Regulatory Alerts2024-09-01
Added · Updated
Revision of Circular No. 25/2018 on the Pricing Grid for Services Provided by the Central Bank in Credit Institution Supervision
The Banque de la République du Burundi revises Circular No. 25/2018 to establish the fee schedule for services related to the supervision of credit institutions and representative offices in Burundi. The revision defines five categories of services, including file fees, fees for providing lists of defaulting clients, approval act fees, annual supervision fees, and foreign exchange regulation fees. Annual fees for credit institutions are set at 1% of net profit with a minimum of 15,000,000 BIF, while representative offices pay a flat fee of 5,000,000 BIF. These fees are payable by January 31 each year, with automatic debit applied to accounts held at the Central Bank for credit institutions.
BANQUE DE LA REPUBLIQUE DU BURUNDI LE GOUVERNEUR
REVISION OF CIRCULAR NO. 25/2018 RELATING TO THE PRICING GRID FOR SERVICES PROVIDED BY THE CENTRAL BANK IN THE FIELD OF SUPERVISION OF CREDIT INSTITUTIONS AND REPRESENTATIVE OFFICES ESTABLISHED IN BURUNDI, ISSUED PURSUANT TO LAW NO. 1/17 OF AUGUST 22, 2017 GOVERNING BANKING ACTIVITIES
Pursuant to Law No. 1/34 of December 2, 2008 on the Statutes of the Banque de la République du Burundi, specifically Articles 7 (paragraphs 4 and 6) and 8;
Pursuant to Law No. 1/17 of August 22, 2017 governing banking activities, specifically Article 41;
Pursuant to the Foreign Exchange Regulations;
Having reviewed Circular Letter D1/2003/2014 of December 10, 2014;
The Banque de la République du Burundi, hereinafter referred to as the "Central Bank", enacts:
Article 1: Purpose
The purpose of this circular is to establish the pricing grid for services provided by the Central Bank in the field of supervision of credit institutions and representative offices established in Burundi.
Article 2: Categories of Tariffed Services
The services tariffed by the Central Bank are subdivided into the following categories:
- file fees;
- fees related to the provision of the list of defaulting clients;
- fees related to the granting of approval acts;
- annual fee (covering all administrative fees for files processed by the Central Bank, including the permanent monitoring of credit institutions).
- Fees related to foreign exchange regulations.
The aforementioned services and the corresponding tariffs are recorded in the grid annexed to this circular.
Article 3: Procedures for Collection of the Annual Fee and Other Fees
The annual fee, as fixed in the grid annexed, is payable by credit institutions and representative offices no later than January 31 of each year.
The annual fee and other fees are collected by automatic debit from the account of the concerned credit institution opened in the books of the Central Bank.
The annual fee and other fees required from representative offices are payable by deposit into the accounts of the Central Bank dedicated to this purpose.
Article 4: Entry into Force
This circular revises Circular No. 25/2018 and enters into force on the day of its publication on the website of the Central Bank and in the Official Bulletin of Burundi.
Done in Bujumbura, on 21/12/2020
Jean CIZA Governor.-
Annex to Revised Circular No. 25/2018: Grid of Tariffs Applicable for Services Provided by the Central Bank in the Field of Supervision of Credit Institutions and Representative Offices Established in Burundi
| Description of Services Rendered | Tariffs in BIF |
|---|---|
| I. Analysis of Files | |
| Application for approval of a credit institution. | 15,000,000 |
| Application for approval of a Manager. | 2,000,000 |
| Application for approval of an Administrator. | 2,000,000 |
| Application for approval of an External Auditor. | 2,000,000 |
| Application for renewal of the mandate of an External Auditor. | 1,000,000 |
| Application for derogation from provisions relating to risk division. | 5,000,000 |
| Application for derogation from deadlines set by the Central Bank in the transmission of financial statements. | 1,000,000 per day of delay in transmission |
| Application for derogation regarding other regulatory provisions. | 2,000,000 |
| Application for approval of a representative office of a credit institution. | 10,000,000 |
| Analysis of an application for relocation of the headquarters of a credit institution or a representative office. | 4,000,000 |
| II. Provision of the list of defaulting clients | 500,000 per month |
| III. Granting of an approval act for a credit institution or a representative office | 25,000,000 |
| Annual supervision fees for credit institutions | 1% of net profit with a minimum of 15,000,000 |
| Annual fee for a representative office | 5,000,000 |
| Application for partnership between a credit institution and a payment institution | 2,000,000 |
| Application for non-objection for the sale of insurance products to their clients | 2,000,000 |
| Application for approval of a credit institution. | 15,000,000 |
| Tariffing of services related to Foreign Exchange Regulations | |
| Application for authorization to invest abroad by residents. | 1,000,000 BIF |
| Application for authorization to invest abroad by Burundian law banks. | 1,500,000 BIF |
| Application for granting of loans (credits) in foreign currency. | 2,000,000 BIF |
| Application for issuance of guarantees in foreign currency | |
| - Amount less than 100,000 USD | 100,000 BIF |
| - Amount between 100,000 USD and 300,000 USD | 1,000,000 BIF |
| Amount greater than 300,000 USD | 2,000,000 BIF |
| Application for derogation for payment before import of goods beyond the authorized ceiling without bank guarantee: | |
| - Amount of more than 100,000 USD to 300,000 USD | 1,000,000 BIF |
| - Amount between 300,001 USD and 500,000 USD | 1,500,000 BIF |
| - Amount between 500,001 USD and 1,000,000 USD | 2,000,000 BIF |
| Amount greater than 1,000,000 USD | 5,000,000 BIF |
| Application for derogation for cash withdrawal from legal entity accounts, outside the cases provided for in Annex VIII of the Foreign Exchange Regulations. | 5% of the amount, at the average rate on the day of receipt of the application by the BRB, not exceeding 2,000,000 BIF |
| Application for derogation for exceeding the norms for the amounts provided for in Annex VIII of the Foreign Exchange Regulations. | 5% of the excess amount, at the average rate on the day of receipt of the application by the BRB, not exceeding 2,000,000 BIF |
| Applications to conclude or validate contracts in foreign currency, in derogation of Article 4 of the Foreign Exchange Regulations. | 1,000,000 BIF |
| Application for authorization to transfer advance payment on payment of services exceeding 50,000 USD without presentation of a bank guarantee. | 1,000,000 BIF |
| Application for authorization for payment of imported goods without DI and without derogation from the BRB. | 2,500,000 BIF |
| Application for authorization regarding other provisions of the Foreign Exchange Regulations or the content of its annexes. | 250,000 BIF |
1, Avenue du Gouvernement - B.P. 705 BUJUMBURA - Tel: (257) 22-20 40 00 / 22 22 27 44 Fax: (257) 223128 - Email: brb@brb.bi