Regulatory Alerts2024-10-01
Added · Updated
On the Required Conditions for Granting Foreign Currency Loans and/or Guarantees Issued Under the December 28, 2023 Foreign Exchange Regulations
The Bank of the Republic of Burundi issued Circular No. 008/RC/2024 to define the conditions under which credit institutions may extend foreign currency loans and guarantees to residents and non-residents. The circular requires that these instruments finance domestic investments generating foreign currency revenues or reducing import-related outflows, while mandating borrowers to demonstrate repayment capacity and provide collateral covering at least 150% of the loan amount. Credit institutions must additionally manage exchange rate risks, ensure traceable disbursements in local accounts, and report all transactions to the Central Bank immediately upon execution.
More like this from BRB
We email you every new BRB publication the day it's published.