Regulatory Alerts2023-08-15
Added · Updated
Instruction No. 53 on Approval Conditions for Financial Companies, Their Directors, and Modification of Statutory Situations
The Central Bank of Congo establishes the conditions and procedures for granting approval to financial companies, their directors, and shareholders, as well as for authorizing modifications to their statutory situations. The instruction defines applicable entities, including leasing, factoring, and payment institutions, and mandates prior approval for changes in category, capital participation, and key management appointments. It outlines specific documentation requirements, governance standards, and the role of a reference shareholder, while setting a 90-day decision timeline and grounds for refusal based on integrity and transparency risks.
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