Regulatory Alerts2025-01-01
Regulation No. 2025/BCC/DESM-DRRB on the Establishment of an Usury Rate for Credit Operations
The Central Bank of the Comoros issued Regulation No. 2025/BCC/DESM-DRRB to establish and enforce an usury rate cap for all credit operations conducted by credit institutions and other residents. The regulation mandates that lenders transparently disclose the Effective Global Rate (TEG) and the applicable usury limit to borrowers, with the specific rate determined semi-annually based on weighted averages and risk differentiation. Non-compliance triggers penalties under the Penal Code and banking laws, including the restitution of unlawfully collected sums with legal interest.
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