IMF Staff Country Reports

Rwanda: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, and the FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

September 13, 2005

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International Monetary Fund, and International Monetary Fund. Monetary and Capital Markets Department "Rwanda: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, and the FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism", IMF Staff Country Reports 2005, 309 (2005), accessed November 23, 2024, https://doi.org/10.5089/9781451957075.002

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Summary

This paper analyzes Rwanda’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and the Financial Action Task Force Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism. Rwanda’s economic performance is vulnerable to shocks, in particular a sharp fall in aid flows. The domestic financial sector still faces a poor environment with economic activity concentrated in a few sectors and a weak credit culture. There are serious shortcomings in the accounting and auditing systems and the institutional, legal, and judicial frameworks.

Subject: Banking, Commercial banks, Credit, Economic sectors, Financial institutions, Financial regulation and supervision, Financial Sector, Money, Nonperforming loans, Payment systems

Keywords: Africa, Capital adequacy ratio, Commercial banks, CR, Credit, Credit auction, Financial sector, Foreign exchange, ISCR, Lender-of-last resort facility, Monetary policy, Money market, NBR interest rate management, NBR law, NBR payment systems unit, Nonperforming loans, Risk concentration

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