Financial Institutions in Rwanda

Financial Institutions in Rwanda

The financial sector of Rwanda has improved greatly 72% of Rwandan adults are financially included, with 42% of the Rwandan population in the formal financial system (23% served by commercial banks and 33% served by non-bank formal institutions), and 58% use informal financial mechanisms.

The banking sector is comprised of 9 commercial banks, 3 microfinance banks, 1 development bank and 1 cooperative bank

The microfinance sector is comprised of 490 Institutions of which 11 are limited companies and 479 SACCOs (including 416 UMURENGE SACCOs).

There are 12 insurance companies (7 non-life insurers, 3 life insurers and 2 public insurers).

1 public pension fund, the Rwanda Social Security Board and around 40 private pension schemes.

105 operational forex Bureaus

And 1 stock exchange.

The financial institutions in Rwanda have been summarized to include the following

National Bank of Rwanda

Insurance Companies in Rwanda

Insurance Institutions in Rwanda

Commercial Banks in Rwanda

The Institute of Certified Public Accountants of Rwanda (ICPAR)


Source: BNR and FinScope, 2012.