Regulatory Alerts2024-04-12
Regulation No. 001/2024 of 12 April 2024 on Entities Operating in Burundi Providing Financing and/or Guarantee Services
The Banque de la République du Burundi issued Regulation No. 001/2024 to establish the licensing, operational framework, and supervisory requirements for entities providing financing and guarantee services to regulated credit institutions and microfinance organizations in Burundi. The regulation mandates prior central bank approval for market entry, outlines strict eligibility criteria for directors and managers, and prohibits unauthorized entities from operating while restricting concurrent management roles. It further imposes ongoing compliance obligations, including minimum capital requirements, mandatory financial reporting, prudential accounting standards, and centralized oversight through on-site and document-based audits.
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