Role of CMA

CMA was established by the Law n° 11/2011 of 18/05/2011.

The Authority is responsible for:

  1. Implementing the Government policy on Capital Market;
  2. Preparing draft policies on capital market;
  3. Advising Government on policy relating to the capital market;
  4. Promoting public awareness on the capital market and develop such market;
  5.  Elaborating action plans and conducting studies in order for CMA to achieve its mission;
  6. Formulating principles and regulations for the capital market;
  7. Making regulations governing capital market business in accordance with the Law regulating capital market in Rwanda;
  8. Controlling and supervising all capital market activities with a view to maintain proper code of conduct and acceptable practices on the capital market;
  9. Registering capital market business and related instruments provided for by the Law regulating capital market in Rwanda;
  10. Issuing, suspending, and withdrawing licenses and approvals related to capital market business;
  11. Seeking to achieve fairness, efficiency and transparency in the functioning of the capital market;
  12. Protecting citizens and investors in capital market from unfair and unsound practices or practices involving fraud, deceit, cheating or manipulation;
  13. Monitoring, supervising, and take actions with regard to the compliance with this Law and regulations thereto related as well as with the Law regulating capital market in Rwanda and regulations thereto related;
  14. Co-operating and collaborating with other regulatory bodies in accordance with the provision of the Law regulating capital market in Rwanda;
  15. Consulting concerned organs prior to making any decision to modify principles and regulations of the profession that may have impact on the functioning of the capital market;
  16. Keeping adequately and timely records of decisions made in the accomplishment of CMA mission;
  17. Accomplishing any other mission assigned by the Law regulating capital market in Rwanda.