Beneficial Ownership - Kigali International Financial Centre

This publication focuses on the Kigali International Financial Centre (KIFC) in Rwanda and examines the importance of Beneficial Ownership (BO) laws in ensuring transparency and combating illicit financial flows (IFFs). It explores the vulnerabilities of International Financial Centres (IFCs) in attracting both legitimate business and illicit activities. The policy brief analyzes the recently introduced BO provisions in the Laws Governing Companies, assesses their effectiveness, and identifies areas for improvement. Considering international approaches to BO, the publication emphasizes the need for vigilance in implementing robust BO regulations to prevent corruption and revenue losses. Enhancing transparency in the KIFC is crucial for promoting integrity and deterring illicit financial activities.