Regulatory Alerts2013-01-01
Banking Law No. 13-003/AU of June 12, 2013
The President of the Union of the Comores promulgates Banking Law No. 13-003/AU, which establishes the legal framework for credit institutions and financial intermediaries operating within the territory. The law defines the scope of application, classifies financial entities, and mandates prior authorization from the Central Bank of the Comores for establishment, management, and significant corporate changes. It further outlines prudential supervision, regulatory powers, and disciplinary measures to ensure financial stability and protect depositors.
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