Regulatory Alerts2023-07-06
Added · Updated
Instruction No. 21 on Corporate Governance of Credit Institutions (Modification No. 2)
The Central Bank of Congo mandates that credit institutions establish a corporate governance structure comprising the general meeting of shareholders, a board of directors, specialized committees (audit, risk, ethics and compliance, remuneration, and nominations), and an executive body. The board must be predominantly composed of non-executive directors, include at least three independent directors, and adhere to strict independence criteria and term limits. Institutions are required to implement a governance framework proportional to their size and risk profile, ensuring clear separation of duties, conflict of interest prevention, and regular reporting to regulators.
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