Règlement N° 003 de 2024 relatif aux activités des agents commerciaux en opérations de banque et services de paiement (Regulation No. 003 of 2024 on the Activities of Commercial Agents in Banking Operations and Payment Services) (Burundi)

Regulation No. 003 of 2024 of the Banque de la République du Burundi (BRB) governs the activities of commercial agents in banking operations and payment services (agents commerciaux en opérations de banque et services de paiement). Agent networks are central to the delivery of mobile money and digital financial services, handling cash-in, cash-out, registration, transfers and bill payments on behalf of banks and payment establishments, and this Regulation brings agency arrangements under formal BRB control as part of the 2024 payment-services framework. Scope and applicability: the Regulation applies to banks and payment establishments that engage agents, and to the agents themselves. It provides for the appointment and approval of agents, the terms of agency agreements, the responsibilities of the principal institution, and the permitted and prohibited activities of agents. Core obligations: a principal institution must conduct due diligence on prospective agents, enter into written agency agreements, and remains fully responsible to customers for the acts and omissions of its agents. Agents must meet eligibility requirements, display clear branding and disclosures, maintain transaction records, and comply with AML/CFT obligations including customer due diligence at the point of service. The Regulation typically addresses agent non-exclusivity or the conditions under which agents may serve multiple principals, transaction limits, liquidity/float management, data protection, and consumer-protection safeguards. Principals must train, monitor and supervise their agents and maintain agent registers. Supervision and enforcement: the BRB supervises agent networks through the reporting and oversight obligations of principals, may inspect agent operations, and may require termination of non-compliant agents or sanction principals for failures in agent oversight. Read together with Regulation No. 002 of 2024 (payment services) and Circular No. 001 of 2024 (electronic money), this Regulation completes the BRB's 2024 framework and supports the expansion of accessible, supervised digital financial services across Burundi.

1. 1Governs appointment, approval and conduct of commercial agents in banking operations and payment services
2. 2Principals must conduct agent due diligence and enter written agency agreements; principal remains liable for agent acts and omissions
3. 3Agent eligibility, branding/disclosure, record-keeping and AML/CFT (including point-of-service CDD) requirements
4. 4Addresses agent multi-principal conditions, transaction limits, float/liquidity, data protection and consumer protection
5. 5Principals must train, monitor, supervise and maintain registers of agents
6. 6BRB may inspect agents, require termination of non-compliant agents and sanction principals for oversight failures