Rwanda
Ministerial Order appointing Members of the Advisory Committee of the Deposit Guarantee Fund for Banks and Microfinance Institutions and Determining their Responsibilities and Term of Office
Ministerial Order 9-TC16 of 2016
- Published in Official Gazette 45 on 7 November 2016
- Assented to on 1 November 2016
- Commenced on 7 November 2016
- [This is the version of this document from 7 November 2016.]
Article One – Purpose of this Order
This Order appoints members of the Advisory Committee of the Deposit Guarantee Fund for banks and microfinance institutions in Rwanda hereinafter referred to as “fund” and determines their responsibilities and term of office.Article 2 – Members of the Advisory Committee
The Advisory Committee of the Fund is composed of the following members:1°the Director General of Financial Sector Development at the Ministry of Finance and Economic Planning, Chairperson;2°the Executive Secretary of the Rwanda Bankers Association, Vice Chairperson;3°the Director General of the Financial Stability at the National Bank of Rwanda;4°the Director General of the Rwanda Cooperative Agency;5°the Executive Secretary of the Association of Microfinance Institutions in Rwanda;6°the Head of the Fund at the National Bank of Rwanda, Secretary.Article 3 – Responsibilities of the Advisory Committee
The Advisory Committee of the Fund provides technical advice to the management of the National Bank of Rwanda for the Fund’s smooth management and development.In performing its duties, the Advisory Committee of the Fund provides technical advice in the following areas:1°investment of the Fund;2°coverage and contribution rate;3°strategies related to public awareness on the Fund’s activities;4°management of depositors claims;5°policies and regulation in the framework of deposit guarantee development.Article 4 – Meetings of the Committee
Modalities for convening Committee meetings are determined by the Internal Rules and Regulations of the Committee.The Advisory Committee may, where it deems appropriate, invite any person to attend any of its meetings. That person cannot be a director, employee or shareholder of a bank or microfinance institution. He/she must not have been responsible for bankrupt of a financial institution or other company which was placed under liquidation.Article 5 – Remuneration and other benefits
Members of the Advisory Committee of the Fund are not entitled to any remuneration, whether by way of honorarium, salary or other benefits.Article 6 – Repealing provision
All prior provisions contrary to this Order are repealed.Article 7 – Commencement
This Order comes into force on the date of its publication in the Official Gazette of the Republic of Rwanda.History of this document
07 November 2016 this version
Commenced
01 November 2016
Assented to