Non Bank Financial Institutions

The National Bank of Rwanda is mandated to regulate and supervise the Non-Bank Financial Institutions (NBFIs) which are mainly insurance and pension sectors.

The main purpose of this mandate is to protect the interest of policy holders and pensioners by ensuring that these institutions are financially sound and stable.

In order to fully execute this mandate, the Bank established NBFIs Department to conduct the day to day monitoring of these institutions by carrying out the on/off site inspections of supervised institutions.

Currently the insurance sector in Rwanda is composed of insurance companies, private and public, insurance intermediaries (insurance brokers, insurance agents and loss adjusters).

All the above are supposed to be licensed by BNR before they commence their businesses and a list of the licensed in published on the BNR Website.

There are a number of regulations that have been worked to ensure that the provision of the insurance law N0 52/2008 are implemented, these are also published on BNR Website.

Likewise as mentioned above BNR is mandated to license the pension players whose supervision and regulatory framework shall be completed after the enactment of the pension law in the Parliament and all the information (law, regulation, Market players) shall be published on the web-site.