Regulatory Alerts2015-02-03
Regulation No. 004/2015/BCC/DSBR on Minimum Social Capital of Financial Institutions
The Governor of the Central Bank of the Comoros issued Regulation No. 004/2015/BCC/DSBR to establish the minimum social capital requirements for various financial institutions under Law 13-003/AU. The regulation mandates specific capital thresholds, such as 1 billion KMF for banks and 25 million KMF for payment establishments, requiring these funds to be fully paid up upon approval. It further stipulates that existing institutions must demonstrate compliance with these minimum capital standards or submit a conformity plan by June 30, 2015.
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