Regulatory Alerts2011-09-15
Added · Updated
Law No. 11/020 of 15 September 2011 Fixing Rules on Microfinance Activity in the Democratic Republic of Congo
Law No. 11/020 establishes the legal framework for microfinance in the Democratic Republic of Congo, defining microfinance institutions as either credit-only enterprises or savings-and-credit societies. It mandates Central Bank of Congo authorization for establishment and operations, sets strict eligibility criteria for directors, and requires distinct administrative and management organs. The law grants the Central Bank supervisory powers to impose sanctions, including temporary representation or license withdrawal, for non-compliance or governance failures.