Regulatory Alerts2013-01-10
Added · Updated
Instruction No. 0010 on the Minimum Capital of Microfinance Institutions
The Central Bank of the Congo sets the minimum capital for Microfinance Institutions at the equivalent of USD 100,000 for first and second category microcredit enterprises and USD 350,000 for microfinance societies, effective January 1, 2013. These amounts increase to USD 250,000 and USD 700,000 respectively, effective January 1, 2017. Existing institutions with insufficient basic own funds and those awaiting legal personality have a one-year transitional period to adjust their capital. The Central Bank reserves the right to require higher capital during approval based on projected activities.
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