Regulatory Alerts2022-01-01
Instruction No. 2022-03/IMF on the Opening and Closure of Branches, Agencies, or Service Points of Microfinance Institutions
The Central Bank of Djibouti issued Instruction No. 2022-03/IMF to mandate that microfinance institutions obtain prior authorization for opening or closing branches, agencies, or service points. The regulation establishes minimum operational standards, requiring institutions to implement organizational measures for fund management, prohibit closure-related fees for clients, provide 45 days of written client notification and public press announcements, and subject all closures to internal audit. Additionally, the instruction sets strict physical and security requirements for agency locations and grants a one-year compliance window for pre-existing branches.
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