Regulatory Alerts2016-08-25
Added · Updated
Instruction No. 28 on the Standardization of Banking Coordinates
This instruction establishes technical standards for banking coordinates, specifically the Bank Identity Statement (RIB) and Postal Identity Statement (RIP), applicable to credit institutions and other payment service providers in the Democratic Republic of Congo. It mandates a 23-character standardized format comprising a 5-digit bank code, a 5-digit agency code, an 11-digit account number, and a 2-digit RIB check key calculated using the MOD 97 method. The regulation entered into force six months after its signature by the Governor of the Banque Centrale du Congo.
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