Regulatory Texts 2006

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CIRCULAR NO. 005/2006/COB

Circular Letter regarding the approval of the Federal Bank of Commerce (BFC)

Having regard to the framework federal law No. 80-08 of May 3, 1980, relating to currency and the role of the Central Bank of the Comoros in the control of Banks and Financial Institutions;

Having regard to Law No. 80-07 of June 26, 1980, regulating Banks and Financial Institutions;

Having regard to Decree No. 87-005/PR of January 16, 1987, regulating financial relations between the Comoros and foreign countries;

Having regard to Order No. 53/MFBEPPE/CAB of the Minister in charge of Finance of July 4, 2006, approving the Federal Bank of Commerce (BFC);

Having regard to the decision of the Board of Directors of the Central Bank of the Comoros in its session of June 8, 2006;

Article 1 The Federal Bank of Commerce (BFC) is approved and authorized to exercise on national territory the activities provided for by the law and current banking regulations.

Article 2 The Federal Bank of Commerce (BFC) is registered in the register of approved Banks and Financial Institutions under the number:

2006-004/AG/B

Moroni, November 20, 2006

COPY [Signature/Stamp: The Vice-Governor, Mzé Abdou Mohamed Chanfiou]

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CIRCULAR NO. 004/2006/COB

Circular Letter regarding the approval of the Union of Sanduk d'Anjouan and Affiliated Institutions

Having regard to Decree No. 04-069/PR regulating the activity of Decentralized Financial Institutions and notably in its articles 5 and 10;

Having regard to Order No. 06-91/MFBEPP/CAB of the Minister in charge of Finance of August 19, 2006;

Having regard to the decision of the Board of Directors of the Central Bank of the Comoros in its session of June 8, 2006;

Article 1 The Regional Union of Sanduk d'Anjouan and the Affiliated Institutions are approved and authorized to exercise on national territory the activity provided for by Decree No. 04-069/PR of June 22, 2004, regulating the activity of Decentralized Financial Institutions.

Article 2 The Registration in the register of Decentralized Financial Institutions is made this day under the number:

2006-003/AG/IFD

Moroni August 28, 2006

[Signature/Stamp: The Governor, Ahamadi ABDOULBASTOI]

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CIRCULAR NO. 003/2006/ COB

Circular taken in application of article 4 of Instruction No. 2 of February 17, 1987 relating to the regulation of exchange.

Having regard to the framework federal law No. 80-08 of May 03, 1980, relating to currency and the role of the Central Bank of the Comoros in the control of Banks and Financial Institutions;

Having regard to Law 80-07 of June 26, 1980, regulating Banks and Financial Institutions;

Having regard to Decree 87-005/PR, regulating Financial relations between the Comoros and foreign countries;

Having regard to Ordinance No. 03-002/PR, relating to money laundering, confiscation and international cooperation in matters of criminal proceeds;

Having regard to Ordinance No. 04-002/PR of February 23, 2004, splitting the National Society of Posts and Telecommunications (SNPT);

Having regard to Decree No. 05-049/PR of June 11, 2005, establishing the statute of the National Society of Posts and Financial Services (SNPSF);

Having regard to Instruction No. 18/2002/RDC of June 25, 2002, relating to exchange operations on the euro carried out by the SNPT;

Having regard to Circular No. 002/2006/COB of March 03, 2006, relating to the exercise of the SNPSF as a Financial Intermediary;

And in application of article 4 of Instruction No. 2 of February 17, 1987, taken in application of Decree No. 87-005/PR regulating relations between the Comoros and Foreign countries, it is decided as follows:

Article 1 The SNPSF is authorized to sell foreign currency to travelers leaving the territory of the Union of the Comoros within the limit of an equivalent value of 750,000 FC (seven hundred fifty thousand Comorian francs), upon presentation of supporting documents (ticket and passport).

Article 2 The SNPSF must justify at all times the nature of these operations and must provide the BCC with the corresponding statistics, in accordance with exchange regulations.

Moroni May 08, 2006

[Signature/Stamp: The Governor, AHAMADI ABDOULBASTOI]

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CIRCULAR NO. 004/2006/COB

Circular Letter regarding the approval of the Union of Sanduk d'Anjouan and Affiliated Institutions

Having regard to Decree No. 04-069/PR regulating the activity of Decentralized Financial Institutions and notably in its articles 5 and 10;

Having regard to Order No. 06-91/MFBEPP/CAB of the Minister in charge of Finance of August 19, 2006;

Having regard to the decision of the Board of Directors of the Central Bank of the Comoros in its session of June 8, 2006;

Article 1 The Regional Union of Sanduk d'Anjouan and the Affiliated Institutions are approved and authorized to exercise on national territory the activity provided for by Decree No. 04-069/PR of June 22, 2004, regulating the activity of Decentralized Financial Institutions.

Article 2 The Registration in the register of Decentralized Financial Institutions is made this day under the number:

2006-003/AG/IFD

Moroni August 28, 2006

[Signature/Stamp: The Governor, Ahamadi ABDOULBASTOI]

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CIRCULAR NO. 005/2006/COB

Circular Letter regarding the approval of the Federal Bank of Commerce (BFC)

Having regard to the framework federal law No. 80-08 of May 3, 1980, relating to currency and the role of the Central Bank of the Comoros in the control of Banks and Financial Institutions;

Having regard to Law No. 80-07 of June 26, 1980, regulating Banks and Financial Institutions;

Having regard to Decree No. 87-005/PR of January 16, 1987, regulating financial relations between the Comoros and foreign countries;

Having regard to Order No. 53/MFBEPPE/CAB of the Minister in charge of Finance of July 4, 2006, approving the Federal Bank of Commerce (BFC);

Having regard to the decision of the Board of Directors of the Central Bank of the Comoros in its session of June 8, 2006;

Article 1 The Federal Bank of Commerce (BFC) is approved and authorized to exercise on national territory the activities provided for by the law and current banking regulations.

Article 2 The Federal Bank of Commerce (BFC) is registered in the register of approved Banks and Financial Institutions under the number:

2006-004/AG/B

Moroni, November 20, 2006

COPY [Signature/Stamp: The Vice-Governor, Mzé Abdou Mohamed Chanfiou]

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INSTRUCTION NO. 001/2006/COB

Instruction relating to euro purchase operations carried out by the Meck network

Having regard to Law 80-07 of June 26, 1980 regulating banks and financial institutions;

Having regard to Law 80-08 of May 03, 1980 relating to currency and the role of the Central Bank of the Comoros in the control of banks, financial institutions, credit, exchange and notably in its article 14;

Having regard to Decree No. 87/005/PR of January 16, 1987 regulating financial relations between the Federal Republic of the Comoros and Foreign countries;

Having regard to Decree No. 04-069/PR regulating the activity of Decentralized Financial Institutions and notably in its article 34;

Having regard to Instruction No. 012/2004/COB relating to the limitation of operations authorized as accessory to Decentralized Financial Institutions in application of Decree No. 04-069/PR of June 22, 2004 and notably in its first article;

Having regard to Order No. 05-92/MFB/CAB approving the Union of Mecks and Affiliated Institutions of October 18, 2005;

Article 1 The Meck network is authorized to carry out euro purchase operations at its counters.

Article 2 These operations will be carried out at the official parity, independently of commissions that may be charged in connection with the transaction.

Article 3 The purchased foreign currency will be fully paid to the Central Bank and the counter-value in Comorian francs will be credited to the account of the Depository Decentralized Financial Institution.

Article 4 A declaration on these operations must be established at the end of each month in accordance with the attached model and submitted to the Central Bank within a period of 20 calendar days after the date of the situation statement.

Article 5 This instruction enters into force as of its date of signature.

Moroni June 28, 2006

[Signature/Stamp: Mzé Abdou MOHAMED CHANFIOU, Vice-Governor]

==Screenshot for page 7== Declaration of euro exchange operations

Name of the Institution: Union of Mecks

Month:

	Moroni	Mbéni	Foumbourni	Mitsamiouli	Ivembeni	Fomboni	Mutsamudu	Domoni	Sima	Quani	Mitsoudjé	Total
Purchase (in euros)
Counter-value FC
Commission
Sale (in euros)
Counter Value FC
Commission

Date:

Visa:

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