Financial System Stability Directorate

There are five departments under this directorate:
  1. Banking Supervision Department
  2. Consumer Protection & Financial Inclusion Department
  3. Financial Policy and Regulation Department
  4. Other Financial Institutions Supervision Department
  5. Payments System Supervision Department
  6. Development & Finance Institutions Supervision Department

This directorate is charged with the supervision and regulation of banks and financial institutions as well as the implementation of economic policies of the Bank.

Departments under this directorate are:-

  1. Banking Supervision

    The department has the following mandate:

    • Ensure the soundness, safety, and stability of the banking system through effective policy development, enforcement of regulations, and robust off-site and on-site supervision. Promotes growth, transparency, accountability, and sound practices in banking institutions while providing critical inputs for policy formulation and fostering customer confidence in the financial system.

  2. Consumer Protection & Financial Inclusion

    The department has the following mandate:

    • Promote consumer confidence in the financial system by developing and implementing an effective Consumer Protection Framework, ensuring fair and responsible market conduct among financial service providers, and enhancing financial literacy through education. Establish and manage redress mechanisms for resolving consumer complaints, conducts consumer compliance examinations to ensure adherence to regulations, and fosters public trust in the financial system.
    • Manage financial inclusion functions.

  3. Financial Policy and Regulation

    The department has the following mandate:

    • Promote and sustain financial system stability through the development of policy frameworks, licensing and approvals, macro-prudential analysis, and the reduction of systemic risks. FPRD provides secretariat support for the FSRCC, facilitates information exchange among regulatory agencies, and drives the implementation of specialized and non-interest banking initiatives.

  4. The department has the following mandate:

    • Conduct of off-site surveillance and on-site examination of Microfinance Banks, Bureaux-de-Change, Development Finance Institutions, Primary Mortgage Institutions and Finance Companies.

  5. Payments System Supervision Department

    The department has the following mandate:

    • To ensure soundness and safety of the Payment system through enforcement of rules/guidelines.
    • To promote sound practices that encourage strong internal controls, transparency and accountability in FINTECHs.
    • To conduct effective offsite and onsite supervision of FINTECHs.
    • To institute a sound monitoring system with the capabilities of early warning signals for the Payments System landscape.

  6. Development and Finance Institutions Supervision

    The department has the following mandate:

    • Conduct of off-site surveillance and on-site examination Bureaux de-Change, Development Finance Institutions and Finance Companies.

    7. See departments under other directorates: