Regulatory Alerts2016-06-28
Added · Updated
Instruction No. 29 on the Activity of Banking Agents
Instruction No. 29 establishes the regulatory framework for banking agents used by credit institutions and microfinance institutions in the Democratic Republic of Congo. It mandates prior authorization from the Central Bank of Congo, defines eligibility criteria for agents, and requires written contracts specifying service limits, liability, and compliance obligations. The instruction prohibits specific agent activities such as offering guarantees or financial advances, imposes strict anti-money laundering and consumer protection duties on the institutions, and sets reporting requirements for agent lists and annual performance data.