Regulatory Alerts2022-06-02
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Regulation No. 49/2022 on Outsourcing
The National Bank of Rwanda issued Regulation No. 49/2022 to establish minimum prudent standards for regulated institutions outsourcing material activities to external service providers. The regulation prohibits delegating core management functions and licensed financial services while mandating rigorous pre-outsourcing due diligence, service level agreements, risk management, and board oversight. It further outlines comprehensive requirements for confidentiality, business continuity, cloud computing, exit strategies, and supervisory approval to ensure operational resilience and regulatory compliance.
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