The directors of banks and other financial institutions, without Guinean nationality are leaving Guinea one by one for lack of renewal of their license. This, in accordance with the law of August 2013 on banking regulation of the country.

Indeed, Article 17 stipulates that "unless expressly exempted by the Licensing Committee, no one may direct or manage a credit institution if he does not have Guinean nationality, unless he is a Guinean citizen.unless he or she has legal or regulatory provisions granting reciprocity under an agreement signed between his or her country of origin and the Republic of Guinea. Thus, the Central Bank rejects any renewal of the approval of bank general managers. The Central Bank of Guinea therefore no longer issues to foreign managers of banks and other financial institutions the approval that authorizes them to carry out their functions.

To date, three banks are affected: the Banque Populaire Maroco Guinéenne (BPMG), where the Moroccan Mostafa Dafir had to give up his position at the beginning of June to Ibrahima Kourama, who had been his deputy until then. At United Bank for Africa (UBA) it is Antoine Chérif, DGA since 2018 who takes the place of the chief. At the Islamic Bank of Guinea (BIG), the Senegalese Sidi Dièye will also leave the territory, but before -according to our information- he is actively looking for his successor with the support of the board of directors.