Regulatory Alerts2015-12-09
Regulation 019 on Organizational Provisions for Decentralized Financial Institutions
The Central Bank of the Comoros issued Regulation No. 19/2015 to establish organizational rules for Decentralized Financial Institutions (IFDs) under Law No. 13-003/AU. The regulation mandates that IFDs adopt legal forms recognized by OHADA uniform acts, specifically requiring cooperative societies to utilize the board of directors structure. It entered into force upon signature on November 30, 2015, granting institutions a one-year compliance period while abrogating conflicting prior provisions.
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