Regulatory Alerts2019-01-03
Added · Updated
Instruction No. 40 on the Publication of Banking Conditions
Instruction No. 40 mandates credit institutions and microfinance institutions in the Democratic Republic of Congo to publish their banking conditions, including applicable rates, mandatory levies, commissions, and fees, on a quarterly basis and immediately upon any change. The regulation defines specific allowable fees and commissions, requires clear and accessible disclosure in French and national languages, and stipulates that clients must receive loan contracts at least four days prior to signing. It further establishes a 30-day advance notice period for any modifications to loan terms and invalidates contracts presented in violation of these transparency and procedural requirements.
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