Regulatory Alerts2017-01-01
Regulation No. 01_2017_BCC_DSBR on Electronic Money
The Central Bank of the Comoros issued Regulation No. 01/2017/BCC/DSBR to establish the conditions and procedures for conducting electronic money activities. This regulation is grounded in national laws governing financial institutions, currency control, anti-money laundering, and payment systems. It formally defines key terms such as 'acceptor' and 'credit institution' to standardize the regulatory framework for electronic money providers.
CENTRAL BANK OF THE COMOROS REGULATION No. 01 /2017/BCC / DSBR REGULATING THE EXERCISE OF ELECTRONIC MONEY ACTIVITIES
Having regard to the Statutes of the Central Bank of the Comoros; Having regard to Law 13-003/AU of June 12, 2013, regulating the activities of Financial Institutions; Having regard to Law 80/08 of June 26, 1980, relating to currency and the role of the Central Bank of the Comores in the control of banks, financial establishments, credit, and foreign exchange; Having regard to Law No. 12-008/AU of June 28, 2012, combating money laundering and the financing of terrorism; Having regard to Decree No. 15-026/PR of March 3, 2015, concerning payment systems, means, and incidents; Having regard to Decree No. 87-005/PR, regulating financial relations between the Federal Islamic Republic of the Comoros and foreign countries; Having regard to Regulations No. 01/2015/BCC/DSBR, No. 17/2015/BCC/DSBR, No. 16/2015/BCC/DSBR, and No. 11/2016/BCC/DSBR of the Central Bank,
The Governor of the Central Bank of the Comoros Sets the conditions and procedures for the exercise of electronic money activities
Article: Definitions
1.1 Acceptor: the provider of goods and services accepting electronic money as payment 1.2 Credit Institution: as defined in Article 3 of the banking law
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