Regulatory Alerts2015-04-02
Added · Updated
Regulation 015 on the Application of Certain Provisions of Decree 15-026/PR on Payment Systems, Means, and Incidents
The Central Bank of the Comoros issued Regulation 15/2015 to implement specific provisions of Decree 15-026/PR regarding payment systems and incidents. The regulation mandates partial payment of checks when available funds cover at least 40% of the value, requires pre-crossed and non-transferable checks, and establishes fixed penalties for lifting banking bans. All associated fines and stamp duties must be paid to the Public Treasury, with non-compliance subject to disciplinary sanctions under Law 13-003/AU.
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