Credit from commercial banks and other financial institutions to individuals and businesses is estimated at several billion dollars. To grant these loans, the banks require solid guarantees. In particular the mortgage. For registration, re-registration and cancellation of the mortgage, the State must collect fees. In the absence of a single centralizing account, the rights owed to the State were reduced or even eluded. An important casting.
To put an end to it, the Minister of Land Affairs, Aimé Molendo Sakombi, and his finance colleague, Nicolas Kazadi, signed an interministerial circular on Friday, November 12, relating to the terms of payment of mortgage registration, re-registration and deregistration fees.
This measure stems from the decision of the 40th meeting of the Council of Ministers of Friday, July 17, 2020 and, aims to centralize at the level of a commercial bank all land transactions relating to the registration, re-registration or delisting of mortgages through the DRC.
« In the present case, this would involve the creation of a dedicated bank account with a single commercial bank to house all the payments relating to these proportional registration rights resulting from the mortgage loans granted to individuals by the banks and other financial institutions in the Democratic Republic of the Congo. This mechanism has the advantage of tracking all payments in real time and drastically reducing revenue leakage. From now on, it would be enough for the inspectors of my ministry to oppose the values of the credits granted to the collection notes issued by the DGRAD to detect any attempt to reduce the fees to be collected by the Public Treasury.“, explained Aimé Molendo Sakombi in an information note addressed to the Council of Ministers.
In the understanding of Minister Molendo Sakombi, the centralization of these banking operations, comes to stop the significant shortfall to which the Congolese state has always been a victim.
« According to data from the Central Bank of Congo on mortgages constituted by the banking sector from 2015 to 2020, the annual credits allocated by commercial banks and other financial institutions would be estimated at several billion USD. As an illustration for mortgage registrations and write-offs valued at USD 2 billion, the shortfall for the public treasury is USD 20 million “, He added in the same briefing note.
Note that this circular signed jointly this Friday fixes in particular the deadline, the elements relating to the administrative procedure and payment of these registration fees, the procedure of registration, re-registration or delisting of mortgages.
« Any Bank or other credit institution which has granted a mortgage loan is obliged to apply for its registration within thirty (30) days of signing the contract. In the event of a mortgage loan contract, this period starts from the signing of the notarized mortgage constitution contract. This period can be extended until the constitution of the mortgage in the event of mortgage loan with promise of mortgage or in the event of mortgage taking following the deterioration of the credit risk granted without a mortgage. », We read in this circular signed by the two sectoral ministers.
And to continue, ” failure to comply with this deadline results in assessment penalties in accordance with Ordinance-Law No. 13/003 of 23 February 2013 reforming the procedures relating to the assessment, control and methods of collecting non-tax revenue as amended and completed to date ».
By establishing a single centralizing account, Aimé Molendo says he is following the instructions of Prime Minister Sama, in accordance with the vision of the President of the Republic, who promotes good governance in order to respond to the social needs of the Congolese.
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