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
Source: BNR and FinScope, 2012.