Instruction N°021 /DGSIF/DSB/14 of 13/05/2014 Regarding the Reference Shareholder

Conakry, May 13, 2014

REPUBLIC OF GUINEA
CENTRAL BANK

INSTRUCTION N°021 /DGSIF/DSB/14 OF 13/05/2014 REGARDING THE REFERENCE SHAREHOLDER

..........................................

THE GOVERNOR,

• Having regard to Ordinance O/2009/046/CNDD of February 07, 2009, on the statutes of the Central Bank of the Republic of Guinea,
• Having regard to Law L/2013/060/CNT of August 12, 2013, on Banking Regulation in the Republic of Guinea,
• Having regard to Decree D/2010/010/PRG/SGG of December 27, 2010, on the appointment of the Governor of the Central Bank of the Republic of Guinea,

DECIDES

Article 1: This instruction sets out the terms of application of Article 54 of the Banking Law.

Article 2: Any credit institution, to be approved in the "Bank" category referred to in Article 15 of the Banking Law, must have at least one "Reference Shareholder" which is a Bank.

This Reference Shareholder must hold at least twenty percent of the institution's capital.

Article 3: For Banks that are subsidiaries of a financial Holding company, the Holding company must be subject to prudential supervision on a consolidated basis to be a Reference Shareholder.

Article 4: The Reference Shareholder must be a recognized Bank, subject to a Banking Supervisory Authority, having the capacity to provide its expertise in governance and banking operations, and willing to provide funds if necessary.

P.O. Box N° 692 - Conakry - Telephone: (224) 30 41 26 51. - Telefax: (224) 30 41 48 98 Telex: 22 225 BAREG - GE

It is required to communicate annually to the Central Bank of the Republic of Guinea the certified statements of its annual accounts.

Article 5: The Reference Shareholder must send to the BCRG an authentic instrument determining its commitment.

Article 6: Credit institutions are required to scrupulously comply with the provisions of this instruction.

Article 7: This instruction takes effect from its date of signature and will be published wherever necessary.

[Stamp and signature]

Dr Louncény NABE