National Bank of Rwanda Regulation No. 2310/2018 on Banking Licensing Conditions

Official Gazette no. 01 of 07/01/2019 2 AMABWIRIZA RUSANGE N°2310/2018 - 00013[ 614 ] YO KUWA 27/12/2018 YA BANKI NKURU Y’ U RWANDA YEREKEYE IBISABWA MU KWEMERERA AMABANKI GUKORA REGULATION N° 2310/2018 - 00013[ 614 ] OF 27/12/2018 OF THE NATIONAL BANK OF RWANDA ON LICENSING CONDITIONS OF BANKS REGLEMENT N° 2310/2018 - 00013[ 614 ] DU 27/12/2018 DE LA BANQUE NATIONALE DU RWANDA PORTANT CONDITIONS D’AGREMENT DES BANQUES ISHAKIRO TABLE OF CONTENTS TABLE DES MATIERES UMUTWE WA MBERE : INGINGO RUSANGE CHAPTER ONE: GENERAL PROVISIONS CHAPITRE PREMIER: DISPOSITIONS GENERALES Ingingo ya Mbere: Impamvu y’aya mabwiriza rusange Article One: Purpose of this regulation Article Premier: Objet du présent règlement Ingingo ya 2: Ibisobanuro by’amagambo Article 2: Definitions Article 2 : Définitions UMUTWE WA II: IBISABWA MU KWEMERERWA CHAPTER II: LICENCING REQUIREMENTS CHAPITRE II: DES EXIGENCES D’AGREEMENT Ingingo ya 3: Ibyiciro by’amabanki hashingiwe ku mirimo yayo Article 3: Categories of banks and their respective activities Article 3: Catégories de banques et leurs activités respectives Ingingo ya 4: Imari shingiro isabwa Article 4: Required paid up capital Article 4 : Capital libéré requis Ingingo ya 5: Imiterere y’imari shingiro Article 5: Ownership structure Article 5: Structure de l'actionnariat Ingingo ya 6: Urwego rw’abayobozi bakuru muri banki Article 6: Status of the bank’ senior managers Article 6: Statut de cadres dirigeants de la banque Ingingo ya 7: Impamyabushobozi n’uburambe bw’abakozi bakuru Article 7: Qualification and experience of Senior Managers Article 7: Qualification et expérience des cadres dirigeants

Official Gazette no. 01 of 07/01/2019 3 Ingingo ya 8: Ibyihariye Banki Nkuru yibandaho mu kwemerera banki gutangira imirimo Article 8: Specific considerations by the Central Bank in licensing Article 8: Considérations spécifiques de la Banque Centrale en matière d’agrements Ingingo ya 9: Kutabangamira igenzura Article 9: No hindrance to supervision Article 9: Non entrave à la supervision UMUTWE WA III: UBURYO BUKORESHWA MU KWEMERERA GUKORA Ingingo ya 10: Gusaba kwemererwa gukora CHAPTER III: LICENSING PROCEDURES Article 10: Application for a license CHAPITRE III: PROCEDURES D’AGREMENT Article 10: Demande d’agrément Ingingo ya 11: Amakuru n’inyandiko za ngombwa Article 11: Information and supporting documents Article 11: Information et documents d’appui Ingingo ya 12: Ibisabwa byihariye kuri banki yabyawe na banki y’inyamahanga yemererwe gukora Article 12: Specific required information for a subsidiary of the foreign bank Article 12: Informations spécifiques requises pour une filiale de la banque étrangère Ingingo ya 13: Urwandiko rumenyekanisha Article 13: Letter of information Article 13: Lettre d’information Ingingo ya 14: Isesengura ry’ubusabe Article 14: Analysis of the application Article 14: Analyse de la demande Ingingo ya 15: Igihe cyo gusubiza uwasabye n’icyemezo cya Banki Nkuru Article 15: Period to respond to the applicant and the Central Bank decision Article 15 : Délai pour répondre au requérant et la décision de la Banque Centrale Ingingo ya 16: Kumenyeshwa icyemezo Article 16: Notification of the decision Article 16: Communication de la décision Ingingo ya 17 : Ibindi bisabwa Article 17: Additional requirements Article 17: Conditions supplémentaires Ingingo ya 18: Igenzura ry’aho banki izakorera Article 18: Onsite visit of banking premises Article 18: Visite sur les lieux abritant l’activité

Official Gazette no. 01 of 07/01/2019 4 UMUTWE WA IV: URUHUSHYA N’IKIGUZI CYARWO N’IBINDI BISABWA CHAPTER IV: LICENCE, FEES AND OTHER REQUIREMENTS CHAPITRE IV: AGREMENT, FRAIS ET D’AUTRES CONDITIONS Ingingo ya 19: Ikiguzi cy’uruhushya rwo kwemererwa gukora n’icy’ibikorwa by’igenzura Article 19: License and supervision fee Article 19 : Frais de licence et de supervision Ingingo ya 20: Igihe n’ishyirwa ahagaragara ry’uruhushya rwo gukora Article 20: Duration and display of license Article 20 : Délai et affichage de la license UMUTWE WA V: IBIRO BIHAGARARIYE BANKI Y’INYAMAHANGA CHAPTER V: REPRESENTATIVE OFFICE OF A FOREING BANK CHAPITRE V : DU BUREAU DE REPRESENTATION D’UNE BANQUE ETRANGERE Ingingo ya 21: Ishingwa ry’ibiro bihagariye banki Article 21: Establishment of representative office Article 21: Etablissement d'un bureau de représentation Ingingo ya 22: Uburenganzira n’inshingano by’ibiro bihagariye banki Article 22: Rights and obligation of the representative office Article 22: Droits et obligations du bureau de représentation Ingingo ya 23: Amategeko agenga ibiro bihagariye banki y’inyamahanga Article 23: Law governing a representative office Article 23: Loi régissant le bureau de représentation Ingingo ya 24: Ubunyanga mugayo n’ubushobozi bw’umuyobozi w’ibiro bihagarariye banki Article 24: Fit and proper requirements of the country representative Article 24: Exigences d’integrité et de compétence du représantant du bureau de représentation Ingingo ya 25: Kwemererwa Article 25: Authorization Article 25: Autorisation Ingingo ya 26: Imirimo y’ibiro bihagarariye banki y’inyamahanga Article 26: Permissible activities of a representative office Article 26: Activités permises á un bureau de représentation Ingingo ya 27: Ibikorwa ibiro bihagarariye banki bitemerewe gukora Article 27: Prohibited activities for the representative office Article 27: Activités interdites au bureau de représentation

Official Gazette no. 01 of 07/01/2019 5 Ingingo ya 28: Ikiguzi cy’ibikorwa by’igenzura ry’ibiro bihagarariye banki y’inyamahanga Article 28: Supervision and fee for the representative Office Article 28: Supervision et frais pour l’office de representation UMUTWE WA VI: INGINGO ZINYURANYE N’IZISOZA CHAPTER VI: MISCELENEOUS AND FINAL PROVISIONS CHAPITRE VI: DISPOSITIONS DIVERSES ET FINALES Ingingo ya 29: Kubahiriza imari shingiro nshyashya Article 29: Compliance with the new minimum paid up capital Article 29: Conformité au nouveau niveau du capital minimum libéré Ingingingo ya 30: Kubahiriza ibisabwa byerekeye impamyabushobozi n’uburambe Article 30: Compliance with the minimum professional qualification and experience for senior managers Article 30: Conformité des qualifications professionnelles et de l'expérience minimales des cadres dirigeants Ingingo ya 31: Gutanga amakuru agezweho Article 31: Update of information Article 31: Mise à jour des informations Ingingo ya 32: Kubahiriza amategeko n’amabwiriza Article 32: Compliance with existing banking regulations and directive Article 32: Conformité aux lois et règlementations bancaires en vigueur Ingingo ya 33: Ivanwaho ry’ingingo zinyuranyije n’aya mabwiriza Article 33: Repealing provisions Article 33: Provisions abrogatoires Ingingo ya 34: Itegurwa, isuzumwa n’iyemezwa ry’aya mabwiriza rusange Article 34: Drafting and consideration of this Regulation Article 34: De l’initiation, examen et approbation Ingingo ya 35: Igihe aya mabwiriza rusange atangira gukurikizwa Article 35: Commencement Article 35: Entrée en vigueur

Official Gazette no. 01 of 07/01/2019 6 AMABWIRIZA RUSANGE N°2310/2018 - 00013[ 614 ] YO KU WA 27/12/2018 YA BANKI NKURU Y’ U RWANDA YEREKEYE IBISABWA MU KWEMERERA AMABANKI GUKORA REGULATION N° 2310/2018 - 00013[ 614 ] OF 27/12/2018 OF THE NATIONAL BANK OF RWANDA ON LICENSING CONDITIONS OF BANKS REGLEMENT N° 2310/2018 - 00013[ 614 ] DU 27/12/2018 DE LA BANQUE NATIONALE DU RWANDA PORTANT CONDITIONS D’AGREMENT DES BANQUES Ishingiye ku Itegeko No 48/2017 ryo ku wa 23/09/2017 rigenga Banki Nkuru y’u Rwanda, cyane cyane mu ngingo zaryo, iya 6, iya 8, iya 9, iya 10 n’iya 15; Ishingiye ku Itegeko No 47/2017 ryo ku wa 23 /09/2017 rigena imitunganyirize y’imirimo y’amabanki, cyane cyane mu ngingo zaryo, iya 8, iya 9, iya 10, iya 11, iya 12, iya 13, iya 14 n’iya 55; Isubiye ku rusange N° 03/2008 yerekeye ibisabwa mu kwemerera amabanki gukora nk’uko yahinduwe kandi akuzuzwa kugeza ubu ; Banki Nkuru y’u Rwanda, mu ngingo zikurikira yitwa « Banki Nkuru », itanze amabwiriza rusange akurikira: Pursuant to Law N° 48/2017 of 23/09/2017 governing the National Bank of Rwanda especially in its articles 6, 8, 9, 10 and 15; Pursuant to Law Nº 47/2017 of 23/9/2017 governing the organization of banking, especially in articles 8,9, 10,11,12,13,14 n’iya 55; Having reviewed the regulation N° 03/2008 on licensing conditions of banks as modified and complimented to date; The National Bank of Rwanda, hereinafter referred to as «Central Bank», decrees: Vu la Loi N° 48/2017 du 23/09/2017 régissant la Banque Nationale du Rwanda, spécialement en ses articles 6, 8, 10 et 15 ; Vu la Loi No 47/2017 du 23/09/2017 portant organisation de l’activité bancaire, spécialement en ses articles 8, 9, 10, 11, 12, 13, 14 et 55 ; Revu le règlement N° 03/2008 portant conditions d’agrèment des banques tel que modifié et completé à ce jour ; La Banque Nationale du Rwanda, ci-après dénommée « Banque Centrale », édicte : UMUTWE WA MBERE : INGINGO RUSANGE CHAPTER ONE: GENERAL PROVISIONS CHAPITRE PREMIER: DISPOSITIONS GENERALES Ingingo ya mbere: Impamvu y’aya mabwiriza rusange Aya mabwiriza rusange ashyiraho ibisabwa n’uburyo bwo kubona Article One: Purpose of this regulation This regulation sets requirements and procedures to applicants seeking a licence to conduct banking activities. Article Premier: Objet du présent règlement Ce règlement définit des exigences et les procédures à suivre par des requérants désireux

Official Gazette no. 01 of 07/01/2019 7 uruhushya rwo kwemererwa gukora umurimo w’amabanki. Ashyiraho kandi ibisabwa kugirango hashingwe ibiro bihagarariye banki It also sets requirements for the establishment of a representative office. d’obtenir une licence pour exercer des activités bancaires. Il définit également des conditions requises pour l’établissement d'un bureau de représentation. Ingingo ya 2: Ibisobanuro by’amagambo Muri aya mabwiriza rusange, akurikira afite ibisobanuro bikurikira: 1° Banki: isosiyete ihamagarira rubanda kuyiguramo imigabane ifite uburyozwe bugarukira ku migabane cyangwa koperative yemerewe na Banki Nkuru gukora imirimo yo kwakira no kubika amafaranga no gutanga inguzanyo ku giti cyayo. Cyakora, banki z’iterambere ntizemerewe kwakira no kubika amafaranga ya rubanda; 2° Uruhare rugaragara: amafaranga ashorwa mu migabane ya banki, ku buryo butaziguye cyangwa buziguye, ari yonyine cyangwa ari hamwe n’andi, ahwanye nibura n’atanu ku ijana (5%) y’imari shingiro Article 2: Definitions In this Regulation, the following shall mean: 1° Bank: public company limited by shares or a cooperative licensed by the Central Bank to undertake activities of accepting deposits and granting loans for its own account. However, development banks are prohibited to collect deposits from the public; 2° Significant holding: a shareholding in a bank that, directly or indirectly, alone or in conjunction with others, represents at least five percent (5%) of the equity capital or voting rights, or that makes it possible to exercise a significant influence over decisions related to the management of that bank; Article 2 : Définitions Dans le présent règlement, les termes suivants signifient : 1° Banque: société publique à responsabilité limitée par action ou une coopérative agréée par la Banque Centrale pour effectuer des activités de recevoir des fonds pour dépôts et consentir des prêts pour son propre compte. Toutefois, des banques de développement ne sont pas autorisées à recevoir des dépôts du public ; 2° Participation significative: participation dans une banque qui, directement ou indirectement, représente seule ou avec d’autres, au moins cinq pour cent (5%) de ses fonds propres ou de ses droits de vote ou qui permet d’exercer une influence significative dans la prise

Official Gazette no. 01 of 07/01/2019 8 yayo cyangwa by’uburenganzira bwo gutora bwa nyirayo cyangwa amuhesha ububasha bwagira ingaruka mu ifatwa ry’ibyemezo mu micungire y’iyo banki; 3° Umuyobozi Mukuru: umukozi uri mu buyobozi bukuru uri ku rwego rwo hejuru/cyangwa abakozi b’ingenzi bashinzwe imirimo ya banki. Muri bo harimo: a) Umuyobozi Mukuru (CEO/MD); b) Abakozi bo mu buyobozi bukuru batanga raporo ku Nama y’Ubutegetsi cyangwa kuri Komite z’Inama y’Ubutegetsi; na c) Abakozi bo mu buyobozi bukuru batanga raporo ku Muyobozi Mukuru (CEO/MD). 3° Senior manager: the management personnel that are the high-level/key executives of the bank. These are: a) the Chief Executive Officer (CEO)/Managing Director (MD); b) senior executives reporting to the Board or to Board Committees and c) senior executives reporting to the Chief Executive Officer (CEO)/Managing Director (MD). de décisions relatives à la gestion de cette banque ; 3° Cadre dirigeant: le personnel de direction générale qui est le cadre supérieur de la banque. Ceux-ci sont : a) le CEO et/ou Directeur Général (DG); b) les membres de la direction générale répondant au Conseil d’Administration ou aux Comités du Conseil d’Administration ; c) les membres de la direction répondant au CEO et/ou au Directeur général (DG).

Official Gazette no. 01 of 07/01/2019 9 UMUTWE WA II: IBISABWA MU KWEMERERWA CHAPTER II: LICENCING REQUIREMENTS CHAPITRE II: DES EXIGENCES D’AGREEMENT Ingingo ya 3: Ibyiciro by’amabanki hashingiwe ku mirimo yayo Usaba kwemererwa gukora umurimo w’amabanki asaba kuwukora muri ibi byiciro: 1° Banki y’ubucuruzi; 2° Banki y’iterambere; 3° Banki y’abanyamuryango; 4° Banki y’imiturire Imirimo yihariye ya buri cyiciro cy’amabanki iteganijwe ku mugereka wa 1 w’aya mabwiriza rusange. Banki Nkuru ishobora kugena amabwiriza n’amahame ngenderwaho n’ibindi bisabwa hashingiwe ku cyiciro cy’amabanki, sitati y’ayo n’imirimo ya bank. Article 3: Categories of banks and their respective activities The applicant may apply for a licence to conduct the banking activities in the following category: 1° Commercial Bank; 2° Development Bank; 3° Cooperative Bank; 4° Mortgage Bank; The respective activities of each category of a bank are provided in the Appendix 1 of this regulation. The Central Bank may by a directive, establish prudential rules and other requirements applicable to banks based on their categories, legal status and activities. Article 3: Catégories de banques et leurs activités respectives Le requérant peut demander une licence pour exercer des activités bancaires dans l’une des catégories suivantes: 1 ° Banque commerciale; 2 ° Banque de développement; 3 ° Banque coopérative; 4 ° Banque hypothécaire; Les activités respectives de chaque catégorie de banque figurent à l'annexe 1 du présent règlement. La Banque Centrale peut, par une directive, établir des règles prudentielles et d’autres exigences applicables aux banques en fonction de leurs catégories, de leur statut juridique et de leurs activités. Ingingo ya 4: Imari shingiro isabwa Imari shingiro y’usaba uruhushya rwo kwemererwa gukora imirimo ya banki igomba kuba ihagije kugira ngo ibashe guhaza ubwinshi n’ubwoko bwa serivisi ziteganywa gutangwa mu ruhando rw’ipiganwa rihambaye. Imari shingiro y’usaba gukora umurimo w’amabanki nka banki y’ubucuruzi Article 4: Required paid up capital The applicant’s capital shall be adequate to support the projected volume and category of banking activities planned in a highly competitive environment. The applicant proposing to conduct banking activities as a commercial bank, shall have a Article 4 : Capital libéré requis Le capital du requérant doit être suffisant pour faire face au volume et au type de prestations bancaires prévues dans un environnement hautement concurrentiel. Le requérant qui souhaite exercer des activités bancaires en tant que banque commerciale doit

Official Gazette no. 01 of 07/01/2019 10 agomba kuba afite imari shingiro itari munsi y’amafaranga y’u Rwanda miliyari makubyabiri (20.000.000.000 FRW). Imari shingiro y’usaba gukora umurimo w’amabanki nka banki y’iterambere agomba kuba afite imari shingiro itari munsi y’amafaranga y’u Rwanda miliyari mirongo itanu (50.000.000.000 FRW). Imari shingiro y’usaba gukora umurimo w’amabanki nka banki y’abanyamuryango agomba kuba afite imari shingiro itari munsi y’amafaranga y’u Rwanda miliyari icumi (10.000.000.000 FRW). Imari shingiro y’usaba gukora umurimo w’amabanki nka banki y’imiturire agomba kuba afite imari shingiro itari munsi y’amafaranga y’u Rwanda miliyari icumi (10.000.000.000 FRW). Umuntu usaba uruhushya rwo kwemererwa gukora agomba kugaragaza ubushobozi afite bwo guhorana imari idahungabanywa n’igihombo ku gipimo cyagenwe, idashobora kujya munsi igihe cyose kandi akubahiriza icyitegererezo gihoraho cy’imari shingiro ihagije igenwa hakurikijwe amabwiriza rusange n’amabwiriza ya Banki Nkuru. minimum paid up cash capital of not less twenty billion Rwanda Francs (FRW 20,000,000,000). The applicant proposing to conduct banking activities as a development bank, shall have a paid up cash capital of not less than fifty billion Rwanda Francs (FRW 50,000,000,000). The applicant proposing to conduct banking activities as a cooperative bank, shall have a paid up cash capital of not less than ten billion Rwanda Francs (FRW 10,000,000,000). The applicant proposing to conduct banking activities as a mortgage bank, shall have a paid up cash capital of not less than ten billion Rwanda Francs (FRW 10,000,000,000). The applicant for a licence shall demonstrate the ability to maintain its capital funds, unimpaired by losses at the prescribed minimum amount at all times and to comply with the ongoing capital adequacy ratios established in accordance with the Central Bank regulations and directives. disposer d’un capital en numéraire libéré d’au moins vingt milliards de francs rwandais (20.000.000.000 FRW). Le requérant souhaitant d’exercer des activités bancaires en tant que banque de développement doit disposer d’un capital en numéraire libéré d’au moins cinquante milliards de francs rwandais (50.000.000.000 FRW). Le requérant souhaitant d’exercer des activités bancaires en tant que banque cooperative doit disposer d’un capital en numéraire libéré d’au moins dix milliards de francs rwandais (10.000.000.000 FRW). Le requérant souhaitant d’exercer des activités bancaires en tant que banque hypothécaire doit disposer d’un capital en numéraire libéré d’au moins dix milliards de francs rwandais (10.000.000.000 FRW). Le requérant d'agréement doit démontrer qu'il est capable de maintenir ses fonds propres sans subir de pertes du montant minimal prescrit en tout temps, et de respecter les ratios de fonds propres établis conformément aux règlements et directives de la Banque Centrale.

Official Gazette no. 01 of 07/01/2019 11 Ingingo ya 5: Imiterere y’imari shingiro Mu miterere y’imigabane ya banki isaba kwemererwa gukora hagomba kugaragaramo ugukorera mu mucyo guhagije kugira ngo byorohereze Banki Nkuru gusuzuma abashoye imigabane mu kigo, baba abayishoye ku buryo buziguye ndetse n’ubutaziguye, ndetse n’ibigo bigishamikiyeho. Banki Nkuru isuzuma imirimo ya kera y’ubucuruzi yo mu rwego rwa banki n’iyo mu rwego rutari urwa banki, yakozwe n’abafite imigabane myinshi, ubudakemwa bwabo n’uburyo bahagaze mu rubuga rw’abacuruzi, n’ubushobozi mu by’imari abashoye imigabane myinshi bose bafite n’ubushobozi bafite bwo kongera gutanga indi nkunga y’imari, biramutse bikenewe. Dosiye isaba kwemererwa gukora, ariko umwe mu bafite imigabane myinshi akaba atujuje ibisabwa mu bijyanye n’ubunyangamugayo n’ubushobozi nk’uko biteganywa mu mabwiriza rusange yerekeye imiyoborere y’amabanki, ntiyemererwa. Inkomoko y’imari shingiro y’ibanze igomba gushorwa n’indi mari iteganywa gushorwa igomba kumenyeshwa Banki Nkuru, kimwe n’ijanisha ry’imigabane rya buri munyamigabane wese. Article 5: Ownership structure There shall be sufficient transparency in the ownership structure of the proposed bank so as to enable the Central Bank to evaluate the bank significant direct and indirect shareholders and their corporate affiliations. The Central Bank shall review the significant shareholders’ past banking and non- banking business ventures, their integrity and standing in the business community, as well as the financial strength and their ability to provide further financial support, should it be needed. An application, in which one of the significant shareholders does not satisfy the fit and proper person criteria as defined in the regulation on corporate governance for banks, shall be rejected. The source of the initial capital to be invested and that of any future funding, shall be disclosed to the Central Bank, as well as the percentage shareholding of each shareholder. Article 5: Structure de l'actionnariat La structure de l'actionnariat de la banque proposée doit être suffisamment transparente pour permettre à la Banque Centrale d'évaluer des actionnaires importants directs et indirects de la banque et leurs affiliations. La Banque Centrale examine les activités antérieures des actionnaires importants, que ce soit dans le secteur bancaire ou non bancaire, leur intégrité et la réputation dont ils jouissent dans le domaine des affaires, ainsi que la solidité financière de tous les actionnaires importants et leur capacité à fournir un soutien financier additionnel, en cas de besoin. Une demande dans laquelle l'un des actionnaires importants ne remplit pas les critères d’intégrité et de compétences comme prévue dans le règlement relatif á la gouvernance des banques, est rejetée. La source du capital initial à investir et celle de tout financement futur sont communiquées à la Banque Centrale, ainsi que le pourcentage de participation de chaque actionnaire.

Official Gazette no. 01 of 07/01/2019 12 Buri munyamigabane yaba ari umuntu ku giti cye cyangwa ikigo, agomba gushyikiriza Banki Nkuru inyandiko iri ku mugereka wa 5 w’aya mabwiriza rusange yemeza ko umutungo wifuzwa gushorwa udaturuka mu bikorwa bitemewe n’amategeko, mu byaha no mu bikorwa bikemangwa. Banki Nkuru ishobora gukora iperereza ku nkomoko y’iyo mari kugira ngo yizere ko itakomotse mu bikorwa biteremewe n’amategeko, mu byaha no mu bikorwa bikemangwa. Each proposed significant individual and institutional shareholder shall submit declaration provided in Appendix 5 of this regulation, a statement to the effect that the proposed capital of funding is not from illegal, criminal and suspicious activities. The Central Bank may investigate the source of such funds to ensure funds are not derived from illegal, criminal and suspicious activities. Chaque actionnaire important individuel et institutionnel proposé doit soumettre une déclaration, fournie à l’annexe 5 du présent règlement, indiquant que le capital de financement proposé ne provient pas d’activités illégales, criminelles ou suspectes. La Banque Centrale peut enquêter sur l'origine de ces fonds pour s'assurer que ceux-ci ne proviennent pas d'activités illégales, criminelles ou suspectes. Ingingo ya 6: Urwego rw’abayobozi bakuru muri banki Usaba kwemererwa gukora agomba kugaragaza, ku buryo bunyuze Banki Nkuru, ko abayobozi bayo bujuje ibisabwa mu byerekeye ubunyangamugayo n’ubushobozi nk’uko biteganywa mu mabwiriza rusange yerekeye imiyoborere y’amabanki. Abari mu nama y’ubuyobozi n’abakozi bakuru bagomba kuba bafite ubumenyi buri ku rwego rutuma babasha gukora imirimo y’ubucuruzi banafite ubushobozi bwo gupigana n’ibindi bigo by’imari bihari. Article 6: Status of the bank’ senior managers The applicant shall prove, to the satisfaction of the Central Bank that the applicant’s senior management satisfies the fit and proper criteria as defined in the regulation on corporate governance for banks. The directors and senior managers shall have relevant qualifications (both academics and profession) and experience at a level, which shall enable them to conduct business competently and competitively with existing financial institutions. Article 6: Statut de cadres dirigeants de la banque Le requérant doit prouver, à la satisfaction de la Banque Centrale, que sa direction générale satisfait aux critères de d’intégrité et de compétences tels que définis dans le règlement relatif á la gouvernance des banques. Les administrateurs et les cadres supérieurs doivent posséder les qualifications (universitaires et professionnelles) et l’expérience requises pour pouvoir mener leurs activités de manière compétente et compétitive par rapport aux institutions financières existantes.

Official Gazette no. 01 of 07/01/2019 13 Ingingo ya 7: Impamyabushobozi n’uburambe bw’abakozi bakuru Umuyobozi mukuru wa banki agomba kuba afite imwe mu mpabyabushubozi mu by’ibaruramari, icungamari, amabanki by’umwuga nka ACCA, CFA, CPA cyangwa biri ziri ku rwego rumwe; cyangwa icyiro cya gatatu cya kaminuza mu ibaruramari, icungamari, ubukungu, icungamutungo, ikoranabuhanga mu icunga mutungo , amategeko cyangwa bijya gusa n’imyaka byibura 5 y’uburambe mu miyoborere cyangwa ubuyobozi bukuru. Umukozi mukuru ushinzwe imari n’ushinzwe ibikorwa ba banki bagomba kuba bafite imwe mu mpamyabushobozi za ACCA, CPA, CFA cyangwa izindi ziri ku rwego rumwe n’uburambe bw’imyaka byibuza itatu mu buyobozi mu bigo by’imari, mu bigo by’ubugenzuzi bw’ibigo by’imari cyangwa ibigo bifitanye isano; Umukozi mukuru ushinzwe igenzura ry’imbere cyangwa ukuriye uwo murimo agomba kuba afite imwe mu mpamyabushobozi mu igenzura ry’imbere, ACCA, CPA, CFA cyangwa indi iri ku rwego rumwe n’uburambe bw’imyaka itatu mu buyobozi mu bigo by’imari, ibigo by’ubugenzuzi bw’imari cyangwa ibigo bijya gusa na byo; Article 7: Qualification and experience of Senior Managers The Chief Executive Officer or Managing Director shall be a holder of one of a professional certificate in accounting, finance, banking like ACCA CPA, CFA or a Master’s Degree in accounting, finance, economics, business administration, business information system, law or similar qualifications and at least 5 years of experience in leadership or senior Managerial positions. The Chief Finance Officer and the Chief Operating Officer of a bank or heads of such functions shall be holders of one of a professional certificate like ACCA, CPA or CFA or similar certification with at least three years of experience in managerial positions in financial institution, auditing firms or related institutions; The Chief Internal Auditor or Head of internal audit function shall be a holder one of a professional certificate in internal auditing, ACCA, CPA, CFA or similar certification and at least three years of experience in managerial positions in financial institution or auditing firms or related insitutions; Article 7: Qualification et expérience des cadres dirigeants Le directeur général doit être titulaire de l'un de certificat professionnel en comptabilité, en finance, en banque, comme l'ACCA, CPA ou CFA, ou d'une maîtrise en comptabilité, en finance, en économie, en administration des affaires, en système d'information d'entreprise, droit et au moins cinq ans d’expérience dans des postes de leadership ou de direction. Le chef des finances et le chef des operations d’une banque ou le responsable de ces fonctions doivent être titulaires d’un de certificat professionnel tel que l’ACCA, le CPA ou le CFA ou une certification similaire et au moins trois ans d’expérience à des postes de direction dans une institution financière, un cabinet d’audit ou des institutions similaires. Le chef d'audit interne ou le responsable de la fonction de l’audit interne doit être titulaire d'un de certificat professionnel en audit interne, ACCA, CPA, CFA ou d'une certification similaire et avoir au moins trois ans d'expérience à des postes de direction dans une institution financière, un cabinet d'audit ou une institution similaires.

Official Gazette no. 01 of 07/01/2019 14 Umukozi mukuru ushinzwe gucunga ingorane cyangwa uhagariye uwo murumo agomba kuba afite impamyabushobozi mu gucunga ingorane, ACCA, CFA, CPA cyangwa iri ku rwego rumwe n’uburambe bw’imyaka itatu mu buyobozi mu bigo by’imari, ibigo by’ubugenzuzi bw’imari cyangwa ibigo bifitanye isano na byo; Umukozi mukuru ushinzwe ikoranabuhanga cyangwa uhagariye uwo murimo agomba kuba afite impamyabushobozi mu ikoranabuhanga mu itumanaho n’imyaka itatu y’uburambe mu buyobozi; Abandi bakozi bakuru bagomba kuba bafite impamyabushobozi mu bijyanye n’amabanki cyangwa impamyabushobozi zihuye n’imirimo bashinzwe n’uburambe bw’imyaka itatu muri serivisi z’imari cyangwa serivisi bifitanye isano; The Chief Risk Officer or the head of the risk function shall be a holder of one of a professional certificate in risk management, ACCA, CFA, CPA or similar certification and at least three years of experience in managerial position in financial institution, auditing firms or related institutions; The Chief Information Officer or the head of such function shall be a holder of a professional certificate in information technology and at least three years of experience in managerial position. Other Senior Managers shall be holders of a professional certificate in banking or other relevant professional certification compatible with their positions and at least three years of experience in financial services or related field; Le Chef de risques ou le responsable de la function de risques doit être titulaire d'un certificat professionnel en gestion des risques, une certification ACCA, CFA, CPA ou une certification similaire, et au moins trois années d’expérience à des postes de direction dans une institution financière, un cabinet d’audit ou une institution apparentée. Le chef du systeme d’information ou le rsponsable de cette fonction doit être titulaire d'un certificat professionnel en technologies de l'information et d'au moins trois ans d'expérience à des postes de direction. Les autres cadres dirigeants doivent être titulaires d'un certificat professionnel en banque ou d'une autre certification professionnelle pertinente compatible avec leurs postes et d'au moins trois ans d'expérience dans les services financiers ou dans un domaine connexe. Ingingo ya 8: Ibyihariye Banki Nkuru yibandaho mu kwemerera banki gutangira imirimo Uretse ibyitabwaho bisobanurwa mu ngingo kuva ku ya 4 kugeza ku ya 6 y’aya mabwiriza, Banki Nkuru yita no kuri ibi bikurikira mu gutanga cyangwa kutanga icyemezo cyo kwemererwa gukora: Article 8: Specific considerations by the Central Bank in licensing In addition to the considerations specified in articles 4 to 6 of this regulation, the Central Bank shall further take into account the following as the basis of issuing or not issuing the licence: Article 8: Considérations spécifiques de la Banque Centrale en matière d’agrements Outre les considérations énoncées aux articles 4 à 6 du présent règlement, la Banque Centrale prend en compte les éléments suivants pour accorder l’agréement ou non :

Official Gazette no. 01 of 07/01/2019 15 1° uruhare banki isaba kwemererwa gukora iteganya kugira mu gucyemura ibibazo byagaragajwe mu cyiciro cyangwa urwego runaka rw’ubukungu iyo banki ishaka kugiramo imishinga yifashishije ingamba zateguranywe ubushishozi ndeste n’uruhare mu bukungu by’u Rwanda; 2° ingamba rusange usaba kwemererwa ateganya kugira ngo agire amahirwe ku isoko zikubiye muri gahunda y’ibikorwa bifatika harimo n’isesengura ry’ibishobora gukorwa. 3° Ibicuruzwa cyangwa serivisi zihanga udushya ndetse n’umurongo w’ubucuruzi mushya ugereranije n’ibisanzwe ku isoko; 4° imiterere y’usaba mu bijyanye n’amategeko, ubuyobozi, imikorere n’imiterere y’imari shingiro ndeste n’itsinda usaba abarizwamo bitahungabanya ubugenzuzi bukwiye kuri banki cyangwa mu itsinda ibarizwamo; 1° the expected role for the proposed bank in meeting identified needs for a particular area or sector of the economy to be served by it through a carefully conceived strategy as well as the overall contribution to the Rwandan economy; 2° the overall strategy of the applicant for succeeding in the market expressed into a business plan to support a comprehensive performance and viability analysis; 3° innovative products or a new business model compared to existing on the market; 4° the proposed legal, managerial, operational and ownership structures of the applicant and its wider group will not hinder effective supervision on both a solo and a consolidated basis; 1° toute contribution envisagée par la banque en constitution à la satisfaction des besoins identifiés dans un domaine ou un secteur donné de l’économie dans lequel elle entend intervenir au moyen d’une stratégie mûrement conçue ainsi que de sa contribution globale à l’économie rwandaise; 2° la stratégie globale du requérant visant à réussir sur le marché, exprimée dans un plan d'entreprise visant à soutenir une analyse complète de la performance et de la viabilité; 3° des produits innovants ou un nouveau modèle d’affaire par rapport à ceux existant sur le marché; 4° les structures juridiques, managériales, de gestion, opérationnelles et actionariat proposées du requérant et de son groupe élargi ne faisant pas obstacle à une supervision efficace, tant sur une base individuelle que consolidée;

Official Gazette no. 01 of 07/01/2019 16 5° gusuzuma niba imiterere y’usaba kwemererwa itabangamira ishyirwa mu bikorwa ry’ingamba zikosora zafatwa. 5° determines, where appropriate, that the applicant structures will not hinder effective implementation of corrective measures in the future. 5° détermine, le cas échéant, que les structures du requérant n'empêcheront pas la mise en œuvre effective des mesures correctives à l'avenir. Ingingo ya 9: Kutabangamira igenzura Usaba agomba kugenzura ko nta mpamvu n’imwe ihari, nk’ibura ry’amakuru cyangwa ubucye bwayo no kudakorera mu mucyo, byabangamira amaperereza akorwa nyuma yo gutanga dosiye isaba kwemererwa cyangwa yabuza igenzura nyuma yo guhabwa uruhushya rwo gukora. Ku byerekeye abasaba b’abanyamahanga, ni ngombwa ko habaho urwego rw’imikoranire hagati ya Banki Nkuru n’umugenzuzi wo mu gihugu usaba akomokamo kugira ngo habeho igenzura rihurije hamwe. Article 9: No hindrance to supervision The applicant shall ensure that there is no factor, such as unavailability or inadequacy of information and lack of transparency, which may hinder the conduct of investigation after the submission of his or her application or inhibit effective supervision after the issuance of a licence. With respect to foreign applicants, a level of cooperation between the Central Bank and the home country supervisor shall need to be established to permit the conduct of consolidated supervision. Article 9: Non entrave à la supervision Le requérant doit s’assurer qu’aucun facteur, tel que l’indisponibilité ou l’insuffisance d’information et le manque de transparence, n’entrave la conduite d’enquêtes après le dépôt de sa demande ou n’empêche une supervision efficace après la délivrance d’un agrément. En ce qui concerne les requérants étrangers, un certain degré de coopération entre la Banque Centrale et l’organe de supervision du pays d’origine doit être établi pour favoriser la conduite d’une supervision consolidée. UMUTWE WA III: UBURYO BUKORESHWA MU KWEMERERA GUKORA Ingingo ya 10: Gusaba kwemererwa gukora Dosiye isaba uruhushya rwo kwemererwa gukora itegurwa nk’uko biteganijwe ku mugereka wa 2 w’aya mabwiriza rusange, kandi igaherekezwa n’inyandiko CHAPTER III: LICENSING PROCEDURES Article 10: Application for a license An application for a licence shall be made in the form set out in Appendix 2 of this regulation, and shall be accompanied by the supporting documents specified in article 11 of this regulation. CHAPITRE III : PROCEDURES D’AGREMENT Article 10: Demande d’agrément Toute demande d’agrément doit être formulée sous la forme décrite à l’Annexe 2 du present règlement, et doit être accompagnée par les documents justificatifs spécifiés à l’article 11 du présent règlement.

Official Gazette no. 01 of 07/01/2019 17 zishyigikira isaba zivugwa mu ngingo ya 11 y’aya mabwiriza rusange. Dosiye isaba uruhushya rwo kwemererwa gukora igomba gusobanura icyiciro cy’uruhushya gisabwa n’imirimo y’amabanki usaba ateganya gukora. Buri dosiye isaba uruhushya rwo kwemererwa gukora iherekezwa n’amafaranga adasubizwa angana na miriyoni ebyiri y’amafaranga y’u Rwanda (2.000.000 FRW). An application for a licence must specify the class of licence being applied and banking activities that the applicant intends to carry out. A non-refundable application fee of Rwanda Francs one million (2,000,000 FRW) shall accompany each application for a licence. Toute demande d’agrément doit préciser la catégorie d’agrément qui est sollicitée et les activités bancaires que le requérant envisage d’exercer. Chaque demande d’agrément doit être accompagnée des frais non remboursables de deux million de francs rwandais (2.000.000FRW). Ingingo ya 11: Amakuru n’inyandiko za ngombwa Kugira ngo hubahirizwe ibisabwa mu itegeko rigena imitunganyirize y’imirimo y’amabanki, buri dosiye yose isaba uruhushya rwo kwemererwa gukora igomba guherekezwa n’inyandiko zikurikira: 1° ifishi iriho amakuru yerekeye usaba kwemererwa gukora n’aya buri wese mu bafite imigabane igaragara (iyo ari ikigo), n’ayerekeye amasosiyete usaba afitemo imigabane cyangwa amashami mu buryo busobanuwe ku Mugereka wa 3 ; Article 11: Information and supporting documents To comply with the requirements provided in the law governing the organization of banking, each application for a licence shall be accompanied by the following supporting documents: 1° an information sheet for the applicant and for each of its significant shareholders (if corporate), subsidiaries or affiliates in the form set out in Appendix 3; Article 11: Information et documents d’appui Afin de satisfaire aux exigences énoncées dans la loi portant organisation de l’activité bancaire, chaque demande d’agrément doit être accompagnée des documents suivants: 1° une fiche d’information pour le requérant et pour chacun de ses actionnaires importants (s’il s’agit de sociétés), ainsi que pour ses filiales ou sociétés affiliées dans la forme indiquée à l’Annexe 3 ;

Official Gazette no. 01 of 07/01/2019 18 2° urupapuro rw’imenyekanisha rw’umuntu ku giti cye kuri buri wese mu bateganya gushyirwa mu nama y’ubuyobozi, abakozi bo mu myanya y’ubuyobozi n’abafite imigabane myinshi (iyo ari abantu ku giti cyabo) mu buryo busobanuwe ku Mugereka wa 4; 3° raporo y’umwenda y’usaba kwemererwa gukora, n’iza buri wese mu bafite imigabane igaragara, iz’abateganywa mu nama y’ubutegetsi n’abakozi bakuru bo mu myanya y’ubuyobozi zitanzwe na banki bakorana; 4° imiterere y’imari shingiro iteganyijwe; 5° gahunda y’ibikorwa: a) ikubiyemo isengura ry’isoko, ibikorwa bizakorwa, uburyo ibikorwa bizagera ku bakiliya, ingorane zishobora kuvuka 2° a personal declaration form for each of the proposed significant shareholder ( if natural person ), directors and senior managers in the form set out in Appendix 4 ; 3° individual credit report for the applicant and each of the significant shareholders, proposed directors and senior managers from a licensed credit bureau; 4° a proposed capital structure; 5° a business plan that : a) include a detailed market analysis, proposed products, planned channels of delivery, attendant risks and mitigation strategies; 2° une déclaration individuelle de chacun des futurs administrateurs, dirigeants et actionnaires importants (s’il s’agit de personnes physiques) dans la forme indiquée à l’Annexe 4 ; 3° le rapport de crédit individuelle du requérant et de chacun des actionnaires importants, des administrateurs proposés et de cadres supérieurs provenant d'un bureau de crédit agréé; 4° la structure de capital proposée; 5° un plan d’affaires qui : a) inclus une analyse de marché détaillée, les produits proposés, les canaux de distribution prévus, les risques associés et les stratégies d'atténuation;

Official Gazette no. 01 of 07/01/2019 19 n’uburyo bwo kuzigabanya; b) kuba ikubiyemo gahunda y’imari iteganijwe mu gihe cy’imyaka itanu; c) kuba ikubiyemo isesengura ry’imyumvikanire y’iyo gahunda ku mihindukire y’ibikorwa biteganywa; d) ikubiyemo amakuru ahagije ku nkomoko y’umutungo y’abanyamigabane mu gushora imari mu kigo; e) yerekana uko imiterere y’ikigo iteye n’uko izagenzurwa; f) ikubiyemo gahunda ihamye mu gucungana n’ingorane zaturuka ku nguzanyo, ku gipimo cy’amafaranga abitse, cy’ivunjisha, ku gipimo cy’inyungu, ku b) include detailed financial projections for at least five years ; c) include assumptions underlying the sensitivity analysis; d) include sufficient information on the financial resources of the founders to support the institution; e) describe how the institution is to be organised and controlled internally; f) include a description of comprehensive risk management systems for credit, liquidity, foreign exchange, interest rate, operational and other risks; b) inclus des projections financières détaillées pour au moins cinq ans ; c) inclus des hypothèses sous-tendant et l'analyse de sensibilité ; d) inclus des informations suffisantes sur les ressources financières des fondateurs pour soutenir l'institution; e) décrit comment l’institution doit être organisée et contrôlée en interne; f) inclus une description des systèmes complets de gestion des risques pour les risques de crédit, de liquidité, de change, de taux d’intérêt, opérationnels et autres;

Official Gazette no. 01 of 07/01/2019 20 mikorere n’ibindi bibazo; g) kugaragaza politiki usaba afite n’iyo ateganya ku byerekeye kwishyura inyungu z’imigabane; 6° Icyemezo cy’ishingwa rya sosiyete nka sosiyete ihamagarira rubanda kuyiguramo imigabane; Amasezerano n’Amategeko Shingiro bya sosiyete; icyemo cyo gukora, amategeko nshingiro na ngenga mikorere kuri koperative; 7° kopi za rapori z’imari zagenzuwe z’imyaka itatu ishize kandi ziteguwe nk’uko bisabwa n’amahame y’ibaruramari mu gihe ari ikigo cy’imari cyangwa sosiyete yari isanzwe ikora; 8° kopi y’umwazuro w’abagize inama y’ubutegesti cyangwa abanyamigabane yemeza g) disclose the applicant’s current and contemplated future policy with regard to the payment of dividends; 6° the Certificate of Incorporation as a public limited company; the Memorandum and Articles of Association for a company and the Certificate of registration, statutes and internal rules for a cooperative; 7° certified copies of audited financial statements for the past three years and prepared in accordance with generally accepted accounting principles for the existing financial institutions and companies which have been engaged in other businesses before applying to conduct the banking activity; 8° a certified copy of the resolution of the Board of Directors or shareholders authorizing the preparation and submission of the application; g) divulguer la politique actuelle et future envisagée du requérant en ce qui concerne le paiement de dividendes; 6° le certificat de constitution en tant que société publique; l'acte constitutif et les statuts d'une société et le certificat d'enregistrement, les statuts et le règlement d’ordre intérieur pour les coopérative; 7° des copies certifiées des états financiers audités pour les trois derniers exercices et établis conformément aux principes comptables généralement admis, pour les institutions financières et entreprises existantes qui ont été engagées dans d’autres activités avant de solliciter l’autorisation d’exercer l’activité bancaire ; 8° une copie certifiée de la résolution du Conseil d’administration autorisant la préparation et le dépôt de la demande ;

Official Gazette no. 01 of 07/01/2019 21 gusaba kwemerewa gukora umurimo w’amabanki; 9° Icyemezo cy’ubwishyu cy’amafaranga adasubizwa; 10°andi makuru agaragaza ubushobozi bw’usaba n’andi makuru usaba yabona ko akenewe; 11°andi makuru Banki Nkuru yabona ko ari ngombwa. Gutanga amakuru atari yo cyangwa yo kuyobya bituma usaba kwemererwa gukora afatwa nk’utujuje ibisabwa kandi biba impamvu zihagije zishingirwaho mu kumuhakanira cyangwa kwamburwa uruhushya rwo gukora, iyo rwatanzwe. 9° a proof of payment of the nonrefundable fee; 10° any other information relating to the viability of the proposed institution or other matters which the applicant may consider relevant; and 11° any other information which the Central Bank may request the applicant to provide. The submission of any untrue or misleading information shall render the applicant a person not fit and proper and shall constitute sufficient grounds for rejection of the application or revocation of the licence, where a licence has been granted. 9° une preuve de paiement des frais non remboursables ; 10°toute autre information concernant la viabilité de institution à créer ou tous autres éléments que le requérant peut juger pertinents ; 11°toute autre information que la Banque Centrale pourrait demander au requérant de fournir. La transmission d’informations fausses ou trompeuses disqualifie le requérant et constitue de motifs suffisants de rejet de la demande ou de révocation de l’agrément, dans le cas où un agrément aurait été accordé. Ingingo ya 12: Ibisabwa byihariye kuri banki yabyawe na banki y’inyamahanga yemererwe gukora Uretse ibiteganijwa mu ngingo ya 11 y’aya mabwiriza rusange, banki y’inyamahanga yifuza gushinga banki iyikomokaho igomba gutanga amakuru akurikira: 1° inyandiko mvugo y’urwego rw’ubugenzuzi rwo mu gihugu akomokamo rwemera ko Article 12: Specific required information for a subsidiary of the foreign bank In addition to requirements provided in Article 11 of this regulation, a foreign bank wishing to establish a banking subsidiary shall submit the following information and supporting documents: 1° a letter of no objection from the home supervisory authority recommending the Article 12: Informations spécifiques requises pour une filiale de la banque étrangère Outre les exigences prevues à l’article 11 du présent règlement, une banque étrangère qui souhaite créer une filiale bancaire transmet les informations et pièces justificatives suivantes: 1° une lettre de non-objection de l'autorité de contrôle du pays d'origine recommandant au

Official Gazette no. 01 of 07/01/2019 22 usaba yemerewe gukorera mu Rwanda; 2° inyandiko y’urwego rw’ubugenzuzi rwo mu gihugu akomokamo rwemeza ko akora igenzura rihujwe; 3° inyandiko y’urwego rw’ubugenzuzi rwo mu gihugu akomokamo yerekana ko hari bushake bwo gukorana amasezerano y’ubwumvikane mu bijyanye no guhererekanya amkuru no gucinga ihungabana no kuririnda ; 4° andi makuru Banki Nkuru yabona ko akenewe mu gusesengura ubusabe. applicant to establish subsidiary in Rwanda; 2° a confirmation from the home supervisor that he undertakes the consolidated supervision; 3° a statement from the home supervisor that he is willing to enter into a memorandum of understanding with regard to exchange of information and crisis management and resolutions; 4° any other information that the Central Bank deems necessary to assess the applicant. requérant d'établir une filiale au Rwanda; 2° une confirmation de l'autorité de contrôle du pays d'origine qu'il exerce la surveillance consolidée; 3° une déclaration de l'autorité de contrôle du pays d'origine indiquant qu'il est disposé à signer un protocole d'accord en matière d'échange d'informations, de gestion de crise et de résolutions; 4° toute autre information que la Banque Centrale jugera nécessaire pour évaluer le requérant. Ingingo ya 13: Urwandiko rumenyekanisha Nyuma yo kwakira dosiye isaba kwemererwa gukora n’inyandiko za ngombwa nk’uko biteganywa n’ingingo ya 11 n’iya 12 y’aya mabwiriza rusange, Banki Nkuru igomba, mu gihe cy’iminsi itarenze irindwi (10) y’akazi, koherereza usaba urwandiko rumumenyesha ko dosiye ye isaba kwemererwa gukora yuzuye cyangwa ko ituzuye. Article 13: Letter of information Upon receipt of an application form together with the requisite supporting documents as provided under articles 11 and 12 of this regulation, the Central Bank shall, within ten (10) working days, send the applicant a letter of information specifying that the file submitted for license is complete or not . Article 13: Lettre d’information Dès réception d’un formulaire de demande accompagné des frais requis et des documents d’appui prévus tel que prévu aux articles 11 et 12 du present reglement, la Banque Centrale doit, dans un délai de dix (10) jours ouvrables, envoyer au requérant une lettre d’information lui notifiant que le dossier soumis pour agrément est complet ou non.

Official Gazette no. 01 of 07/01/2019 23 Iyo bigaragaye ko inyandiko zatanzwe zuzuye, imirimo yo kuzisuzuma ihita itangira. Mu gihe inyandiko zatanzwe zituzuye, urwandiko rumenyekanisha rugomba kugaragaza ibisabwa bitubahirijwe muri dosiye yatanzwe, igatanga igihe ntarengwa cyo kuzuza ibisabwa bitubahirijwe, kandi nta kindi cyemezo Banki Nkuru ishobora gufata keretse iyo ibisabwa kuzuzwa bimaze kuzura mu gihe ntarengwa cyagenwe. If the documents submitted for license are found to be complete, the assessment or evaluation of the file will commence. Where the documents submitted are not complete, the letter of information shall outline deficiencies in the application, provides a deadline for rectification of the deficiencies, and no further action shall be taken by the Central Bank unless the deficiencies are rectified within the period prescribed. Si les documents soumis pour agrément sont jugés complets, l’évaluation doit commencer. Lorsque les documents soumis sont incomplets, la lettre d’information précise les insuffisances contenues dans la demande, indique un délai pour la rectification des insuffisances, et aucune autre action ne sera prise par la Banque Centrale à moins que ces insuffisances soient rectifiées dans le délai prescrit. Ingingo ya 14: Isesengura ry’ubusabe Banki Nkuru isesengura ubusabe ishingiye ku makuru yatanzwe n’usaba cyangwa amakuru yakuye ahandi hizewe. Article 14: Analysis of the application The Central Bank assess the application based on information provided by the applicant or information gathered from other reliable sources. Article 14: Analyse de la demande La Banque Centrale évalue la demande en fonction des informations fournies par le requérant ou informations recueillies auprès d'autres sources fiables. Ingingo ya 15: Igihe cyo gusubiza uwasabye n’icyemezo cya Banki Nkuru Mu gihe kitarenze ukwezi, nyuma yo kwakira dosiye yuzuye, Banki Nkuru itegura raporo y’isesengura ry’ubusabe kandi ikamenyesha usaba icyemezo cyafashwe. Iyo nta gisubizo kibonetse mu gihe cyavuzwe haruguru, Banki Nkuru imenyesha usaba impamvu z’iryo tinda mu gihe kitarenze iminsi cumi n’itanu (15). Icyakora, uhereye igihe Banki Article 15: Period to respond to the applicant and the Central Bank decision The Central Bank shall, within one month after receipt of a complete application prepare a detailed assessment report in respect of the application and communicate the decision to the applicant. If no decision is communicated within the period stated above, the Central Bank notifies the applicant of the reasons of delay within fifteen (15) days. However, following the date on which the Bank has Article 15 : Délai pour répondre au requérant et la décision de la Banque Centrale La Banque Centrale doit prendre sa décision sur la demande d’agrément endéans un (1) mois à compter de la date à laquelle le dossier a satisfait à toutes les informations exigées. Si aucune décision n’est communiquée au cours de la période indiquée ci-dessus, la Banque Centrale informe le requérant des raisons du retard endéans quinze (15) jours. Toutefois, à compter de la date à laquelle elle a reçu la

Official Gazette no. 01 of 07/01/2019 24 yaboneye idosiye yuzuye, itanga igisubizo cya burundu mu gihe kitarenze amezi atatu (3). Iyo raporo yerekana icyemezo Banki Nkuru yafashe cyo: 1° kuyemerera gukora, iyo isanga yujuje ibisabwa kwemererwa gukora; 2° gutanga uburenganzira bwo gukora habanje kubahirizwa ibyangombwa bimwe na bimwe Banki Nkuru ibona ko ari ngombwa ; 3° guha usaba uruhushya rwo gukora rureba gusa igice cy’imirimo y’amabanki afitiye ibisabwa byuzuye; 4° kudatanga uruhushya rwo gukora ku mpamvu zisobanurwa mu nyandiko imenyekanisha icyemezo cyafashwe cyangwa mu rwandiko rwimana uruhushya. received the complete application, it communicates the final decision within three (3) months. The report shall indicate the decision of the Central Bank to: 1° grant the licence, if it is satisfied that the application satisfies the requirements for licensing; 2° grant the licence subject to the fulfilment of certain conditions that it may deem necessary; 3° grant the applicant a limited licence covering only part of the bank business for which the applicant meets the requirements; or 4° refuse to grant the licence for reasons stated in the notice of decision or letter of refusal. demande complète, la Banque donne sa décision définitive endéans trois (3) mois. Le rapport indique la décision de la Banque Centrale : 1° d’accorder l’agrément, si selon son appréciation la demande satisfait aux conditions d’agrément ; 2° d’accorder l’agrément sous réserve que soient remplies certaines conditions qu’elle juge nécessaires; 3° d’accorder au requérant un agrément limité ne couvrant qu’une partie de l’activité bancaire pour laquelle elle remplit les conditions requises ; ou 4° de refuser d’accorder l’agrément pour des motifs indiqués dans l’avis de décision ou la lettre de refus.

Official Gazette no. 01 of 07/01/2019 25 Ingingo ya 16: Kumenyeshwa icyemezo Banki Nkuru igomba kumenyesha usaba mu nyandiko icyemezo cyo kumwemerera gukora imirimo y’amabanki cyangwa impamvu zo kutamwemerera. Article 16: Notification of the decision The Central Bank must notify in writing the applicant of its decision to grant a banking licence or reasons for refusal to grant a banking licence. Article 16: Communication de la décision La Banque Centrale informe le requérant, par écrit, de sa décision d’accorder ou les raisons du refus d’accorder l’agrément. Ingingo ya 17 : Ibindi bisabwa Iyo Banki Nkuru ifashe icyemezo cyo gutanga uruhushya rwo gukora, igomba, mu nyandiko imenyesha icyemezo cyo gutanga uruhushya, gusaba ibi bikurikira: 1° icyemezo cy’amafaranga yabitswe ku izina ry’usaba kigaragaza ko yabikije umubare w’amafaranga utegetswe utari munsi y’imari shingiro yashyizwe kuri konti muri Banki Nkuru; 2° gushyikiriza Banki Nkuru inyandiko zuzuye zisobanura imikorere, zikubiyemo politiki n’uburyo bukoreshwa mu gutanga inguzanyo, gushora imari, kubitsa amafaranga, ivunjisha n’indi mirimo y’ingenzi ikorwa na banki; 3° gutanga inyandiko za politiki zijyanye no gucungana Article 17: Additional requirements Where the Central Bank decides to grant a licence, it shall, in the notice communicating the decision to grant a licence, require the applicant to submit, the following: 1° a certificate of deposit in the name of the applicant indicating that it has deposited an amount not less than the required minimum paid-up capital to applicant account opened in the Central Bank; 2° provide the Central Bank with complete operating manuals, covering policies and procedures on loans, investments, deposits, foreign exchange and other major operations of the bank; 3° provide information regarding risk management policies and procedures Article 17: Conditions supplémentaires Lorsque la Banque Centrale décide d’accorder l’agrément, elle demande au requérant, dans l’avis faisant état de sa décision, de soumettre: 1° un certificat de dépôt au nom du requérant indiquant qu'il a déposé un montant au moins égal au capital liberé minimal requis pour le compte du requérant ouvert à la Banque Centrale; 2° fournir à la Banque Centrale des manuels des opérations complets couvrant les politiques et procédures relatives aux prêts, aux investissements, aux dépôts, aux opérations de change et aux autres opérations importantes de la banque; 3° fournir des informations sur les politiques et procédures de gestion

Official Gazette no. 01 of 07/01/2019 26 n’ikibazo cyaturuka ku nguzanyo, ku gipimo cy’amafaranga abitse, cy’ivunjisha, ku gipimo cy’inyungu, ku mikorere n’ibindi bibazo; 4° gutanga amakuru ku bijyanye n’imicungire y’ikoranabuhanga, ingero zizakorehwa n’imigereka; 5° kugaragaza amakuru ku bijyanye n’uburyo banki izifashisha undi muntu mu gukora imirimo yagira ingaruka zikomeye; 6° kwishyura amafaranga y’ikiguzi cy’uruhushya; 7° gutanga izindi nyandiko cyangwa amakuru Banki Nkuru yabona ko ari ngombwa. including credit, liquidity, interest rate, foreign exchange and operational risks; 4° provide information regarding management information systems, description of sample forms, reports and appendix of the information technology; 5° provide information related to material outsourcing services together with information on service providers; 6° pay the licence fee prescribed under this regulation; 7° provide any other documents or information, which the Central Bank may require. des risques notamment les risques de crédit, de liquidité, de taux d'intérêt, de change et opérationnels; 4° fournir des informations sur la gestion de systèmes d'information, une description des exemples de formulaires, des rapports et des annexes de la technologie ; 5° fournir des informations relatives aux services qui seront externalisés et leurs prestataires; 6° payer les frais d’agrément prescrit en vertu du présent règlement; 7° fournir tout autre document ou information que la Banque Centrale pourrait exiger. Ingingo ya 18: Igenzura ry’aho banki izakorera Hatitawe ku itangwa ry’uruhushya, nta banki yemerewe gutangiza imirimo itabanje kubyemererwa na Banki Nkuru Article 18: Onsite visit of banking premises Notwithstanding the issuance of a licence, no bank shall start its banking operations without prior clearance from the Central Bank, which shall Article 18: Visite sur les lieux abritant l’activité Nonobstant la délivrance d’un agrément, aucune banque ne peut démarrer ses activités sans l’autorisation préalable de la Banque

Official Gazette no. 01 of 07/01/2019 27 kuko ari yo ikora igenzura ribanziriza itangizwa ry’imirimo ya banki. Igenzura ribanziriza itangizwa ry’imirimo ya banki rigenzura aho iteganya gukorera mu rwego rwo kwemeza ko inyubako izakoreramo zibereye ugereranyije n’ibyo banki iteganya kuhakorera, ko ifite ibyumba by’umutamenwa n’uburyo bwo kubungabunga umutekano, ibyuma bikoresha ikoranabuhanga n’ibikorwa￾remezo by’itumanaho biberanye n’urwego rwa banki igiye kuhakorera. conduct a pre-opening inspection of the proposed banking premises. The pre- opening inspection is to confirm the adequacy of the premises for the proposed business, verify strong rooms and vault and the existence of a security system, electronic equipment and communication facilities suited to the type of bank concerned. Centrale qui procède à une inspection préalable des locaux de la banque. L’inspection préalable vise à confirmer l’adéquation des locaux à l’activité bancaire, vérifier des chambres fortes et des coffres et l’existence d’un système de sécurité, des équipements électroniques et des installations de communication adaptés à la catégorie de banque concernée. UMUTWE WA IV: URUHUSHYA N’IKIGUZI CYARWO N’IBINDI BISABWA CHAPTER IV: LICENCE, FEES AND OTHER REQUIREMENTS CHAPITRE IV: AGREMENT, FRAIS ET D’AUTRES CONDITIONS Ingingo ya 19: Ikiguzi cy’uruhushya rwo kwemererwa gukora n’icy’ibikorwa by’igenzura Banki nshyashya yishyura amafaranga y’ibanze y’ikiguzi cy’uruhushya rwo kwemererwa gukora angana na miriyoni eshanu z’amafaranga y’u Rwanda (5.000.000 FRW). Nyuma ya buri mwaka w’imari, buri banki ikorera mu Rwanda igomba kwishyura Banki Nkuru ikiguzi cy’ibikorwa by’igenzura kingana na 0.5% y’umusaruro mbumbe wa banki wabonetse mu mwaka w’imari ushize. Article 19: License and supervision fee Any newly licensed bank shall pay to the Central Bank a licence fee of five millions (5,000,000) Rwandan francs not later than one month after notification of the decision granting the licence. After each financial year, each bank operating in Rwanda shall pay to the Central Bank a supervision fee of 0.5% of the bank’s gross income generated in the previous financial year. This amount shall be paid within four (4) months after the end of the foregoing financial year. Article 19 : Frais de licence et de supervision Une banque nouvellement agréée doit payer les frais de licence de cinq millions (5.000.000) de francs rwandais dans un délai ne dépassant pas un mois après la notification de la décision d'octroi de l’agréement. Après chaque année d’exercice financier, chaque banque opérant au Rwanda doit payer à la Banque Centrale les frais de supervision de 0,5% du revenu brut de la banque généré pendant l’exercice financier précédent. Ce montant est payable dans les quatre (4) mois qui

Official Gazette no. 01 of 07/01/2019 28 Ayo mafaranga yishyurwa mu gihe cy’amezi ane (4) akurikira impera z’umwaka w’imari umaze kuvugwa hejuru. Uko byagenda kose, ikiguzi cy’ibikorwa by’igenzura kigomba kwishyurwa na banki hakurikijwe igika kibanziriza iki ntigishobora kujya munsi ya miliyoni eshanu (5.000.000) z’amafaranga y’u Rwanda. Kuri banki afite umusaruro mbumbe uri hejuru ya miliyari makumyabiri y’amafaranga y’u Rwanda (20.000.000.000FRW), ikiguzi cy’ibikorwa by’igenzura kibarwa ku ijanisha rya 0.5% kuri miliyari makumyabili za mbere, na ho ijanisha rya 0.05% rigakoreshwa ku mafaranga arenga kuri miliyari makumyabili za mbere. Muri iyi ngingo, umusaruro mbumbe ugizwe na: 1° Umusaruro nyawo uvanywemo inyungu (Umusaruro wose ukomoka ku nyungu hakuwemo inyungu zishyuwe); 2° Umufuragiro; 3° Umusaruro ukomoka ku bikorwa byerekeranye n’amadevize; In any case, the amount of the supervision fee payable under the preceding paragraph shall not be less than five million (5,000,000) Rwandan Francs. For banks that have gross income which is above twenty billions (20,000,000,000) Rwandan Francs, the supervision fee shall be calculated by applying 0.5% on the first 20 billion and 0.05% on any additional amount above 20 billion. For the purpose of this article, gross income include: 1° Net interest Income (Gross Interest income minus Interest Expenses); 2° Fees and commissions; 3° Foreign Exchange income; suivent la fin de l’exercice financier susmentionné. Dans tous les cas, le montant des frais de supervision payable par la banque en vertu du paragraphe précédent ne doit pas être inférieur à cinq millions (5.000.000) de francs rwandais. Pour les banques dont le revenu brut est au￾dessus de vingt milliard de francs Rwandais (20.000.000.000FRW), les frais de supervision sont calculés en appliquant le taux de 0,5% sur la première tranche de 20 milliards de Francs rwandais et le taux 0,05% sur toute somme supplémentaire au-dessus de 20 Milliards. Aux fins du présent article, le revenu brut comprend : 1° Revenu net d'intérêts (revenu brut d'intérêts moins les intérêts payés); 2° Frais et commissions; 3° revenus sur les opérations de change;

Official Gazette no. 01 of 07/01/2019 29 4° izindi nyungu hatabariwemo inyungu zidahoraho (nk’amafaranga akomoka kw’igurishwa ry’imitungo itimukanwa n’aturuka ku bikorwa by’ishoramari) n’inyungu zidakomoka ku bikorwa by’umwimerere wa banki (nk’ubukode n’impano). 4° Any other income less non￾recurrent income (such as gains on disposal of fixed asset or investment) and non-banking income (such as rental income or grant received). 4° tout autre revenu moins les revenus non récurrent (comme les gains provenant à la disposition des biens immobiliers ou provenant aux investissements) et les revenus provenant aux activités non bancaires (comme les loyers et les donations reçues). Ingingo ya 20: Igihe n’ishyirwa ahagaragara ry’uruhushya rwo gukora Uruhushya rutanzwe rugumana agaciro karwo kugeza igihe Banki Nkuru ivanyeho ako gaciro. Uruhushya rutanzwe hakurikijwe aya mabwiriza rusange rugomba, igihe cyose, kumanikwa ahantu hagaragarira bose ku cyicaro gikuru cya banki yaruhawe, kandi kopi zarwo na zo zikamanikwa muri ubwo buryo kuri buri biro by’amashami yayo. Article 20: Duration and display of license A licence granted shall remain valid unless revoked by the Central Bank. A licence granted shall, at all times, be displayed in a conspicuous place at the head office of the concerned bank, and copies of it shall be similarly displayed at each of its branch offices. Article 20 : Délai et affichage de la license L’agrément accordé reste valable jusqu’à ce qu’il soit révoqué par la Banque Centrale. Tout agrément accordé doit, en tout temps, être affiché dans un endroit remarquable par le public au siège de la banque concernée et des copies de l’agrément doivent être affichées de la même manière dans chacun des bureaux de ses branches. UMUTWE WA V: IBIRO BIHAGARARIYE BANKI Y’INYAMAHANGA CHAPTER V: REPRESENTATIVE OFFICE OF A FOREING BANK CHAPITRE V : DU BUREAU DE REPRESENTATION D’UNE BANQUE ETRANGERE Ingingo ya 21: Ishingwa ry’ibiro bihagariye banki Banki y’inyamahanga ishobora gushinga ibiro bihagariye banki mu Rwanda. Article 21: Establishment of representative office A foreign bank may establish a representation office in Rwanda. Article 21: Etablissement d'un bureau de représentation Une banque étrangère peut établir un bureau de représentation au Rwanda.

Official Gazette no. 01 of 07/01/2019 30 Kugira ngo, banki y’inyamahanga gushinga ibiro bihagariye banki mu Rwanda igomba kubisaba Banki Nkuru ikoresheje inyandiko isaba iri ku mugereka wa 2 w’aya mabwiriza rusange. Ubusabe bugomba kuba bukubiyemo inyandiko zikurikira: 1° Icyemezo cy’ubwishyu bw’amafaranga adasubizwa angana n’ibihumbi magana atanu y’amafaranga y’u Rwanda (500.000 FRW); 2° Inyandiko yujuje nk’uko igaragara ku mugereka wa 3 w’aya mabwiriza rusange; 3° Inyandiko y’umuntu ku giti cye yujuwe n’uhagariye ibiro nk’uko bitegangwa ku mugereka wa 4 w’aya mabwiriza rusange; 4° umwanzuro w’abagize inama y’ubutegetsi yemeza gushinga ibiro; 5° inyandiko y’umugenzuzi wa banki y’inyamahanga yemera inshigwa y’ibiro; A foreign bank that seeks to establish a representative office in Rwanda shall apply for authorization to the Central Bank using an application form as found on Appendix 2 of this regulation. Application shall include the following document: 1° a proof of payment of non-refundable application fee of FRW 500,000; 2° Filled information sheet as per Appendix 3 of this regulation; 3° Filled personal information sheet for the proposed country representative as per Appendix 4 of this regulation ; 4° A certified copy of the Board resolution of the applicant, to establish a representative office ; 5° no objection from the home supervisor accepting the establishment of a representative office; Une banque étrangère qui souhaite d’établir un bureau de représentation au Rwanda doit demander une autorisation à la Banque Centrale en utilisant un formulaire de demande prévu à l'annexe 2 du présent règlement. La demande doit inclure le document suivant: 1° une preuve de paiement des frais de dossier non remboursables de 500 000 FRW; 2° Formulaire rempli conformément à l'annexe 3 du présent règlement; 3° Une déclaration individuelle remplie par le représentant du bureau, conformément à l'annexe 4 du present règlement; 4° Une copie certifiée conforme de la résolution du conseil d'administration du requérant d'établir un bureau de représentation; 5° non objection de la part du superviseur d'origine acceptant l’établissement du bureau de représentation;

Official Gazette no. 01 of 07/01/2019 31 6° Aho banki y’inyamahanga ibarizwa n’uruhushya rwo gukora byibuze rumaze imyaka itanu; 7° Amategeko shingiro n’inyandiko y’ubwumvikane; 8° Izina ry’ibiro n’aho bizakorera mu Rwanda; 9° Icyemezo cy’ishingwa rya biro gitangwa n’Umwanditsi Mukuru mu Rwanda; 10°andi makuru Banki Nkuru yasanga ari ngombwa. 6° foreign bank address and valid business certificate and licence evidencing its lawful existence for at least 5 years; 7° foreign bank’s articles and memorandum of association; 8° intended name and location of the representative office in Rwanda; 9° Certificate of incorporation from office of Registrar General in Rwanda; 10° any other information that may be required by the Central Bank; 6° une adresse de banque étrangère, un certificat d’enregistement valide et un agrément banciare attestant son existence légale depuis au moins cinq (5) ans; 7° statuts et document de constitution de banque étrangère; 8° le nom et l'emplacement prévus du bureau de représentation au Rwanda; 9° Certificat de constitution du bureau du registraire général au Rwanda; 10° toute autre information pouvant être requise par la Banque Centrale; Ingingo ya 22: Uburenganzira n’inshingano by’ibiro bihagariye banki Uburenganzira n’inshingano bikomoka ku biro bihagariye banki, uko bibaho n’umutungo bikubiye muri banki y’inyamahanga. Article 22: Rights and obligation of the representative office The rights and obligations arising on representation office activities or resulting from its existence are included in the patrimony of the foreign bank. Article 22: Droits et obligations du bureau de représentation Les droits et obligations découlant des activités du bureau de représentation ou résultant de son existence sont inclus dans le patrimoine de la banque étrangère. Ingingo ya 23: Amategeko agenga ibiro bihagariye banki y’inyamahanga Ibiro bihagarariye banki y’inyamahanga bigengwa n’amategeko y’u Rwanda. Article 23: Law governing a representative office The representative office for foreign bank is subject to the Rwanda laws. Article 23: Loi régissant le bureau de représentation Le bureau de représentation de la banque étrangère est régi par le droit rwandais.

Official Gazette no. 01 of 07/01/2019 32 Ingingo ya 24: Ubunyanga mugayo n’ubushobozi bw’umuyobozi w’ibiro bihagarariye banki Uhagarariye ibiro bihagariye banki agomba kuzuza ibisabwa byerekeye ubunyangamugayo n’ubushobozi nk’uko biteganijwe mu mabwiriza rusange yerekeye imiyoborere y’amabanki. Article 24: Fit and proper requirements of the country representative The representative office’s country representative must satisfy the requirements of fitness and propriety as required by the regulation on corporate governance for banks. Article 24: Exigences d’integrité et de compétence du représantant du bureau de représentation Le représentant du bureau de représentation doit satisfaire aux exigences d’integrité de compéntence comme requis par le règlement sur la gouvernance des banques. Ingingo ya 25: Kwemererwa Mu gihe usaba yujuje ibisabwa, Banki Nkuru ishobora kwemerera banki y’inyamahanga gushinga ibiro biyihagariye mu Rwanda. Mu gihe Banki Nkuru itemeye ishingwa rya biro bihagariye banki, igomba kumenyesha impamvu z’icyo cyemezo. Article 25: Authorization Upon satisfaction that the applicant, meet all the requirements, the Central Bank may grant the authorization to the foreign bank to establish a representative office in Rwanda. If the Central Bank declinesthe establishment of the representative office, it shall inform the reasons to the applicant. Article 25: Autorisation Une fois que le requérant a satisfait à toutes les exigences, la Banque Centrale peut accorder l’autorisation à la banque étrangère d’établir un bureau de représentation au Rwanda. Si la Banque Centrale refuse l'établissement du bureau de représentation, elle en informe le requérant. Ingingo ya 26: Imirimo y’ibiro bihagarariye banki y’inyamahanga Ibiro bya banki y’inyamahanga bishobora gukora imirimo ikurikira: 1° guteza imbere serivisi mu Rwanda ibicishije mu kwamamaza no guhagarira banki y’inyamahanga; 2° guha icyicaro gikuru amakuru y’iterambere ry’ubukungu mu gihugu no mu karere; Article 26: Permissible activities of a representative office A Representative Office may engage in the following activities: 1° promoting its services in Rwanda through marketing and liaison role; 2° providing its Head Office with information regarding the economic developments in the country and region; Article 26: Activités permises á un bureau de représentation Un bureau de représentation peut exercer les activités suivantes: 1° promouvoir ses services au Rwanda par le marketing et la liaison; 2° fournir à son siège des informations sur l'évolution de la situation économique du pays et de la région;

Official Gazette no. 01 of 07/01/2019 33 3° guha abakiliya amakuru ajyanye n’isoko ryo mu gihugu; 4° gutanga amakuru ku bashaka gushora mu gihugu banki y’inyamahanga ikoreramo; 5° guha abakiriya serivisi za banki, iz’imari ndetse n’inama ariko atari ukwakira amafaranga ya rubanda; 6° guha abakiriya inyandiko z’ingenzi za banki y’inyamahanga mu koroshya ibikorwa ndetse no kwemeza umwimerere w’inyandiko na serivisi; 3° providing its customers with information regarding the local market; 4° providing information to any local party which intends to develop its activities in countries where the foreign bank operates in; 5° providing its customers with financial and other relevant advice but not deposit taking; 6° providing its customers with the requisite documentation as required by the foreign bank to facilitate transactions, as well as providing document authentication and validation services. 3° fournir à ses clients des informations sur le marché local; 4° fournir des informations à toute partie locale qui entend développer ses activités dans les pays où la banque étrangère exerce ses activités; 5° fournir à ses clients des conseils financiers et autres, 6° fournir à ses clients la documentation requise à la demande de la banque étrangère pour faciliter les transactions, ainsi que des services d'authentification et de validation de documents. Ingingo ya 27: Ibikorwa ibiro bihagarariye banki bitemerewe gukora Ibiro bihagariye banki ntibyemerewe gukora ibi bikurikira: 1° imirimo idateganijwe n’ingingo ya 27 y’aya mabwiriza rusange; 2° kwakira amafaranga yarubanda mu buryo ubwo ari bwo bwose; Article 27: Prohibited activities for the representative office A Representative Office operating in the Rwanda is prohibited from: 1° conducting any business activities other than those mentioned in Article 27 of this regulation; 2° accepting deposits in any form whatsoever; Article 27: Activités interdites au bureau de représentation Un bureau de représentation opérant au Rwanda est interdit de : 1° exercer des activités commerciales autres que celles mentionnées à l'article 27 du présent règlement; 2° accepter des dépôts sous quelque forme que ce soit;

Official Gazette no. 01 of 07/01/2019 34 3° kufungura konti z’abakiriya izo ari zo zose; 4° gutanga imyenda n’inguzanyo izo arizo zose; 5° gukora cyangwa kugira uruhare mu bikorwa bya banki nk’izizeza ingwate, gufunguza inyandiko zizeza ubwishyu mu izina ry’ibiro; no 6° gukora ibikorwa by’amadevisi n’imigabane. 3° opening accounts of any kind for clients; 4° extending loans or advances to any party whatsoever; 5° performing and/or participating in any other normal banking operations, such as issuing Letters of Guarantee, opening Letters of Credit, in its own name; and 6° dealing in foreign currencies and securities. 3° ouvrir des comptes de toutes sortes pour des clients; 4° consentir des prêts ou des avances à quelque partie que ce soit; 5° effectuer et / ou participer à toute autre opération bancaire ordinaire, telle que l'émission de lettres de garantie, l'ouverture de lettres de crédit, en son propre nom; et 6° vendre et acheter des devises et des valeurs mobilières. Ingingo ya 28: Ikiguzi cy’ibikorwa by’igenzura ry’ibiro bihagarariye banki y’inyamahanga Banki Nkuri igenzura ibiro bihagarariye banki y’inyamahanga kandi iyisaba amakuru ajyanye n’imirimo yayo. Nyuma ya buri mwaka w’imari, buri biro bihagarariye banki ikorera mu Rwanda igomba kwishyura Banki Nkuru ikiguzi cy’ibikorwa by’igenzura kingana n’amafaranga miliyoni ebyiri y’u Rwanda (2.000.000 FRW. Ayo mafaranga yishyurwa mu gihe cy’amezi ane (4) akurikira impera z’umwaka w’imari umaze kuvugwa hejuru. Article 28: Supervision and fee for the representative Office The Central Bank performs the supervision of the representative office and requests the submission of relavant information with regard its activities. After each financial year, each representative office operating in Rwanda shall pay to the Central Bank a supervision fee of 2 million FRW. This amount shall be paid within four (4) months after the end of the foregoing financial year. Article 28: Supervision et frais pour l’office de representation La Banque Centrale exerce une supervision sur le bureau de représentation et demande la transmission d’informations pertinentes sur ses activités. Après chaque exercice financier, chaque bureau de représentation opérant au Rwanda doit payer à la Banque Centrale les frais de supervision de 2 millions de FRW. Ce montant doit être payé dans les quatre (4) mois suivant la fin de l’exercice précédent.

Official Gazette no. 01 of 07/01/2019 35 UMUTWE WA VI: INGINGO ZINYURANYE N’IZISOZA CHAPTER VI: MISCELENEOUS AND FINAL PROVISIONS CHAPITRE VI: DISPOSITIONS DIVERSES ET FINALES Ingingo ya 29: Kubahiriza imari shingiro nshyashya Banki ifite uruhushya ariko idakwije ikigero cy’imari shingiro gishyashya gisabwa, igomba kuba yakigezeho mu bihe bigennye ku buryo bukurikira: 1° Miliyari 15 FRW mu gihe cy’imyaka itatu (3) ibarwa uhereye igihe aya mabwiriza rusange atangarijwe mu igazeti ya Leta; 2° Miliyari 20 FRW mu gihe cy’imyaka itanu (5) ibarwa uhereye igihe aya mabwiriza rusange atangarijwe mu igazeti ya Leta; Banki z’imari iciriritse ihawe igihe cy’imyaka itanu (5) ibarwa uhereye igihe aya mabwiriza rusange atangarijwe mu igazeti ya Leta, kugira ngo ihindure imikorere yubahiriza amategeko agenga ibigo by’imari iciritse cyangwa ikubahiriza ibikubiye muri aya mabwiriza. Banki ifite uruhushya rwo gukora itujuje imari shingiro isabwa ku munsi aya mabwiriza rusange atangarijweho mu Igaze ya Leta asabwe gushyikiriza Banki Article 29 : Compliance with the new minimum paid up capital A lincensed bank that do not comply with the new required minimum paid up shall meet it as follows: 1° Within (3) years after the publication of the regulation FRW15 Billion; 2° Within (5) years after the publication of the regulation FRW 20 Billion. Microfinance banks are also given a period of (5) years from the publication of this regulation to move to microfinance legal and regulatory framework or to comply with requirements of this regulation. Existing licensed banks that do comply with the minimum paid up capital at the time of the publication of this regulation in the Official Gazette Article 29: Conformité au nouveau niveau du capital minimum libéré La banque agréée qui ne se conforment pas au nouveau niveau du capal minimum libéré requis doivent l’atteindre dans les délais prescrits comme suit: 1° Dans les trois (3) ans suivant la publication de ce règlement, quinze (15) milliards de FRW; 2° Dans les cinq (5) ans suivant la publication de ce règlement, 20 milliards de FRW. Les banques de microfinance disposent également d'un délai de cinq (5) ans pour passer au cadre juridique et réglementaire de la microfinance ou pour se conformer aux exigences de ce réglement. Les banques agréées qui ne se conforment pas au niveau du capital minimum libéré au moment de la publication du présent règlement au Journal officiel doivent soumettre à la

Official Gazette no. 01 of 07/01/2019 36 Nkuru, mu gihe cy’amezi atanu (6) nyuma y’itangazwa ry’aya mabwiriza mu igazeti ya Leta, gahunda y’izamura ry’imari shingiro. shall submit to the Central Bank the buildup capital plan within six (6) months after the publication of this regulation in the Official Gazette. Banque Centrale leur plan de constitution de capital dans les six mois suivant la publication du présent règlement au Journal officiel. Ingingingo ya 30: Kubahiriza ibisabwa byerekeye impamyabushobozi n’uburambe Abakozi bakuru basanzwe mu mirimo bagomba kubahiriza ibisabwa byerekeye impamyabushobozi n’uburambe bisabwa muri aya amabwiriza mu gihe cy’imyaka itanu (5) kuva aya mabwiriza rusange atangarijwe mu igazeti ya Leta. Article 30: Compliance with the minimum professional qualification and experience for senior managers Existing senior managers that do not comply with the professional qualification and experience requirements provided in this regulation are given five (5) years to comply with them from the publication of this regulation in the Official Gazette. Article 30: Conformité des qualifications professionnelles et de l'expérience minimales des cadres dirigeants Les cadres dirigeants existants qui ne se conforment pas aux exigences de qualification professionnelle et d'expérience prevues dans le présent règlement disposent d'un délai de cinq (5) ans pour s'y conformer à compter de la publication de ce règlement au Journal Officiel. Ingingo ya 31: Gutanga amakuru agezweho Buri banki ishyikiriza Banki Nkuru ifishi y’amakuru, urupapuro rw’imenyekanisha rw’umuntu ku giti cye kuri buri wese mu bafite imigabane igaragara yaba mu buryo buziguye cyangwa butaziguye, abari mu nama y’ubutegetsi, abayobozi bakuru mu gihe kitarenze ku itariki ya 31 Werurwe ya buri mwaka. Article 31: Update of information Every bank shall submit to the Central Bank an updated information sheet, the personal information sheet for each direct and indirect significant shareholder, directors and senior managers not later than the 31st March of each year. Article 31: Mise à jour des informations Chaque banque soumet à la Banque Centrale, au plus tard le 31 Mars de chaque année, une fiche d'information à jour, la fiche d'informations personnelles de chaque actionnaire important direct et indirect, administrateurs et dirigeants. Ingingo ya 32: Kubahiriza amategeko n’amabwiriza Banki yahawe uruhushya rwo gukora igomba kubahiriza amategeko, amabwiriza rusange, amabwiriza n’ibyemezo bigenga amabanki. Article 32: Compliance with existing banking regulations and directive After being licensed, a bank shall comply with all laws, regulations and directives applicable to banks. Article 32: Conformité aux lois et règlementations bancaires en vigueur Dès l’obtention de l’agrément, la banque doit se conformer à toutes les lois, réglementations et directives applicables aux banques.

Official Gazette no. 01 of 07/01/2019 37 Ingingo ya 33: Ivanwaho ry’ingingo zinyuranyije n’aya mabwiriza Amabwiriza rusange N° 03/2008 yerekeye ibisabwa mu kwemerera amabanki gukora nk’uko yahinduwe kandi akuzuzwa kugeza ubu, n’izindi ngingo zose zayabanjirije kandi zinyuranye na yo bivanyweho. Article 33: Repealing provisions The regulation N° 03/2008 on licensing conditions of banks as modified and complimented to date and all previous provisions contrary to this Regulation are hereby abrogated. Article 33: Provisions abrogatoires Le règlement N° 03/2008 portant conditions d’agrèment des banques tel que modifié et completé à ce jour et toute autre disposition contaires sont abrogés. Ingingo ya 34: Itegurwa, isuzumwa n’iyemezwa ry’aya mabwiriza rusange Aya mabwiriza rusange yateguwe, asuzumwa kandi yemezwa mu rurimi rw’Icyongereza. Article 34: Drafting and consideration of this Regulation This Regulation was prepared, considered and approved in English Article 34: De l’initiation, examen et approbation Le présent règlement a été initié, examiné et approuvé en langue anglaise. Ingingo ya 35: Igihe aya mabwiriza rusange atangira gukurikizwa Aya mabwiriza rusange atangira gukurikizwa ku munsi atangarijweho mu Igazeti ya Leta ya Repubulika y’u Rwanda. Article 35: Commencement This regulation shall take effect on the date of its publication in the Official Gazette of the Republic of Rwanda. Article 35: Entrée en vigueur Le présent règlement entre en vigueur le jour de sa publication au Journal Officiel de la République du Rwanda. Bikorewe i Kigali ku wa 27/12/2018 (sé) RWANGOMBWA John Guverineri Done at Kigali on 27/12/2018 (sé) RWANGOMBWA John Governor Fait à Kigali le 27/12/2018 (sé) RWANGOMBWA John Governeur

Official Gazette no. 01 of 07/01/2019 38 Appendix 1: Categories of banks and their respective activities No Category Permitted activities 1 Commercial Bank  Activities provided in Article 3 of the banking law and other services and operations to the banking main business;  Other activities and operations approved by the Central Bank 2 Mortgage banks  Receiving deposits of participation in mortgage loans and in special accounts;  Granting of loans for the acquisition, construction, enlargement, repair, improvement and maintenance of urban or rural real estate, and for the substitution of mortgages taken out for that purpose;  Giving of guarantees, bonds or other forms of collateral connected with the operations in which they may take part;  Obtaining of foreign loans and acting as intermediary in loans extended in local and foreign currency, having the previous authorization of the Central Bank for such loans exceeding a specified limit as prescribed by the Central Bank.  Other activities and operations approved by the Central Bank 3 Cooperative banks  Activities provided in Article 3 of the banking law and other services and operations to the banking main business;  Only deals with its members and their related parties  Other activities approved by the Central Bank Prohibitions:  Not deal with general public in its business 4 Development banks  Funds mobilization for development financing;  Financing (by way of grant, loan, equity, guarantee or otherwise) Development Projects and Programmes and infrastructures;  Grant Retail Loans in respect of Development Projects and Programmes;  Hold, manage, develop, let, hire, buy, subscribe for, or otherwise acquire, sell or otherwise dispose of, hypothecate or otherwise deal in, any immovable or moveable property in respect of the financing of Development Projects and Programmes (including stocks, shares, bonds, debentures, debt obligations, and securities of, or any other interest in, any company, government or other legal entity);  Guarantee any undertaking or obligation of any nature given by any person in relation to any Development Projects or Programmes;  Offer and provide trade finance;  Financing production value chain, offer and provide seasonal financing of coffee campaigns and other export promotion commodities;

Official Gazette no. 01 of 07/01/2019 39  Make, draw, accept or endorse negotiable instruments;  Invest funds in term deposits or other certificates of deposit in licenced banks;  Trade foreign exchange with regulated financial institutions;  Trade commodities;  Act as an agent or trustee, manager or secretary of any person, national or international private or public body and appoint any person to act on behalf of the Development Bank as a director or in any other capacity in relation to such person, private or public body;  Provide technical and other assistance and give advice, information and guidance, and, generally, enter into any contract or perform any act which may promote the attainment of any of the objects of the Development Bank or which is designed to directly or indirectly enhance the value of the services which the Development Bank can render; and/or  Undertake such other activities as may be prescribed or approved by the Central Bank from time to time. Prohibitions  Acceptance of demand, savings and time deposits, or any type of public deposits;  Acting as an intermediary on the Stock Exchange;  Save , granting of Retail Loans such as personal loans, salary advances (other than to its own members of staff to the extent permitted by applicable law), overdrafts etc;  Use of financial derivative instruments except as hedging instruments in the ordinary and usual course of the Development Bank’s activities; and/or  Such other activities as shall not fall within the scope of the permitted activities

Official Gazette no. 01 of 07/01/2019 40 Appendix 2: Application for a licence to establish a bank/representative office The Governor, Central Bank of Rwanda P.O Box 531, KIGALI

1. I, the undersigned, acting as principal/promoter/in the capacity of duly authorised agent, on behalf of …………………………, a Company incorporated under the company law, Laws of ……. , hereby apply for a licence for conducting the banking activities as (category of bank) or establishing the representative office, pursuant to provisions of the law governing the organization of banking and the regulation ………. on.licensing conditions of banks.
2. I submit the documentation specified in the law governing the organization of banking activity and the Regulation on licensing conditions of banks. Applicant’s address/ Tel. Principal’s address/Tel. …………………………… ……………………......….. …………………………… ……………………......… Certification and Undertaking I, the undersigned, …………………………….. hereby certify that all information contained in and accompanying this application is complete and accurate to the best of my knowledge and belief. I undertake to forthwith notify the Central Bank, of any material change in the particulars of this application. Sworn at …………….. this …......day of …………………20……

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Signature of Deponent Principal/ Promoter/Agent Deponent understands the contents of this declaration. Before me,

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NOTARY

Official Gazette no. 01 of 07/01/2019 41 APPENDIX 3: INFORMATION SHEET QUESTIONNAIRE (FOR APPLICANT AND HOLDER OF 5% OF SHARES IF CORPORATE) EITHER DIRECTLY OR INDERECTLY

1. Name: ………………………………………………………………………………………………… ………………………………………………………………………………………………… …………
2. Former name(s)(if any) by which the applicant has been known: ………………………………………………………………………………………………… …………………………………………………………………………………………………
3. Any name the applicant proposes to use for purposes of or in connection with any business carried on by it, including any name the applicant is or will be obliged to disclose in connection with any business carried on by it by virtue of the company law …………………………………………..…………………………………………………………. …..………………………………………………………………………………………………….
4. Principal Banking Activities. ………………………………………………………………………………………………… …………………………………………………………………………………………………
5. Head/main office: …………………………………..……………………………………………………………. ………………………………………………………………………………………………… (a) Address: ………………………………………………………………………………………………….. …………………………………………………………………………………………………... (b) Telephone No: ………………………………………………………………………………..………………. ………………………………………………………………………………………………… (c) Telefax No: …………………………………………………………………………………….................. ………………………………………………………………………………………………
6. Branches: Address: Date approved and date opened

…………………………… ………………………………………………….. …………………………… …. ………………………………………………. Subsidiaries & Affiliates: Name and type of Amount of shares % of shares held Business held to total ……………………… …………………… …………………… ……………………… …………………… …………………… 7. Management: (1) Board of Directors; Name: Designation Present term No. of years as board member …………… …………… …………… ……………… …………… …………… …………… ……………… …………… …………… …………… ………………

Official Gazette no. 01 of 07/01/2019 42 Board Committees Name and purpose of committee(s): Name of members: ………………………………… …………………………. ………………………………… …………………………. ………………………………… …………………………. (2) Senior managers: Name: Position: No. of years as officer ………………… ………………… ……………………… ………………… ………………… ……………………… ………………… ………………… ……………………… 8. Ownership Profile: Name Country of Residence Paid up capital % citizenship

1. ………… ……………… …………… ……………… ………
2. ………… ……………… …………..… ……………… ………
3. ………… ……………… …………..… ……………… ………. other shareholders owing less than 5% (Number………………) TOTAL ……………… ………..
4. Organisation Profile: (1) Organisation chart— attach one indicating major departments or divisions with names, positions and titles of senior managers heading each department or division. (2) Functions— attach a list of functions or responsibilities for each Department or division listed in the organisation chart indicating the number of personnel or staff for each. (3) Qualifications of significant shareholders, directors and senior managers. (4) Powers and purposes—attach the latest copies of the Memorandum and Articles of Association if not previously submitted to the Central Bank.
5. Shareholding in any other Financial Institution: Name of financial shares owned % of Institution amount number capital …………………… ………………… …………… …………………… ………………… …………… …………………… ….. ………… ……………
6. Name(s) and address(es) of the applicant’s bankers within the last ten years. (Please also indicate the applicant’s principal bankers)……………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… ……
7. Name and address of the applicant’s external auditors. Please give particulars of any body you may have given authority to carry on any business activity in Rwanda or elsewhere. If any, give particulars. If any such authority has been revoked, give particulars, including the name and professional qualification of the partner’s who will be responsible for the assignment

Official Gazette no. 01 of 07/01/2019 43 ………………………………………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… 13. Does the applicant hold, or has it ever held, any authority from a supervisory body to carry on any business activity in Rwanda or elsewhere? If so, give particulars. If any such authority has been revoked, give particulars.…………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… 14. Has the applicant ever applied for any licence from a supervisory body to carry on any business in Rwanda or elsewhere other than the authority mentioned in answer to Question 13 ? If so, give particulars. If any such application was for any reason refused or withdrawn after it was made, give particulars………………………………………………………………………….. ………………………………………………………………………………………………… ………………………………………………………………………………………… 15. Has the applicant or any company in the same group within the last ten years failed to satisfy a judgement debt under a court in Rwanda or elsewhere within a year of the making of the Order? If so, give particulars……………………………………………………………………………….. ………………………………………………………………………………………………… ………………………………………………………………………………………………… 16. Has the applicant or any company in the same group made any compromise or arrangement with its creditors within the last ten years or otherwise failed to satisfy its creditors in full? If so, give particulars ………………………………………….………………………………….... ………………………………………………………………………………………………… ………………………………………………………………………………………………… 17. Has a receiver or an administrative receiver of any property of the applicant or any company in the same group been appointed in Rwanda, or has a substantial equivalent of any such person been appointed in any other jurisdiction, in the last ten years? If so, give particulars, including whether the receiver is still acting under the appointment………………………………………………………….. …………………………………………………………………………………………………………. …………………………………………………………………………………………………………. 18. Has a petition been served in Rwanda for an administrative order in relation to the applicant or company in the same group, or has the substantial equivalent of such a petition been served in any other jurisdiction, in the last ten years? If so, give particulars………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… 19. Has a notice of resolution for the voluntary liquidation of the applicant or any company in the same group been given in Rwanda, or has the substantial equivalent of such a petition been served in any other jurisdiction, in the last ten years? If so, give particulars……………………………………. …………………………………………………………………………………………………………. …………………………………………………………………………………………………………. 20. Has a petition been served in Rwanda for the compulsory liquidation of the applicant institution or any company in the same group, or has the substantial equivalent of such a petition been served in any other jurisdiction, in the last ten years?. If so, give Particulars………………................................ …………………………………………………………………………………………………………. …………………………………………………………………………………………………………. 21. State whether the applicant company has ever been under any criminal investigation, prosecution disciplinary action(s), public criticism or trade sanctions in connection with banking and financial services in Rwanda or elsewhere………………………………………………………………………………… ………………………………………………………………………………………………………….

Official Gazette no. 01 of 07/01/2019 44 22. Are there any material matters in dispute between the applicant institution and the Rwanda Revenue Authority or any equivalent taxation authority in any other jurisdiction? If so, give particulars…………………………………………………..………………………………………….. …………………………………………………………………………………………………………. …………………………………………………………………………………………………………. 23. Is the applicant or any company in the same group engaged, or does it expect to be engaged, in Rwanda or elsewhere in any litigation which may have a material effect on the resources of the institution? If so, give particulars………………………………………………………………….. …………………………………………………………………………………………………………. …………………………………………………………………………………………………………. 24. Is the applicant company engaged, or does it expect to be engaged, in any business relationship with any of its (prospective) directors, officers or managers? If so, give particulars…………………………………………………………………………………………….. ….…………………………………………………………………………………………………….. ………………………………………………………………………………………………………… 25. Is the business of the applicant’s directors, officers or managers or of companies in the same group guaranteed or otherwise underwritten or secured, or expected to be guaranteed or underwritten or secured, by the applicant company? If so, give particulars…………………………………………. ………………………………………………………………………………………………………….. …………………………………………………………………………………………………………. 26. Please provide any other information which may assist the Central Bank in reaching a decision on the application……………………………………………………………………….............................. ………..………………………………………………………………………………………………... …………………………………………………………………………………………………………. DECLARATION We certify that we have read sections, chapter II of the law governing banking activity. We are aware that it is an offence under the terms of article 65 of the law governing banking activity knowingly or recklessly to provide to the Central Bank or any other person any information which is false or misleading in a material particular in connection with the application for a licence under this law or otherwise. We, certify that all the information contained in and accompanying this form is complete and accurate to the best of our knowledge, information and belief and that there are no other facts relevant to this application of which the Central Bank should be aware. We undertake to inform the Central Bank of any material changes to the application which arises while the Central Bank is considering the application. We recognise the institution’s obligation to provide the Central Bank with any information in its possession relevant to the exercise by the Central Bank of its functions under the law governing banking activity, in relation to the institution. Consistent with this obligation, we undertake that, in the event that the institution is granted a licence under the law governing banking activity, we will notify the Central Bank of any material changes to, or affecting the completeness or accuracy of, the answers to the questions above as soon as possible, but in any event no later than twenty one days from the day that the changes come to our attention. Sworn at Kigali this …………………day of ………………………

1. ………………………… ……………………………… Name Position held ………………………… ……………………………… Signed Date
2. ………………………… ……………………………… Name Position held ………………………… ………………………………

Official Gazette no. 01 of 07/01/2019 45 Signed Date

---

The Deponent understands the contents of this affidavit. Before me………………………………… THE NOTARY N:B:

1. All sections of this form must be filled.
2. If any space provided is inadequate, the required information or data needed may be supplied as an attachment.
3. All attachments should be labelled using the relevant section requiring the attachment

Official Gazette no. 01 of 07/01/2019 46 APPENDIX 4: PERSONAL DECLARATION FORM [For individuals who are, or are proposing to become directors, senior managers, significant shareholders of a bank and indirect owners of at least 5% of the bank] Name and capacity of person making this declaration:

1. Name of institution in connection with which this form is being filled (―the institution‖) …….......................................................................................................................................... …………………………………………………………………………………………………
2. Full names:………………………………….……………………………………………………
3. Former surname(s) and /or forenames by which you may have been known: …………………………………………………………………………………………………… …………………………………………………………………………………………………
4. Please state the capacity under which you are completing this form, i.e. as a current or prospective direct or indirect significant sharehoholder, director, senio manager or any combination of these. Please state your full title and describe the particular duties and responsibilities attaching to the position(s) which you hold or will hold. If you are completing this form in the capacity of director, indicate whether, in your position as director, you have or will have executive responsibility for the management of the institution’s business. ………………………………………………………………………………………………… ………………………………………………………………………………………………… …………………………………………………………………………………………………
5. Your date and place of birth: ………………………………………………………………………………………………… …………………………………………………………………………………………………
6. (1) Citizen of:………………… (2) Resident of:…………… (Country) (Country) since: ………………………… since:……………………… (Year) (Year)
7. Addresses: (1) Present business address (Rwanda since……………) (Outside Rwanda since...……) ……………………………… …………………………… ……………………………… …………………………… (2) Present residential address: (Rwanda since…………...…) (Outside Rwanda since………)

(3) Last two addresses in Rwanda, if any, during the past ten (10) years: (since………………………) (since………………………) ……………………………… …………………………… ……………………………… …………………………… 8. Professional & academic qualifications: Particulars Year obtained ……………………………… …………………………… ……………………………… …………………………… ……………………………… …………………………… (1) Highest academic qualification ……………………………… …………………………… ……………………………… ……………………………

Official Gazette no. 01 of 07/01/2019 47 (2) Special awards or honours (if any) ……………………………… …………………………… ……………………………… …………………………… (3) Training courses and seminars ……………………………… …………………………… ……………………………… …………………………… (4) Membership in professional organizations ……………………………… …………………………… ……………………………… …………………………… 9. Occupation or employment (present or most recent and for the past ten years) Inclusive date (month &year) Name & business of employer Positions held From Year ……………………………… ……………… ……...……… ……………………………… ……………… ……...……… 10. Names and address (es) of your bankers within the last 10 years ………………………………………………………………………………………………. ………………………………………………………………………………………………… ………………………………………………………………………………………………… 11. Bodies corporate (other than the institution) where you are now a director, officer, shareholder, or manager? Give relevant dates…………………………………………………….... ……………………………………..…………………………………………………………… …...……………………………………………………………………………………………… 12. Bodies corporate other than the institution and those listed above where you have been a director, shareholder, controller or manager at any time during the last ten years. Give relevant dates…………………………………………………………………………………………….. …………………………………………………………………………………………………… …………………………………………………………………………………………………… 13. Have you, in Rwanda or elsewhere, been dismissed from any office or employment, or subjected to disciplinary proceedings by your employer or barred from entry to any profession or occupation? If so, give particulars:…………………………………………………………………. ………………………………………………………………………………………………… ………………………………………………………………………………………………… 14. Past and present business affiliations (direct and indirect): Nature of affiliation i.e. director, senior manager, share Inclusive date holder with…% holdings (month and year) specified etc. from to Nature of business …………………… …………… ……………… …………………… …………… ……………… 15. Do any of the above business affiliations maintain a business relationship with the institution? If so, give particulars……………………………………………………………………………… ……………………………………………………………………………………………………. 16. Do you hold or have you ever held or applied for a licence or equivalent authorisation to carry on any business activity in Rwanda or any other country? If any such application was refused or withdrawn after it was made or any authorisation was revoked, give particulars: …………………………………………………………………………………………………….. …………………………………………………………………………………………………….

Official Gazette no. 01 of 07/01/2019 48 17. State whether the institution with which you are, or have been, associated as a director, officer, shareholder or manager holds, or has ever held or applied for a licence or equivalent authorisation to carry on any business activity? If so, give particulars. If any such application was refused, or was withdrawn after it was made or any licence revoked, give particulars ……………………………………………… ….………………………………………………………………………………………………………… 18. State whether any of your past or current employer(s) or institution in which you were affiliated as shareholder, director, officer, etc has ever been under criminal investigation, placed under receivership or insolvent liquidation by any regulatory body or court of law …………….………………………………………………………………………………………………… ……………………………………………………………………………………………………. 19. Family group:

Name: (1) Spouse: ………………………… (If you have any business relationship, please indicate( company, partnership,…………..) (2) Children: ………………………… ………………………… If you have any business relationship, please indicate (company, partnership…) (3) Parents: ………………………… If you have any business relationship, please indicate (company, partnership…) (4) Brothers and sisters: ……………………………………………………………… ………………………………………………………………. ………………………………………………………………. If you have any business relationship, please indicate (company, partnership…) 20. Have you failed to satisfy any debt adjudged due and payable by you as a judgment debtor under an order of a court in Rwanda or elsewhere, or made any compromise arrangement with your creditors within the last ten years? If so, give particulars……………………………….. ………………………. ………….……………………………………………………………………………………… ………………………………………………………………………………………………… 21. Have you been adjudicated bankrupt by a court in Rwanda or elsewhere, or has a bankruptcy petition ever been served on you? If so, give particulars………………………………………………….. ……………………………………………………………………………………………………. ……………………………………………………………………………………………………. 22. Have you, in connection with the formation or management of any body corporate, partnership or unincorporated institution, been adjudged by a court in Rwanda or elsewhere, civilly liable for any fraud, misfeasance or other misconduct by you towards such body or company or towards members thereof? If so, give particulars …………………………………………………………………………………………………………… …………………….…………………………………………………………………………………… ………………………………………………………………………………………………………… 23. Has any body corporate, partnership or unincorporated institution with which you are associated as a director, shareholder, controller or manager, in Rwanda or elsewhere, been wound up, made subject to an administrative order, otherwise made any compromise or arrangement with its creditors or ceased trading either while you were associated with it or within one year after you ceased to be associated with it or has

Official Gazette no. 01 of 07/01/2019 49 anything analogous to any of these events occurred under the laws of any other jurisdiction? If so, give particulars………………….. ………………………………………………………………………………………………… ………………………………………………………………………………………………… 24. Have you been concerned with the management or conduct of affairs of any institution which, by reason of any matter relating to a time when you were so concerned, has been censured, warned as to future conduct, disciplined or publicly criticized by, or made the subject of a court order at the instigation of any regulatory authority in Rwanda or elsewhere? If so, give Particulars ……………………………….………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… 25. In carrying out your duties will you be acting on the directions or instructions of any individual or institution? If so, give particulars…………………………………………….………………………… ………………………………………………………………………………………………………….. ………………………………………………………………………………………………………….. 26. Do you, in your private capacity, or does any related party, undertake business with the institution? If so, give particulars…………………………………………………………………………………….. ………………………………………………………………………………………………………….. ………………………………………………………………………………………………………….. 27. How many shares in the institution are registered in your names or the names of a related party? If applicable, give name(s) in which registered and class of shares…………………………………. ……………………………………………………………………………………………………….. ……………………………………………………………………………………………………….. 28. In how many shares in the institution (not being registered in your names or that of a related party) are you or any party beneficially interested? ……………………………………………………………………………………………………….. ……………………………………………………………………………………………………….. 29. Do you or does any related party, hold any shares in the institution as trustee or nominee? If so, give particulars ………………………………………………………………………………………… …………………………………………………………….…………………………………………… 30. Are any shares in the institution mentioned in answer to questions 27,28, and 29 above equitably or legally charged or pledged to any party? If so, give particulars……………………………………….. …………………………………………………………………………………………………………. …………………………………………………………………………………………………………. 31. What proportion of the voting power, at any general meeting of the institution (or another body corporate of which it is a subsidiary) are you or any related party entitled to exercise or control the exercise of ? ………………………………….………………………………………………………………………. ………………………………………………………………………………………………………….. 32. Personal record of court cases or any investigation by governmental, professional or any regulatory body (including pending and prospective cases or on-going investigations): Name of court or Full particulars Status investigative body ……………………………………………………………………………………………….................. ……………………………………………………………………………….…………………………. 33. Documentary requirements (to be attached to this individual information sheet)

1. a certified statement of assets and liabilities;
2. latest tax compliance certificate or certified true copy of income tax returns;
3. two letters of character references from individuals other than relatives who have personally known the undersigned for at least ten years; and

Official Gazette no. 01 of 07/01/2019 50 4) letters, duly certified from financial institutions with whom the undersigned has had dealings for the last five years on the performance of past and present accounts; 5) Detailed CV; 6) Certified true copies of degree certificates; 7) Recent Credit report from a licensed credit bureau; 8) Copy of ID/passport; 9) A recent police clearance/criminal certificate. 34. If this questionnaire is submitted in connection with an application for licensing, please provide any other information which may assist the Central Bank in reaching a decision on the application. In any other case, please provide any other information, which may assist the Central Bank in deciding whether the director, shareholder, controller or manager fulfils fit and proper criteria. Appendix 5: Declaration of Significant Individual and institutional shareholder of the source of funds I (Individual significant shareholder or a representative of the institutional significant shareholder),…………………declare that capital invested in the proposed bank is not derived from illegal , criminal and suspicious activities. I know and understand the contents and consequences thereon of this declaration and that I am making it under oath. Sworn at ………………, this ……………day of ………………………………………….. Signature of deponent The Deponent understands the contents of this affidavit. Before me, …………………………………… THE NOTARY

Official Gazette no. 01 of 07/01/2019 51 APPENDIX 5: DECLARATION BY THE CHAIRPERSON OF A BOARD ON APPOINTMENT OF A NEW DIRECTOR I, the undersigned, (name) ……………………, being the Chairperson of the board of directors of ………………………, confirm that I have carefully studied all the information supplied in the personal declaration form and, after discussion with the deponent (name)………………… and all other members of the board, and after having taken into account any other information at my disposal or that has come to my attention, I am of the opinion that the deponent (name) ……………………………… is a fit and proper person to take up office in this institution. In the case of the appointment of a director I confirm that the appropriate conditions of the Articles of Association of the company have been complied with. Similarly, in the case of the appointment of a chief executive officer, I confirm that the company policy has been complied with. NAME: ……………………………………………………… SIGNATURE: ……………………………………………………… DATE: ………………………………………………………