Regulatory Alerts2006-01-01
Regulatory Texts 2006
The Central Bank of the Comores issued Circulars 003, 004, and 005 in 2006 to formally approve the Union of Sanduk d'Anjouan, the Federal Bank of Commerce (BFC), and the National Society of Post and Financial Services (SNPSF) for specific financial activities. Instruction 001/2006/COB authorized the Meck network to conduct euro purchase operations at official parity, requiring full remittance of foreign currency to the Central Bank and monthly statistical reporting. These measures collectively expanded the regulated scope of decentralized financial institutions and foreign exchange transactions within the Comorian territory.
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