Regulatory Alerts2015-12-04
Regulation 016 on the Approval of Financial Institutions
The Central Bank of the Comoros issued Regulation 016/2015 to establish the procedural conditions for approving financial institutions under Law 13-003/AU. The regulation mandates specific application requirements, fee structures based on institution type, and a maximum three-year statutory deadline for the Bank to render a final decision. It further requires approved entities to disclose specific registration details on official documents and clarifies that silence does not constitute implicit approval.
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