Instruction No. 096/DGSIF/DSB of July 16, 2021 on Implementing Decision No. D/2021/014/CAM Fixing the Minimum Share Capital for 'Bank' Category Credit Institutions

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Conakry, July 16, 2021

INSTRUCTION NO. 096/DGSIF/DSB OF JULY 16, 2021 ON THE IMPLEMENTATION MODALITIES OF DECISION NO. D/2021/014/CAM OF JULY 7, 2021 FIXING THE MINIMUM SHARE CAPITAL OF CREDIT INSTITUTIONS IN THE « BANK » CATEGORY

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THE APPROVAL COMMITTEE,

Whereas, Law No. L/2017/017/AN of June 8, 2017, repealing Law No. L/2016/AN of November 9, 2016, itself amending Law No. L/2014/016/AN of July 2, 2014 establishing the Statute of the Central Bank of the Republic of Guinea;

Whereas, Law No. L/2013/060/CNT of August 12, 2013 on Banking Regulation, particularly Article 53;

Whereas, Decree No. D/2010/010/PRG/SGG of December 27, 2010 appointing the Governor of the Central Bank;

Whereas, the Minutes of the 55th Meeting of the Approval Committee for Credit Institutions in the « Bank » or « Financial Institution » category;

Whereas, Decision No. D/2021/014/CAM of July 7, 2021 fixing the minimum share capital amount for Credit Institutions in the « Bank » category;

DECIDES:

Article 1: This Instruction defines the implementation modalities of Decision No. D/2021/014/CAM of July 7, 2021 fixing the minimum share capital for Credit Institutions in the « Bank » category.

Article 2: Credit institutions already approved in the « Bank » category or pending approval as of the signing date of this Decision must increase their minimum share capital to two hundred billion Guinean francs (GNF 200,000,000,000).

Article 3: The release of this minimum share capital shall be carried out according to the following schedule:

• to GNF 140 billion by June 30, 2022;
• to GNF 170 billion by June 30, 2023;
• to GNF 200 billion by June 30, 2024.

12, Boulevard du Commerce, 6th Avenue of the Republic C/Kaloum - P.O. Box 692 - Conakry - Republic of Guinea Tel: (+224) 664 67 77 77 - Fax: (+224) 669 08 88 88 - Email: secretariat.gouv@bcrg-guinee.org www.bcrg-guinee.org

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Article 4: Credit institutions are required to strictly comply with the provisions of this Instruction.

Article 5: This Instruction, effective as of its signing date, repeals all prior contrary provisions, and shall be registered and published in the Official Journal of the Republic of Guinea.

[Stamp: Approval Committee - The President]
[Signature]

Dr. Louncény NABE