Regulatory Alerts2018-12-27
National Bank of Rwanda Regulation No. 2310/2018 on Banking Licensing Conditions
The National Bank of Rwanda promulgated Regulation No. 2310/2018 to standardize licensing conditions and procedures for commercial, development, cooperative, and mortgage banks. The regulation mandates category-specific minimum paid-up capital ranging from FRW 10 billion to 50 billion, requires transparent ownership structures with fit-and-proper shareholders and senior managers, and enforces strict source-of-funds declarations. It establishes a comprehensive application framework detailing supervisory fees, capital adequacy ratios, and specific provisions for foreign bank representative offices.
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