Law No. 11/020 of 15 September 2011 Fixing Rules on Microfinance Activity in the Democratic Republic of Congo

54th Year
First Part
Special Number

JOURNAL OFFICIAL
of the
Democratic Republic of the Congo
Office of the President of the Republic

LAW No. 11/020 OF 15 SEPTEMBER 2011
FIXING THE RULES RELATING TO
MICROFINANCE ACTIVITY IN THE
DEMOCRATIC REPUBLIC OF CONGO

Kinshasa – 25 February 2013

54th Year
First Part
Special Number

JOURNAL OFFICIAL
of the
Democratic Republic of the Congo
Office of the President of the Republic
Kinshasa – 25 February 2013

SUMMARY

PRESIDENCY OF THE REPUBLIC
15 September 2011 - Law No. 11/020 fixing the rules relating to Microfinance activity in the Democratic Republic of the Congo, col. 1.
Statement of Reasons, col. 1.
Law, col. 3.

PRESIDENCY OF THE REPUBLIC

Law No. 11/020 of 15 September 2011 fixing the rules relating to Microfinance activity in the Democratic Republic of the Congo

Statement of Reasons

This law aims to regulate Microfinance activity in the Democratic Republic of the Congo.

Indeed, the economic environment of our country has long been characterized by:

• the lack of integration of the informal sector into the real economy;
• the existence of a very underdeveloped and poorly endowed financial sector, which manifests, among other things, in very low banking penetration, concentrated in a few major cities of the country;
• deficient intermediation;
• the absence of investment in local financial infrastructure;
• inappropriate taxation for the emergence of Microfinance Institutions;
• the disorderly development of the informal sector;
• the near absence of scriptural money in exchanges; and
• the generalized use of foreign currencies in the economy.

These constraints have obvious unfavorable consequences on the macroeconomic framework, resulting in a high inflation rate with the corollary of widespread and persistent impoverishment of the majority of the population. They are also the cause of a high rate of money hoarding to the detriment of the portion drained into official financial circuits.

Consequently, low-income households, small and medium-sized enterprises or industries cannot have substantial access to basic financial services.

Yet, it appears that worldwide, savings and/or credit financial services benefiting vulnerable populations have allowed them to overcome barriers of exclusion and significantly improve their quality of life and encourage the country's development.

Microfinance can therefore become one of the decisive levers for development and the fight against poverty by contributing, among other things, to improving the macroeconomic framework through:

• a reduction in the rate of money hoarding;
• access to the savings and credit system by the poorest social layers;
• the decentralization and geographic extension of banking;
• the drainage of nearly all money into the banking circuit, whereas to date, only about 30% passes through it;
• the increase and diversification of investments across the entire national territory thanks to credit becoming more accessible to all;
• the increase in Gross Domestic Product through the increase and diversification of investments;
• the control and strengthening of the exchange rate of the national currency and the induced increase in the population's purchasing power;
• indispensable support for political-administrative decentralization following the financial decentralization that must be triggered by the promotion of Microfinance;
• the improvement of State revenues consequent to the increase in Gross Domestic Product.

For all these reasons, the Democratic Republic of the Congo, which could no longer afford to ignore this reality, initiated a reform of the Microfinance sector since the year 2000.

This reform aims, in particular, at establishing a specific legal framework that is sufficiently clear, flexible, innovative, and structural, capable of allowing the development, professionalization, and cleansing of the Microfinance sector and, above all, favoring mass banking, with a view to establishing an inclusive financial system operating, ultimately, in real time.

Microfinance activity is open to any person without discrimination, notably to women, in accordance with the provisions of Article 14 of the Constitution.

Finally, the essential articulations of this law comprise four titles below:

• Title 1 devoted to general provisions.
• Title 2 relating to specific provisions for Microfinance Institutions:
• Title 3 deals with sanctions derived essentially from banking law;
• Title 4 is devoted to transitional and final provisions.

Such is the general economy of this law.

Law

The National Assembly and the Senate have adopted; The President of the Republic promulgates the law whose text follows:

TITLE I: GENERAL PROVISIONS
CHAPTER 1: OBJECT AND SCOPE OF APPLICATION

Article 1
This law sets out provisions relating to Microfinance activity in the Democratic Republic of the Congo in accordance with Articles 122 point 8 and 123 point 4 of the Constitution.

Article 2
Without prejudice to the provisions of banking law relating to the activity and control of credit institutions, this law applies to legal persons who, regardless of their legal form, carry out as a habitual profession the Microfinance operations referred to in Articles 6 and 7.

Article 3
Without prejudice to the provisions of banking law providing applicable provisions to savings and credit cooperatives, savings and credit cooperatives carry out microfinance operations.

Approved banks may carry out microfinance operations. They remain governed by banking law.

The provisions of this law, relating to the principle of non-discrimination, securities, privileges of pursuit, competition regulation, and client protection apply to banks and savings and credit cooperatives when they carry out microfinance operations.

Article 4
Non-profit associations are not authorized to carry out Microfinance operations.

CHAPTER 2: DEFINITIONS

Article 5
For the purposes of this law, the following terms are understood as:

1. Abuse of dominant position: the abusive exploitation of one's personal status to impose one's rules on the market;
2. Public aid distorting competition: facilities granted by the State, in whatever form, capable of distorting competition between companies;
3. Manager: any member of the Microfinance Institution who participates in decision-making in the administration and/or management bodies;
4. Right of retention: security by which a creditor may legitimately hold a debtor's asset, having a link of connectivity, provided he is not satisfied of what is owed to him until perfect payment, independently of any other security.
5. Agreements restricting competition: all agreements between companies, decisions of business associations, and concerted practices between companies, having as their object or effect to restrict or distort the play of competition;
6. Savings: funds collected by the Microfinance Institution from the public in the form of deposits, with the right to dispose of them within the framework of its activities and the obligation to return them upon the depositor's request, according to agreed terms;
7. Group: a set of natural or legal persons, having between them a financial interdependence generating a legal link of solidarity;
8. Microfinance Institution: a legal person who carries out, as a habitual profession, Microfinance operations;
9. Banking Law: banking law relating to the activity and control of credit institutions;
10. Microfinance: the habitual offer of financial services including persons who do not have access to the classic banking system;
11. Pledge of professional equipment: the act by which a client of a Microfinance Institution constitutes, in its favor, a guarantee on equipment belonging to him, unencumbered and serving the exercise of his profession. This guarantee is realized without depriving the client of his property;
12. Leasing operation: the operation by which a microfinance institution acquires, at the request of its client, the ownership of movable or immovable equipment, for professional or individual use, with a view to leasing them to the latter for a fixed duration, in exchange for the payment of a fee or rent;
13. Direct credit operation: the lending operation granted without obligation of prior savings, subject to a possible security deposit required at the time of loan release;
14. Micro-credit operation: any act by which a Microfinance Institution makes or promises to make funds available to the clientele, as well as any act by which it undertakes an obligation in favor of its clientele by signature such as a guarantee, a surety.
15. Microfinance operations or services: banking activities carried out using techniques specific to Microfinance;
16. Prudential regulation: a set of specific rules that allow monitoring the financial solvency of approved Institutions and ensuring the protection of the entire financial system as well as that of depositors;
17. Non-prudential regulation: a set of rules relating to credit institutions approved by the Central Bank of the Congo that do not aim at preventing insolvency;
18. Financial services: savings and/or credit services, as well as all related services, allowing beneficiaries to improve their standard of living and access sustainable human development for better social integration;
19. Solidarity: security by which a creditor may require any one of its debtors constituted in a group to pay the entirety of his claim, except for recourse between debtors;
20. Banking system: a set consisting of the Central Bank of the Congo and banks approved by it, in accordance with banking law.

CHAPTER 3: MICROFINANCE OPERATIONS AND SERVICES

Article 6
Microfinance Institutions carry out the following operations:

1. the collection of savings;
2. the granting of micro-credit.

Article 7
Under the conditions defined by the Central Bank of the Congo, Microfinance Institutions carry out the following specific operations:

1. leasing operations;
2. any other activity or operation authorized by the Central Bank of the Congo.

They also carry out related services, including:

1. safe deposit box rental;
2. training and advisory actions for their clientele;
3. fund transfer and distribution of electronic money.

The Central Bank of the Congo limits the importance of these operations and services relative to the total activities of savings collection and/or micro-credit granting.

Article 8
Each savings and credit Institution must have within it a financial training structure to inform the population and clients with full knowledge of the facts.

The training structures will include experts in banking and finance.

CHAPTER 4: THE PRINCIPLE OF NON-DISCRIMINATION

Article 9
Every person has, according to their capacities, access to the services provided by Microfinance Institutions without any discrimination.

Article 10
Microfinance activity is open in its fullness to women, notably in capital participation, account opening, access to credit, or any other service.

TITLE II: SPECIFIC PROVISIONS FOR MICROFINANCE INSTITUTIONS

CHAPTER 1: MICROFINANCE INSTITUTIONS

Section 1: Categories, Legal Form, Minimum Capital, and Approval

Article 11
Microfinance Institutions are divided into two categories, namely:

1. micro-credit enterprises;
2. Microfinance companies.

Article 12
Micro-credit enterprises carry out direct credit operations in favor of their clients. They do not collect public savings.

Article 13
Microfinance companies collect public savings and grant credits to their clients.

Article 14
Microfinance institutions are constituted either as limited liability private companies (SARL) or as limited liability joint-stock companies (SASL).

A microfinance institution may transform itself in accordance with commercial company legislation, after authorization from the Central Bank of the Congo.

Microfinance Institutions constituted or transforming into SARL are exempt from Government authorization for their constitution or transformation. This exemption extends to capital increases.

Article 15
The Central Bank of the Congo sets the minimum capital of Microfinance Institutions.

The subscribed capital must be fully paid up at the constitution of the Microfinance Institution.

Article 16
Before exercising its activities on the territory of the Democratic Republic of the Congo, any microfinance institution is approved by the Central Bank of the Congo.

Without prejudice to the provisions of banking law, an instruction from the Central Bank of the Congo sets the conditions as well as the procedure for granting and withdrawing approval from Microfinance Institutions.

Section 2: Approval, Prohibitions, and Incompatibilities

Article 17
In accordance with banking law, the following are subject to prior approval by the Central Bank of the Congo:

1. any modification of the statutes of a Microfinance Institution;
2. any merger, absorption, split, transformation operation, as well as the voluntary sale of a Microfinance Institution or any closure thereof;
3. the opening or closing of a branch, agency, counter, or service point by a Microfinance Institution;
4. any change of category by a Microfinance Institution.

The Central Bank of the Congo decides within sixty days from the date mentioned on the receipt of the complete file. The absence of a decision upon expiration of this period constitutes approval.

Article 18
No one may be a promoter, partner, or manager of a Microfinance Institution, nor have the power to sign on its behalf, if:

1. he is not of good conduct and good morals;
2. he has been finally convicted in the Democratic Republic of the Congo or abroad as an author, accomplice, or for attempted commission of any of the following offenses:
   a. counterfeiting; b. counterfeiting or falsification of banknotes, public instruments, and trademarks;
   c. counterfeiting or falsification of seals, stamps, punches, and marks;
   d. forgery and use of forgery; e. theft, extortion, misappropriation or abuse of confidence, fraud, handling stolen goods, or petty theft; f. simple or fraudulent bankruptcy, fictitious circulation of commercial instruments; g. issuance of a check without funds; h. corruption or extortion;
   i. money laundering;
   j. terrorism financing; k. violation of banking law, law on savings and credit cooperatives, as well as exchange regulation;
   l. any other offense for which civic rights have been withdrawn from him;
3. he has already lost the status of manager of a credit establishment following a serious breach or gross misconduct;
4. he has been declared bankrupt;
5. he has been blacklisted by the Central Bank of the Congo, unless rehabilitated in his favor;
6. he has participated in the administration, direction, or daily management of a credit establishment whose forced dissolution has been ordered or whose bankruptcy has been declared.

When the decision resulting in one of the prohibitions referred to in this article is subsequently revoked or overturned, this prohibition ceases by operation of law, unless the new decision is subject to appeal.

Article 19
No one may be a manager of a Microfinance Institution if:

1. he holds positions of responsibility in a competing institution, having wholly or partially the same corporate object;
2. he is a civil servant or career agent of the State's public services;
3. he is a representative, civil servant, or career agent of the Central Bank of the Congo.

Article 20
The loss of manager status must be brought, in writing, to the knowledge of the Central Bank of the Congo by the concerned Microfinance Institution within fifteen days.

Article 21
Microfinance Institutions may, in the exercise of their activity, collaborate with natural or legal persons called microfinance auxiliaries, within the framework of a solicitation, brokerage, or commission contract.

A copy of the contract, duly certified by the competent political-administrative authority, is deposited with the Central Bank of the Congo.

Section 3: Governance
Paragraph 1: General Principles

Article 22
The legal form as well as the organization and functioning rules of a Microfinance Institution are determined by its statutes.

Article 23
Any Microfinance Institution must have distinct bodies charged respectively with administration and management.

Article 24
The cumulation of management and control functions by the same person is prohibited.

Article 25
Any person called upon to ensure the administration or daily management of a Microfinance Institution must justify honorability, competence, and professional experience necessary for the exercise of this function.

Paragraph 2: The Body Charged with Administration

Article 26
The body charged with the administration of the Microfinance Institution has the broadest powers to, in particular:

1. define the strategic objectives of the Microfinance Institution and ensure their implementation;
2. establish guiding principles and ethical rules to guide staff conduct;
3. monitor the management of the Microfinance Institution, notably through effective use of internal audit, external audit, and internal control functions;
4. preserve the solvency of the Microfinance Institution and put in place effective mechanisms for better risk management;
5. ensure the application of policies proscribing activities, relationships, or situations likely to harm the quality of governance of the Microfinance Institution;
6. take any useful measure likely to promote transparency and good governance of the Microfinance Institution.
7. appear in court;
8. ensure the representation of the Microfinance Institution towards third parties.

Article 27
The body charged with the administration delegates, within the limits set by the statutes, the necessary powers to ensure the management of the Microfinance Institution.

The body charged with the administration of the Microfinance Institution is composed of at least five members.

Sub-section 3: The Management Body

Article 28
The body charged with management ensures the organization, orientation, and evaluation of internal control. It calls upon external audit for independent control.

It reports periodically to the body charged with administration on the financial situation of the Microfinance Institution and on all aspects necessary to carry out its tasks.

Article 29
The body charged with the daily management of a Microfinance Institution comprises at least two natural persons, designated according to the rules established by the institution's statutes.

Paragraph 4: Specialized Committees

Article 30
A Microfinance Institution, as needed, equips itself with specialized committees in matters such as credit, internal control, and the fight against money laundering and terrorism financing, in accordance with the regulation issued by the Central Bank of the Congo.

Section 4: External Control and Supervision Paragraph 1: External Control

Article 31
The certification of the financial statements of a Microfinance Institution is carried out by one or two statutory auditors, natural or legal persons designated for a term of three years.

In accordance with banking law, the statutory auditor may not proceed to the verification of the accounts of the Microfinance Institution in which he holds any interest.

This certification may be supported as needed by an external audit.

Article 32
Statutory auditors are approved by the Central Bank of the Congo.

They are chosen by Microfinance Institutions from a list published by the Central Bank of the Congo.

The Microfinance Institution informs the Central Bank of the Congo, in writing and with acknowledgment of receipt within 48 hours, of the cessation of functions of a statutory auditor.

Paragraph 2: Supervision

Article 33
The Central Bank of the Congo ensures the supervision of Microfinance Institutions. To this end, it carries out document and on-site checks.

It is authorized to request, from any natural or legal person, any information deemed useful for the proper conduct of the checks it performs.

Article 34
When the Central Bank of the Congo finds that:

• the operations of a Microfinance Institution are conducted contrary to this law, laws, and regulations in force;
• the management structures of a Microfinance Institution, its administrative and accounting organization, or its internal control present serious deficiencies;
• the Microfinance Institution refuses to submit to control or otherwise hinders this control,
• the financial statements do not reflect reality according to the report of the statutory auditors or external audit.

And, depending on the seriousness of the facts, it may either:

1. address a warning, after putting its managers on notice to provide their explanations within a reasonable deadline;
2. address an injunction to the effect of taking, within a determined deadline, all appropriate corrective measures;
3. take any safeguard measure deemed necessary, notably the designation, for a period not exceeding six months, of a provisional representative;
4. place under administrative management of the Central Bank of the Congo;
5. withdraw its approval.

Section 5: Financial Regulation and Disclosure Paragraph 1: Prudential Regulation

---

Article 35
Microfinance Institutions are required to comply with the prudential management standards issued by the Central Bank of Congo.

Paragraph 2: On non-prudential regulation

Article 36
Every Microfinance Institution is required to establish an internal control system in order to:

1. ensure the protection of the Microfinance Institution's assets;
2. evaluate its financial policies and practices;
3. ensure the reliability of its financial statements;
4. ensure compliance with current legal and regulatory texts;
5. ensure the conformity of its operations and organization:
   a. with professional and ethical standards and practices; b. with the orientations of its deliberative and executive bodies.

Article 37
Microfinance Institutions comply with the law on the fight against money laundering and the financing of terrorism.

An instruction from the Central Bank of Congo sets out specific rules for the identification of Microfinance Institution clients and the monitoring of their operations.

Paragraph 3: On rules relating to financial disclosure

Article 38
The accounts of Microfinance Institutions are kept according to the rules set by a specific chart of accounts. These rules must be in conformity with national and international standards.

Article 39
The provisions relating to annual accounts provided for by the banking law apply mutatis mutandis to Microfinance Institutions.

Section 6: On dissolution and liquidation

Article 40
The dissolution of a Microfinance Institution may be voluntary or forced.

Dissolution is said to be voluntary when it is decided by the extraordinary general meeting of shareholders or partners of the Microfinance Institution, after the opinion of the Central Bank of Congo.

It is said to be forced when the decision emanates from the Central Bank of Congo or a competent court.

Article 41
The decision to dissolve entails the liquidation of the Microfinance Institution.

It is accompanied by the appointment of one or more liquidators by the extraordinary general meeting when the dissolution is voluntary, and by the Central Bank of Congo when it is forced.

When the dissolution is decided by the competent court, the court charges the Central Bank of Congo to appoint a liquidator.

Article 42
The liquidation of Microfinance Institutions is carried out in accordance with the rules set by the banking law.

In the event of the liquidation of a Microfinance Institution, client savings are reimbursed in preference to any other creditor, even a privileged one.

CHAPTER 2: INCENTIVE MEASURES

Section 1: On securities

Article 43
Without prejudice to the provisions of the law on the general regime of property, land and real estate regime, and the regime of securities, as modified and supplemented to date, loans granted by Microfinance Institutions to their clients may be guaranteed by the following securities:

1. joint liability (solidarity);
2. the right of retention;
3. the pledge of professional equipment.

Microfinance Institutions may also resort to the pledge of business assets in accordance with the laws in force on pledges and securities.

Paragraph 1: On joint liability (solidarity)

Article 44
Several clients of a Microfinance Institution may form a group in order to obtain credit and thus become co-debtors of a joint debt.

The link of joint liability arising by operation of law from this grouping is governed in accordance with the laws in force on contracts and conventional obligations.

Paragraph 2: On the right of retention

Article 45
A Microfinance Institution exercises its right of retention when it legitimately holds a client's property who has benefited from a credit until the perfect payment of what is owed to it, independently of any other security.

Article 46
The right of retention may only be exercised if:

1. the legitimately held item is not subject to any seizure;
2. the claim is certain, liquid, and due;
3. there is a link of connectivity between the origin of the claim and the item retained.

Connectivity is deemed established if the holding of the item and the claim are the consequence of business relations between the Microfinance Institution and its client.

Article 47
When it receives neither payment nor equivalent security, the Microfinance Institution exercising the right of retention may, after service by bailiff and after summons made to the client, if applicable, to a third party if the property belongs to them, exercise its rights of succession and preference in accordance with the regulations on pledges.

Article 48
When the retention concerns the deposit constituted by a client as security for a loan obtained from the Microfinance Institution, the rules relating to set-off apply by operation of law. In this case, set-off is realized after deduction of fees due by the client.

Paragraph 3: On the pledge of professional equipment

Article 49
Unencumbered equipment used to equip a client for the exercise of their profession may be the subject of a pledge without dispossession in favor of the Microfinance Institution.

Equipment that is part of a business asset may be pledged at the same time as the other elements of the business or separately.

Article 50
The pledge is constituted by authentic deed or under private signature.

1. It must, under penalty of nullity, contain the following mentions:
2. the first names, surnames, domiciles, and professions of the parties and, if applicable, of the third party requesting the registration;
3. The description of the pledged equipment allowing it to be identified, the indication of its location, and the mention, if necessary, that this equipment is susceptible to being moved;
4. the amount of the guaranteed claim;
5. the conditions for the due date of the principal debt and interest.

Article 51
The pledge of equipment only takes effect if it is registered in the commercial register or in an equivalent register.

The registration preserves the creditor's rights for five years from its date; its effect ceases if it has not been renewed before the expiration of this period.

Article 52
The debtor may not transfer all or part of the equipment encumbered by a pledge without the prior agreement of the secured creditor or, failing that, without authorization from the President of the competent court of the jurisdiction.

Any transfer of the pledged equipment without such agreement or authorization renders the debt immediately due.

When the debt is not paid, the debtor is subject, depending on the case, to bankruptcy or insolvency proceedings.

The prohibitions resulting from bankruptcy or insolvency and the penalties provided for the offense of breach of trust apply to the debtor or to any person who, by fraudulent maneuvers, deprives the secured creditor of their rights or diminishes them.

Article 53
The secured creditor on professional equipment has a right of preference.

In the event of non-payment at maturity, the creditor exercises their right of succession and proceeds to the realization of the equipment according to common law.

Section 2: On fiscal measures

Article 54
Microfinance Institutions are subject to the common law fiscal regime.

However, the interest and commissions received by them for microfinance services rendered to their clients are exempt from turnover tax.

Section 3: On privileges of pursuit

Article 55
The directors of Microfinance Institutions do not incur any personal obligation when they perform acts of routine management or administration on behalf of the Microfinance Institution.

Nevertheless, they engage their personal responsibility in cases of negligence, gross fault, or fraud.

Article 56
The judicial police officer who receives a complaint, denunciation, or establishes the existence of an offense against a director in charge of the routine management of a Microfinance Institution transmits their report directly to the competent Public Prosecutor's Office, which notifies the Central Bank of Congo. The latter takes any measures it deems necessary for the protection of client savings.

CHAPTER 3: ON THE REGULATION OF COMPETITION AND CLIENT PROTECTION

Section 1: On the regulation of competition

Article 57
When a Microfinance Institution damages the credit of a competitor, takes away its clientele, or, in general, damages its competitive capacity, the Central Bank of Congo orders, ex officio or at the request of the interested Microfinance Institution, or of the interested clients, the cessation of any act contrary to honest usages accepted in the profession.

In accordance with legal provisions on unfair competition, the Central Bank of Congo establishes a list of honest usages of the profession.

Article 58
The following acts restricting competition are prohibited by operation of law:

• restrictive agreements on competition, when they are not justified by technical progress or the interest of clients;
• abuse of dominant position;
• public aid likely to distort competition when they are not justified by technical progress or the interest of clients;

The instruction of the Central Bank of Congo establishes the rules and principles set out in the first paragraph of this article.

Section 2: On client protection

Article 59
The Central Bank of Congo issues specific regulation designed to guarantee the information and protection of clients of Microfinance Institutions.

Article 60
Microfinance Institutions are notably required to:

1. offer their clients products and services adapted to their repayment capacities in order to prevent any risk, especially over-indebtedness;
2. regularly provide complete information on the cost and quality of products as well as services offered to the clientele;
3. publish their contractual conditions;
4. preserve the confidentiality of personal data provided by the client.

Article 61
Every Microfinance Institution must, in particular:

1. define ethical standards to which its staff will be required to conform in their relations with the clientele;
2. take sufficient measures to detect and correct any act of corruption or mistreatment of the clientele;
3. put in place appropriate mechanisms for the rapid handling of client complaints or claims and the repair of any prejudice suffered.

TITLE III: SANCTIONS

CHAPTER 1: ADMINISTRATIVE SANCTIONS

Article 62
If a Microfinance Institution violates a legal or regulatory provision relating to its activity, fails to comply with an injunction, or ignores a warning from the Central Bank of Congo, the latter imposes one of the disciplinary sanctions provided for by the banking law.

Article 63
Microfinance Institutions are also subject to administrative fines and penalties provided for by the banking law.

CHAPTER 2: CRIMINAL SANCTIONS

Article 64
Subject to a penalty of penal servitude of one to two years and a fine of 500,000 to 5,000,000 Congolese Francs, or one of these penalties only:

1. any person violating the provisions of articles 12 and 57 of this law;
2. any person who, participating directly or indirectly in the administration, direction, control, or management of a Microfinance Institution:
   a. violates the provisions of articles 17 to 19; b. obstructs the mission of persons mandated by the Central Bank of Congo to carry out an inspection provided for in article 33;
   c. obstructs the mission of the provisional representative provided for in article 34.

Article 65
In the event of conviction for an offense under this law, if it is established that the convicted person diverted client savings, the judge shall additionally pronounce:

1. the confiscation of diverted funds and/or property belonging directly or indirectly, without prejudice to the rights of third parties, to the convicted person up to the amount of the enrichment realized by them since the date of the oldest facts justifying their conviction, unless it is established that there is no link between the enrichment and the offense;
2. permanent expulsion from the territory of the Democratic Republic of Congo after the execution of the sentence, if the convicted person is not Congolese.

Article 66
Agents of the Central Bank of Congo vested with the status of judicial police officers with restricted competence are competent to establish offenses under this law or any other offense causing prejudice to the microfinance activity.

Article 67
Without prejudice to the provisions of the code of criminal procedure and the law on the fight against money laundering and the financing of terrorism, offenses under this law are established and prosecuted in accordance with the banking law.

TITLE IV: TRANSITIONAL AND FINAL PROVISIONS

CHAPTER 1: TRANSITIONAL PROVISIONS

Article 68
In accordance with article 53 of this law, an instruction from the Central Bank of Congo sets out the procedures for registering the pledge of professional equipment of clients of Microfinance Institutions not registered in the commercial register.

Article 69
Microfinance Institutions regularly approved by the Central Bank of Congo before the promulgation of this law, provided that they are in order with fiscal obligations, are inscribed ex officio on the list of Microfinance Institutions.

Nevertheless, they have a period of one year, from the entry into force of this law, to comply with its provisions.

CHAPTER 2: FINAL PROVISIONS

Article 70
This law repeals all previous provisions contrary to it.

It enters into force on the date of its promulgation.

Done in Kinshasa, on 15 September 2011

Joseph KABILA KABANGE