Central Bank of the Comoros

Central Bank of the Comoros
Banque Centrale des Comores (BCC)

Bank logo
Headquarters	Moroni, Comoros
Established	1981[1]
Ownership	100% state ownership[2]
President
Central bank of	Comoros
Currency	Comorian franc KMF (ISO 4217)
Reserves	180 million USD[2]
Preceded by
Website	www.banque-comores.km

The Central Bank of the Comros (French: Banque Centrale des Comores, BCC) is the central bank of the Comoros, a group of islands in the Indian Ocean.

Operations[]

The statutes of the BCC state that its board of directors shall have eight members who are chosen from the Comorian Government, the French Central Bank (Banque de France) and the French government. The post of Deputy Director of the Central Bank of the Comoros is held by a Banque de France official, who is responsible for monetary policy. Since 19 November 1999, all the central bank's official rates have been pegged to the Euro Overnight Index Average (EONIA) leading to a stabilisation of interest rate differentials with the euro.

The BCC applies a compulsory reserves system (30% of deposits) and a bank monitoring system. The headquarters are located in Moroni.

Banking system[]

The Comorian banking system is constituted of six different banks: the Central Bank (BCC); the (BIC-C), the (BDC), the (BFC), the Exim Bank Comores SA and the (SNPSF). In addition, two mutual savings banks (SANDUK and MECK) play a role.

One of the roles of the Central Bank of the Comoros is to approve the establishment of new banks on all three islands of the Union of Comoros (Grande-Comore, Anjouan and Mohéli).

Governors[]

• , director, 1978-1981
• , 1981-1996
• , 1996-2002
• , 2002-2005
• , 2005-2010
• , 2011-

Source: ^[3]

See also[]

• Central banks and currencies of Africa
• Economy of Comoros
• List of banks in the Arab world
• List of central banks
• Comorian franc

References[]

External links[]

• (in French) Official site of Banque Centrale des Comores

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