Regulatory Alerts2015-06-05
Law No 31/2015 on the Organization and Functioning of the Deposit Guarantee Fund for Banks and Microfinance Institutions
The Parliament of Rwanda enacted Law No 31/2015 to establish the Deposit Guarantee Fund, which is managed by the National Bank of Rwanda to protect depositors in banks and microfinance institutions. Financed through mandatory premiums, investment returns, and late-payment penalties, the Fund operates under coverage limits set by the National Bank while excluding institutional, government, and major shareholder deposits. Upon a contributing institution's liquidation, insured deposits are compensated within sixty working days via transfers or designated methods, supported by mandatory reporting and audit obligations.
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