Regulatory Alerts2025-05-27
Instruction No. 18 on Approval Conditions for Credit Institutions, Their Management, and Statutory Amendments (Modification No. 3)
The Central Bank of the Congo issued Instruction No. 18 (Modification No. 3) to establish the approval conditions, required documentation, and procedural timelines for credit institutions, their management, shareholders, and control function heads. The regulation mandates prior regulatory approval for institutional creation, statutory amendments, capital changes, and key executive appointments, while enforcing strict governance standards, nationality quotas, gender parity targets, and anti-money laundering compliance. It further outlines the Central Bank's examination procedures, decision timelines, and grounds for refusal to ensure financial stability and transparent oversight of the banking sector.
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