Instruction No. 033/DGSIF/DSB on Public Disclosure of Credit Institution Operational Conditions

Conakry, December 2, 2014

REPUBLIC OF GUINEA
CENTRAL BANK

INSTRUCTION NO. 033/DGSIF/DSB of December 2, 2014 REGARDING THE PROCEDURES BY WHICH CREDIT INSTITUTIONS MUST MAKE KNOWN TO THE PUBLIC THE CONDITIONS THEY APPLY TO THEIR OPERATIONS

THE GOVERNOR,

Having regard to Law L/2014/016/AN of July 2, 2014 establishing the Statute of the Central Bank of the Republic of Guinea;

Having regard to Law L/2013/060/CNT of August 12, 2013 on Banking Regulation;

Having regard to Decree D/2010/010/PRG/SGG of December 27, 2010 appointing the Governor of the Central Bank;

DECIDES

Article 1: Credit institutions are required to make available to the public, across all their branches and counters, all information concerning the conditions they apply to their operations.

They must, furthermore, ensure that this information is made available to the public through their agents.

Article 2: Public information must be provided at least on paper and by display within the premises of credit institutions. The information must be legible, and the selected media must be placed in areas easily accessible to customers.

Information published by display must cover, at a minimum, the conditions applicable to basic banking operations.

Article 3: Information media must clearly indicate the descriptions of services offered, corresponding pricing, and applicable value dates.

Article 4: Information media must highlight the methods for collecting interest and commissions, as well as the specific conditions under which they apply.

Article 5: Information media must clearly indicate whether applied pricing is exclusive or inclusive of taxes.

They must also specify whether operations entail, in addition to interest and commissions, the collection of actually incurred fees (postage, telephone, fax, etc.), which must be recovered identically.

P.O. Box No. 692 - Conakry - Telephone: (+224) 30 41 26 51 - Telefax: (+224) 30 41 48 98 Telex: 22 225 BAREG - GE

Article 6: Modifications to conditions applied to banking operations must be brought to the attention of clients before their effective application.

Article 7: Credit institutions are required to submit to the Central Bank of the Republic of Guinea (BCRG), no later than January 31 of each year, a detailed list of the conditions they apply to their operations.

Any modification to these conditions must also be communicated to the Central Bank of the Republic of Guinea (BCRG).

Article 8: This instruction takes effect from its date of signature and will be published as needed.

[Signature and seal]

Dr. Louncény NABE