Regulatory Alerts2023-03-27
Regulation No. 61/2023 Establishing Risk Management Framework for Deposit-Taking Microfinance Institutions
The National Bank of Rwanda issued Regulation No. 61/2023 to establish a comprehensive risk management framework for deposit-taking microfinance institutions. The regulation mandates the implementation of structured frameworks addressing strategic, credit, operational, liquidity, market, and compliance risks, while assigning explicit oversight duties to boards of directors and senior management. It further standardizes internal controls, loan processing procedures, liquidity contingency planning, and compliance functions to ensure institutional stability and regulatory adherence.
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