The National Bank of Rwanda (BNR) has suspended the licensing of new financial service providers that do not take public deposits for six months.

The central bank said the temporary suspension of licensing for non-deposit-taking financial service providers is part of efforts to promote financial sector stability, strengthen regulatory compliance and improve the quality and sustainability of financial services.

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BNR said on Monday, August 24, that the measure is intended to allow the central bank to strengthen the capacity of existing market players, particularly in operational efficiency, professionalism and compliance with regulatory requirements.

The moratorium applies to new applications for licences to operate as lending non-deposit-taking financial service providers. Institutions that are already licensed will not be affected and are expected to continue their operations in compliance with applicable regulations.

Applications submitted before the temporary suspension took effect will also not be affected, BNR said.

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The announcement comes after BNR introduced new regulations governing non-deposit-taking financial service providers, which were published in the Official Gazette on July 17, 2026.

Under the new regulations, minimum capital requirements for some categories of providers were raised. Category I providers are now required to have at least Rwf500 million in paid-up capital, up from Rwf100 million, while Category II providers must have Rwf200 million, up from Rwf50 million.

Existing providers have three years to comply with the new capital requirements.

The new rules also strengthen requirements covering governance, capital adequacy, consumer protection, reporting and market conduct.