Regulatory Alerts2023-08-15
Added · Updated
Instruction No. 54 on Corporate Governance of Financial Institutions
The Central Bank of Congo establishes prudential governance rules for financial institutions, including leasing companies, factoring firms, payment institutions, and specialized financial entities. The regulation mandates a balanced board structure with a majority of non-executive directors and at least three independent members, defines specific roles for the General Assembly and the Executive Body, and requires the establishment of specialized committees for audit, risk, remuneration, and nominations. It further imposes strict requirements on director independence, conflict of interest prevention, and the operational procedures of the governing bodies.
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