Regulatory Alerts2016-03-21
Added · Updated
Law No. 011/020 of 15 September 2011 Fixing Rules on Microfinance Activity in the Democratic Republic of Congo
Law No. 011/020 establishes the legal framework for microfinance institutions in the Democratic Republic of Congo, defining their scope, operations, and governance. It categorizes institutions into micro-credit enterprises and microfinance societies, mandating Central Bank of Congo approval for establishment and key changes. The law prohibits non-profit associations from conducting microfinance, sets strict eligibility criteria for directors, and empowers the Central Bank to supervise institutions and impose sanctions for non-compliance.