Instruction No. 37 on Free Banking Services

BANQUE CENTRALE DU CONGO

LE GOUVERNEUR

INSTRUCTION NO. 37 ON FREE BANKING SERVICES

The Central Bank of Congo,

Having regard to Law No. 005/2002 of May 7, 2002, relating to the constitution, organization, and functioning of the Central Bank of Congo, particularly Article 6;

Having regard to Law No. 003/2002 of February 2, 2002, relating to the activity and control of Credit Institutions, particularly Title 1;

Having regard to Law No. 002/2002 of February 2, 2002, laying down provisions applicable to Savings and Credit Cooperatives, particularly Article 6;

Having regard to Law No. 11/020 of September 15, 2011, establishing rules relating to the microfinance activity in the Democratic Republic of Congo, in Articles 57 to 61;

Considering the need to promote banking services offered by Credit Institutions and Microfinance Institutions to their clientele;

Considering the need to contribute to the improvement of the country's financial inclusion rate;

Hereby adopts the following regulatory provisions relating to the fixing of banking conditions.

Article 1:

This Instruction applies to Credit Institutions and Microfinance Institutions, hereinafter referred to as "subject institutions".

Article 2:

Subject institutions are required to offer certain banking services to their clientele free of charge.

The list of free services is set out in the annex and forms an integral part of this Instruction.

Article 3:

The free provision of the banking services referred to in Article 2 is subject to no conditions.

563, Colonel Tshatshi Boulevard - Kinshasa - Gombe Email: sgouverneur@bcc.cd / svicegouve@bcc.cd / cabgouv@bcc.cd - Website: http://www.bcc.cd

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Article 4:

Any person contravening the provisions of this Instruction is subject to the sanctions provided for by legal and regulatory texts.

Article 5:

All provisions contrary hereto are repealed, as of the entry into force of this Instruction.

Article 6:

This Instruction enters into force after a transitional period of six months running from the date of its signature.

Done at Kinshasa, on January 3, 2019

Déogratias MUTOMBO MWANA NYEMBO Governor

563, Colonel Tshatshi Boulevard - Kinshasa - Gombe Email: sgouverneur@bcc.cd / svicegouve@bcc.cd / cabgouv@bcc.cd - Website: http://www.bcc.cd

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ANNEX TO INSTRUCTION NO. 37

LIST OF BANKING SERVICES OFFERED FREE OF CHARGE BY CREDIT INSTITUTIONS AND MICROFINANCE INSTITUTIONS

1. Account opening, operation, and monitoring

• Account opening;
• Cash deposits at the client's bank at any counter;
• Cash withdrawals at the client's bank at any counter and in any currency;
• Salary domiciliation;
• Change of constituent elements of the client's file;
• Establishment of an authorization for direct debit or standing order;
• Issuance and sending of the first two monthly statements and printed account statements of the client;
• Account closure.

2. Payment means and operations

• Withdrawals at an automated teller machine (ATM) of the client's bank or at a Service Point (banking agent);
• Balance inquiry and issuance of the first two monthly balance statements at the ATM of the client's bank;
• Account-to-account transfers within the same bank;
• Payment by bank card in national currency.

3. Remote banking

• Debit and credit notifications via electronic means;
• Balance inquiry and issuance of the balance and account history through an ATM of the client's bank.

563, Colonel Tshatshi Boulevard - Kinshasa - Gombe Email: sgouverneur@bcc.cd / svicegouve@bcc.cd / cabgouv@bcc.cd - Website: http://www.bcc.cd