Regulatory Alerts2024-09-01
Law No. 1/17 of August 22, 2017 Regulating Banking Activities
The President of the Republic of Burundi promulgated Law No. 1/17 to comprehensively regulate banking activities, defining the scope, authorized operations, and strict prohibitions for financial institutions. The law mandates that all credit and payment establishments obtain prior authorization from the Bank of the Republic of Burundi and adhere to rigorous governance, capital, and operational standards. It explicitly excludes non-banking entities from performing banking operations while establishing specific frameworks for microfinance, payment services, and the supervision of related financial activities.
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