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Central Bank of Comoros




The main bank of Comoros is the Central Bank of the Comoros. This bank is more commonly known as Banque Centrale des Comores (BCC). The operation of Central Bank of the Comoros started in the year of 1961.
The headquarters of Central Bank of the Comoros are positioned in the capital of Comoros, Moroni. The operation of the Central Bank of the Comoros is governed by its Board of Directors, which is comprised of eight members. These eight members are selected from the Government of Comoros, the Government of France and the French Central Bank. The monetary policy of Central Bank of the Comoros is taken care of by its Deputy Director. A French Central Bank official bears the post of the Central Bank of the Comoros' Deputy Director.



To open accounts in Central Bank of the Comoros, one needs to produce the citizenship certificate of Comoros or an employer's certificate in Comoros. For the safety of the wealth of the people of Comoros, the Central Bank of the Comoros has regulated a bank monitoring system and a compulsory reserves system. According to this system, the other banks operating in Comoros need to deposit 30% of the customer's deposits as security value to Central Bank of the Comoros.

To stabilize the interest rate differentials with the Euro, the official rates of Central Bank of the Comoros have been synchronized with the Euro Overnight Index Average. The tourists can find the travelers' cheques from Central Bank of the Comoros. The bank has started the operation of credit/debit cards and ATM counters in the recent times. Monday to Friday are the working days in Central Bank of the Comoros.



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