{"id":119723,"date":"2026-02-13T18:40:27","date_gmt":"2026-02-13T18:40:27","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/mps-approve-bill-reforming-central-bank-operations"},"modified":"2026-02-13T18:54:35","modified_gmt":"2026-02-13T18:54:35","slug":"mps-approve-bill-reforming-central-bank-operations","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations","title":{"rendered":"MPs Approve Bill Reforming Central Bank Operations"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>The Chamber of Deputies on Thursday, February 12, approved the relevance of a new bill seeking to reform operations of the National Bank of Rwanda (BNR), in a move aimed at strengthening the Central Bank\u2019s independence and aligning it with international standards.<\/p>\n

The relevance of the bill was approved by 68 lawmakers out of the 69 present, with one abstention.<\/p>\n

Tabling the bill, the Minister of Finance and Economic Planning Yusuf Murangwa said a 2024 assessment conducted by the Government of Rwanda in partnership with the International Monetary Fund (IMF) revealed gaps in the existing law governing the central bank.<\/p>\n

\u201cWhile the current law has served the country well, the assessment showed areas that required improvement to match modern central banking standards and international best practices,\u201d Murangwa told lawmakers.<\/p>\n

Key changes introduced<\/p>\n

One of the major reforms concerns the recapitalisation mechanism of the central bank. Murangwa said the existing law does not provide a clear framework for recapitalising BNR in the event of capital erosion, a gap the new bill seeks to address.<\/p>\n

The bill also strengthens legal protections for BNR leaders, staff and members of decision-making organs, ensuring they are not interfered with while exercising their official duties.<\/p>\n

According to the minister, the current law does not sufficiently guarantee this operational independence.<\/p>\n

Another key reform limits the delegation of powers by the BNR Board. While the existing law allows the Board to delegate some supervisory powers to the Governor, the new bill clearly defines the boundaries of such delegation to preserve the Board\u2019s oversight role.<\/p>\n

The legislation further introduces a three-month deadline for appealing BNR decisions, a move intended to prevent appeals from being filed indefinitely.<\/p>\n

In addition, the bill raises the qualifications required for Board members and adjusts the number of members to ensure a broader mix of skills and expertise.<\/p>\n

It also sets clear timelines for appointing the Governor, Deputy Governor and Board members. While the current law provides for their appointment by presidential order and outlines grounds for removal, it does not specify deadlines for filling vacancies.<\/p>\n

To enhance the central bank\u2019s independence, the bill limits the number of public servants on the Board to 30 per cent, excluding the Governor, Deputy Governor and one member drawn from higher education or research institutions.<\/p>\n

The proposed law further makes the establishment of a Board audit committee mandatory, a requirement absent in the current legal framework.<\/p>\n

Another reform strengthens the Monetary Policy Committee and the Financial Stability Committee by making the inclusion of non-BNR members mandatory in both bodies, a move aimed at reinforcing their independence and effectiveness.<\/p>\n

The bill also clarifies BNR\u2019s role in protecting the Rwandan franc, while reaffirming that the authority to establish the national currency remains vested in the President, as stipulated by the Constitution.<\/p>\n

Additionally, it expands BNR\u2019s mandate to protect not only foreign currency but also other financial assets of monetary value, reflecting the growing complexity of Rwanda\u2019s financial sector.<\/p>\n

Lawmakers\u2019 concerns<\/p>\n

MP Germaine Mukabalisa questioned the rationale behind introducing deadlines for presidential appointments, asking whether previous delays had prompted the change. She also sought clarification on whether reducing the number of public servants on the Board was meant to address concerns over limited institutional independence.<\/p>\n

Responding, Murangwa said the reforms were not prompted by past failures but were meant to strengthen governance going forward.<\/p>\n

\u201cThese changes are forward-looking. They are designed to prevent potential challenges and ensure strong institutional governance in the future,\u201d he said.<\/p>\n

For More News And Analysis About Rwanda<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. The Chamber of Deputies on Thursday, February 12, approved the relevance of a new bill seeking to reform operations of the National Bank of Rwanda (BNR), in a move aimed at strengthening the Central Bank\u2019s independence and aligning it with international standards. The relevance of the bill was approved by 68 lawmakers […]<\/p>\n","protected":false},"author":84,"featured_media":119722,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[2327,758],"class_list":["post-119723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-bnr","tag-rwanda"],"yoast_head":"\nMPs Approve Bill Reforming Central Bank Operations - Rwanda<\/title>\n<meta name=\"description\" content=\"The Chamber of Deputies on Thursday, February 12, approved the relevance of a new bill seeking to reform operations of t ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MPs Approve Bill Reforming Central Bank Operations\" \/>\n<meta property=\"og:description\" content=\"The Chamber of Deputies on Thursday, February 12, approved the relevance of a new bill seeking to reform operations of t ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-13T18:40:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-13T18:54:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2026\/02\/sm_1770996238.883672.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"648\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"MPs Approve Bill Reforming Central Bank Operations\",\"datePublished\":\"2026-02-13T18:40:27+00:00\",\"dateModified\":\"2026-02-13T18:54:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations\"},\"wordCount\":594,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2026\/02\/sm_1770996238.883672.jpg\",\"keywords\":[\"BNR\",\"Rwanda\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/mps-approve-bill-reforming-central-bank-operations\",\"name\":\"MPs Approve Bill Reforming Central Bank Operations - 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