Regulatory Alerts2018-09-11
Added · Updated
Instruction No. 36 on Business Continuity for Credit Institutions and Microfinance Institutions
Instruction No. 36 establishes prudential rules for credit institutions and microfinance institutions in the Democratic Republic of Congo regarding business continuity management and the development of business continuity plans. It mandates that these entities define policies, strategies, and procedures to manage major operational disruptions, ensuring the protection of depositors and the stability of the financial system. The instruction requires the establishment of crisis management cells, impact analyses, and detailed recovery objectives, while assigning specific responsibilities to governing bodies, executive organs, and designated business continuity officers. It further stipulates that plans must be written, tested, and regularly updated, with immediate reporting obligations to the Central Bank of Congo in the event of a crisis.
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