Regulatory Alerts2024-01-01
Regulation N°001-2024/BCC/DRRB on the Conditions and Procedures for the Preparation and Submission of Recovery Plans by Financial Institutions
The Central Bank of the Comores issued Regulation N°001-2024/BCC/DRRB to establish the conditions and procedures for financial institutions to prepare and submit recovery plans. The regulation mandates that credit institutions with a total balance sheet exceeding 10% of the sector's total must develop these plans without relying on state financial support, subject to annual evaluation by the central bank. The first submission of these plans is required by June 30, 2025, with ongoing monitoring indicators due semi-annually.
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