CURRICULUM VITAE I. IDENTIFICATION. Isaac GAFASHA

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1 CURRICULUM VITAE I. IDENTIFICATION Name: Isaac GAFASHA Address: Kigali-Rwanda Mobile: Date of Birth: 15 June, 1969 Nationality: Rwandese II.EDUCATION - August 2006 December 2008: Masters Degree in Business of Laws -National University of Rwanda. The Core courses include inter alia - Banking, Financial and Economic Law, International Trade Law, Investments Law and other Courses related to Business laws. - From 1997 June 2001: Degree in Law at National University of Rwanda. III. SERVICES RENDERED From February 2015 to date: Legal and Compliance Affairs at Rwanda National Investment Trust /RNIT Ltd whereby a number of constitute documents for investment to be made by unit trust were developed such as trust deed for the unit trust, investment policy and offer document etc From July 2012 to June 2014 : consultant at RDB in former Department of Asset and Business Management /ABM. The most of work that I carried out include but not limited to the following: - conduct legal analysis and developing recommendations with respect to legal aspects of privatization of Government assets/enterprises involving RDB and strategic investors; - Conduct or lead negotiations of privatization on behalf of ABM and coordinate negotiations with stakeholders; - Provide advice to former Department of Asset and Business Management /ABM in drafting various contracts relating to privatization such sale and purchase agreement, MOU, shareholding agreement for various privatized companies in various sectors such as tea, tourism, agriculture, media to mention a few. The privatized companies in which I was involved in include but not limited to Mulindi Tea factory, Shagasha Tea Factory, Rwanda Printing and Publishing Company, Savannah Milk Diary, Kirehe Rice Company, Gatsibo Rice Company and Bugesera Rice Company etc.

2 - Coordinate external consultants assigned for developing privatization contracts model, privatization policy, manual, law and other tools; - Handle post privatization issues such review privatization contracts and liquidation documents to recover money that were not paid by debtors for liquidated companies such as SOGETTI, Petro Rwanda, STIR etc.; From 2007 to 2011: Senior Legal Inspector From august 2007 to May 2011: Senior Legal inspector within the Central Bank of Rwanda in the Financial Stability Directorate in charge of drafting laws and regulations for the entire financial sector, drafting legal documents such as agreements, MOUs for BNR and data collection and analysis for policy formulation and performance targets based on understanding of financial sector need and privatesector need such as Micro Finance Institutions, Banks, Insurance companies and Saving and Credit Cooperatives /SACCOs and SMEs and State Attorney for BNR but also in charge of drafting legal technical notes, advices, reports and conducting some studies within the Financial Institutions ( Banks, Insurance Companies) and also representing BNR in legal litigations, arbitration. For BNR, the following are laws and regulations and policies that have I have developed. These are: Law on banking activities of 2008; Regulation on shareholding in banks; Regulation on corporate governance in banks ; Regulation on Minimum internal control and audit standards in banks; Regulation on major investment of banks; Regulation on credit classification and provisioning; Regulation on business continuity management, Regulation on opening and closing a place of business of a bank; Regulation on consolidated supervision; Regulation on mergers and acquisition of banks ; Regulation on liquidity ratio; Regulation on credit concentration and large exposure; Regulation on Insider lending of banks; Regulation on banking placement; Regulation on Foreign exchange exposure limits Regulation on accreditation of external auditors for banks ; Regulation on pecuniary sanctions; Regulation on reporting requirements from banks Risk management guidelines manual ; Law on banking activities;

3 Law on Anti- Money Laundering and combating the financing of terrorism of From November 2006 to August 2007: Director the Legal Services Unit within National Insurance Commission/NIC (Insurance Regulatory Body) which was later shifted to BNR ; From August 2004 to June 2006: Judge in Higher Instance Court of HUYE; From 2003 to July 2004: Legal advisor to Ministry of Trade and Industry In : Preparation of legal documents including MOUs ( Memorandum of Understanding with BNR and other EAC Regulators of banking sector, Pension and Insurance Industry such as Central Bank of Kenya, Bank of Uganda,and Bank of Tanzania, Insurance Regulatory Authority ( Kenya),Retirement Benefits Authority /RBA of Kenya Uganda Insurance Commission and memorandum and articles of association on behalf of investors in financial sector. From 2007 to 2011: drafting risk management guidelines and procedures, policies for Banks, Insurance companies on behalf of BNR and conduct workshop validation and provide a detailed report ; Participating in the elaborating action plan for the implementing the harmonized EAC laws relating to the financial sector including the social security aspects. Drafting a code of conduct and ethics for insurance companies regarding their business IV. TRAINING ACQUIRED In 2004: training for trainers on legal and judicial reforms at Nyanza/ILDP March 2007: training in Accra-Ghana on legal and regulatory framework ( supervision and regulations of insurance companies);

4 July 2008: training in Swaziland Mbabane, on regulation and supervision of Banks and Financial institutions (Insurance, pensions, Collective investments and Micro Finances), organized by MEFMI. March 2009: Training in Kampala on micro insurance business, organized by World Bank; April 2008: Study tour in Nairobi /Kenya respectively on insurance supervision and regulation, pension scheme, capital market and collective investment schemes within Insurance regulatory authority/ IRA, Capital Market Authority / CMA and Retirement Benefits Authority /RBA ; July 2009: study tour in Lusaka Zambia at PIA (Pensions and Insurance Authority), Lusaka Stock Exchange Commission and in other players (Administrators, Investment Companies and Custodians). August 2009: training on risk based supervision of the Banking,Kigali-Rwanda, at mille collines; October to December 2009: Advanced training of insurance activities and supervision, at SFB. From January 2010 to date: In house ongoing training programmes organized by Financial Stability Institute/FSI. These include supervision and regulation of Banks, Insurance companies and other Non Bank Financial Institutions.

5 From June: Seminar on contemporary issues for global financial crisis, law, policy and reforms frameworks for Africa, Kampala, Uganda, organized by the International Law Institute- African Centre for Legal Excellence (ILI-ACLE); From July 26-13August, 2010: Training in Legislative Drafting, Kampala, Uganda, organized by the International Law Institute- African Centre for Legal Excellence (ILI- ACLE). IV. RELEVANT SKILLS AND ACHIEVEMENTS I carried out the following assignments: Conducting privatization or sale of Government assets to foreign investors in the various sectors such as agriculture, tourism, Tea sector etc. The assignment was carried out with ministries (MINAGRI, MINECOFIN, and MINICOM). Provide advice to former Department of Asset and Business Management /ABM in drafting various contracts relating to privatization such sale and purchase agreement, MOU, shareholding agreement for various privatized companies in various sectors such as tea, tourism, agriculture, media.these include Mulindi Tea factory, Shagasha Tea Factory, Rwanda Printing and Publishing Company, Savannah Mild Diary,, Kirehe Rice Company, Gatsibo Rice Company and Bugesera Rice Company; Coordinate external consultants assigned for developing privatization contracts model, privatization policy, manual, law and other tools; Handle post privatization issues such review privatization contracts and liquidation documents to recover money that were not paid by debtors for liquidated companies such as SOGETTI, Petro Rwanda, STIR etc.; Conduct legal analysis and develop recommendations with respect to the legal aspects of on litigations resulting from privatization and investments involving RDB ; Make the follow up of all pending cases in courts and advise BNR accordingly. Provide guidance to and external consultancies from various institutions such as WB and IMF and also supervise any legal work within the Financial Stability Directorate and NBFIs Department; Participate with other colleagues to develop a series of policies regarding the whole financial sector; Identify areas of inspection of financial institutions and advise BNR on what legal action to be taken; Prepare a framework for legal inspection of financial institutions regulated and supervised by BNR for proper conduct of their business in order to ensure that they remain financially sound.

6 Drafting laws and regulations governing the financial sector on behalf of the Central Bank of Rwanda as the regulator of the whole financial system. These include the law governing the organization of insurance business, the draft law governing the collective investment schemes, the draft law governing pension schemes and accounts, the draft law governing insurance contracts, the regulations on capital and licensing requirements of insurance companies and insurance brokers, the regulation on market capacity exemption for foreign insurers, the regulation on external auditors for banks, insurance companies and insurance brokers, the regulation on market conduct for insurance companies, the regulation on prudential and reporting for insurance companies and regulation on corporate governance for insurers, regulation on foreign exchange exposure limits, regulation on banking placement, regulation on insider lending, regulation credit concentration, regulation on cooperate governance of banks and insurer, regulation on liquidity ratio, regulation on pecuniary sanctions applicable to banks and insurance companies, merger and acquisition of insurers and banks, regulation on liquidation and dissolution of banks and insurers. Providing timely appropriate legal opinion and advices to RDB ; Ensuring that all existing laws and regulations are in conformity with existing laws, and propose an amendment if necessary to the regulator for updates or amendment. Conduct on-site inspection as a team leader within the regulated entities to ensure that licensed institutions are financially sound and are in compliance with laws and regulations and make a supervisory inspection report to the management for appropriate action; Prepare and present the TDS (technical discussion series) within the Department to the benefit of colleagues/staff on different areas such as insurance curriculum and ICPs and other useful materials relating to the supervision and regulations of the Financial Institutions. Liaise and work hand in hand with external consultants from USAID, WB and IMF consultants mission and for any other partners such as FIRST Initiative, QUID and from others stakeholders for the compilation and finalizing the report and Strong knowledge of international, regional and national legal instruments with respect to financial sector regulation and supervision (banks- insurance capital markets). V. IT KNOWLEDGE

7 Strong computer skills in Microsoft word, Microsoft Excel, Internet and Power point and fluent in Kinyarwanda, English and French. I hereby declare on my honor and with honesty that the above statements provided are true correct and accurate. GAFASHA Isaac