CENTRAL BANK OF THE COMOROS

REGULATION No. 006/2015/BCC/DSBR

RELATING TO PERIODIC ACCOUNTING STATEMENTS TO BE SUBMITTED BY
CREDIT INSTITUTIONS

Having regard to Law 80-08 of June 26, 1980, relating to currency and the role of the Central Bank of the Comoros in the control of banks and financial establishments, credit, and foreign exchange, Article ;

Having regard to Law No. 13-003/AU of June 12, 2013, regulating the activities of financial institutions, in its Articles 26 and 103;

THE GOVERNOR OF THE CENTRAL BANK OF THE COMOROS Sets the deadlines and formats for reporting accounting situations by credit institutions in application of Law 13-003/AU.

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Article 1: Credit institutions prepare accounting statements and income statements according to the periodicity and following the model fixed by Circular of the Central Bank of the Comoros.

The accounting statements and income statements are finalized on the last day of the last month of the reporting period.

Article 2: The statements are submitted to the Central Bank of the Comoros within a period of 20 calendar days after the date of finalization of the accounts.

Article 3: The statements are prepared in thousands of Comorian francs. Operations in foreign currencies, distributed between currencies of the Franc zone and currencies outside the Franc zone, are converted into Comorian francs based on the rate of the date of finalization. For each currency, operations are distributed between residents and non-residents.

Article 4: The content of the different sections of the accounting statements and income statements is, where applicable, specified by circular of the Central Bank of the Comoros. In case of doubt regarding the classification of certain operations, credit institutions must inquire in writing with the Central Bank of the Comoros. Lines without labels may be used, with the agreement of the Central Bank of the Comoros, to record operations that do not fit into the already identified sections on the statements. Institutions may be required, on their own initiative or at the request of the Central Bank of the Comoros, to detail certain sections in the form of annex statements.

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Place de France. BP 405 MORONI
TEL : (269) 773 18 14 - (269) 773 10 02 – FAX : (269) 773 03 49
E-mail : secretariat@banque-comores.km
Site : www.banque-comores.km

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Article 5: This Regulation annuls and replaces Instruction No. 009/2004/COB and Circular No. 001/2009/COB of January 26, 2009.

This Regulation enters into force as of its date of signature.

Moroni, January 28, 2015

Mzé Abdou Mohamed Chanfiou
(Signature and seal of the Central Bank of the Comoros)

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Place de France. BP 405 MORONI
TEL : (269) 773 18 14 - (269) 773 10 02 – FAX : (269) 773 03 49
E-mail : secretariat@banque-comores.km
Site : www.banque-comores.km