Regulatory Alerts2018-01-01
Regulation No. 001-2018 BCC/DSBR on Minimum Share Capital for Manual Money Changers
The Central Bank of the Comores issued Regulation No. 001-2018 to establish the minimum share capital requirements for manual money changers under Law 13-003/AU. The regulation mandates a total capital contribution of 25 million Comorian Francs, comprising 10 million in cash or bank guarantee and 15 million in specialized asset valuation. This rule modifies previous financial institution regulations and entered into force upon its signature on January 4, 2018.
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