Regulatory Alerts2025-03-01
Instruction No. 021/DGSIF/DSB/14 of May 13, 2014 on Reference Shareholding
The Central Bank of the Republic of Guinea requires credit institutions seeking "Bank" category approval to maintain at least one Reference Shareholder, defined as an established Bank holding a minimum of 20 percent capital and subject to consolidated prudential supervision if part of a financial holding. This Reference Shareholder must possess governance expertise, commit to providing necessary funds, and submit certified annual accounts annually alongside a notarized commitment deed. Credit institutions are strictly bound to comply with these provisions, which take immediate effect upon signature and publication.
Conakry, May 13, 2014
REPUBLIC OF GUINEA CENTRAL BANK
INSTRUCTION NO. 021/DGSIF/DSB/14 OF MAY 13, 2014 ON REFERENCE SHAREHOLDING
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THE GOVERNOR,
- Having regard to Ordinance No. O/2009/046/CNDD of February 7, 2009 establishing the statutes of the Central Bank of the Republic of Guinea,
- Having regard to Law No. L/2013/060/CNT of August 12, 2013 on Banking Regulation in the Republic of Guinea,
- Having regard to Decree No. D/2010/010/PRG/SGG of December 27, 2010 appointing the Governor of the Central Bank of the Republic of Guinea,
DECIDES
Article 1: This Instruction sets out the implementation procedures for Article 54 of the Banking Law.
Article 2: Any credit institution seeking approval in the "Bank" category under Article 15 of the Banking Law must have at least one "Reference Shareholder" that is a Bank.
This Reference Shareholder must hold at least twenty percent (20%) of the institution's capital.
Article 3: For subsidiary Banks of a financial holding company, the Holding company must be subject to consolidated prudential supervision to qualify as a Reference Shareholder.
Article 4: The Reference Shareholder must be an established Bank, subject to a Banking Supervisory Authority, possessing the capacity to contribute its expertise in governance and banking operations, and willing to provide funds when necessary.
P.O. Box No. 692 - Conakry - Telephone: (224) 30 41 26 51. - Fax: (224) 30 41 48 98 Telex: 22 225 BAREG - GE
The Reference Shareholder must submit annually to the Central Bank of the Republic of Guinea certified statements of its annual accounts.
Article 5: The Reference Shareholder must submit to the BCRG a notarized deed specifying its commitment.
Article 6: Credit institutions are bound to strictly comply with the provisions of this Instruction.
Article 7: This Instruction takes effect from its date of signature and will be published as required.
[Seal and Signature]
Dr Louncény NABE