The Nationwide Financial institution of Rwanda (BNR) has suspended the licensing of recent monetary service suppliers that don’t take public deposits for six months.
The central financial institution stated the short-term suspension of licensing for non-deposit-taking monetary service suppliers is a part of efforts to advertise monetary sector stability, strengthen regulatory compliance and enhance the standard and sustainability of monetary providers.
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BNR stated on Monday, August 24, that the measure is meant to permit the central financial institution to strengthen the capability of current market gamers, significantly in operational effectivity, professionalism and compliance with regulatory necessities.
The moratorium applies to new purposes for licences to function as lending non-deposit-taking monetary service suppliers. Establishments which can be already licensed won’t be affected and are anticipated to proceed their operations in compliance with relevant laws.
Functions submitted earlier than the short-term suspension took impact may also not be affected, BNR stated.
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The announcement comes after BNR launched new laws governing non-deposit-taking monetary service suppliers, which have been revealed within the Official Gazette on July 17, 2026.
Beneath the brand new laws, minimal capital necessities for some classes of suppliers have been raised. Class I suppliers are actually required to have no less than Rwf500 million in paid-up capital, up from Rwf100 million, whereas Class II suppliers will need to have Rwf200 million, up from Rwf50 million.
Current suppliers have three years to adjust to the brand new capital necessities.
The brand new guidelines additionally strengthen necessities masking governance, capital adequacy, client safety, reporting and market conduct.
