months.

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Article 4: Long-term credits are considered to be loans to members whose initial repayment term, including any applicable grace period, exceeds 36 months.

Done in Djibouti, on March 14, 2022

The Governor

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