Regulatory Alerts2023-07-04
Added · Updated
Instruction No. 007 on Corporate Governance of Microfinance Institutions (Modification No. 1)
The Central Bank of Congo mandates prudential corporate governance rules for credit establishments, microfinance companies, and micro-credit enterprises. The regulation defines key governance roles, including the General Assembly, the Deliberative Body, and specialized committees (audit, risk, ethics/compliance). It requires microfinance entities to appoint at least three independent directors, establish specific organizational structures, and implement formal procedures for director selection, remuneration, and conflict of interest prevention.
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