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Comoros
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The Central Bank of the Comoros acts as a regulator of the financial industry in the Comoros. The headquarters are located in Moroni and its current Governor is Mer Said Ahmed Said Ali .

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).

The statutes of the Central Bank of the Comoros (Banque Centrale des Comores / البنك المركزي القمري Al-Bank al-Markazi al-Qomori) 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 stabilization of interest rate differentials with the euro. The BCC applies a compulsory reserves system (30% of deposits) and a bank monitoring system.

Comoros Banks

The list of commercial banks operating in the Comoros includes: Development Bank of Comoros, Federal Bank of Commerce, Bank for Industry and Commerce, Exim Bank Ltd Comoros and Societe Nationale des Postes et Services Financiers.

Other mutual savings banks in Comoros includes: Meck and Sanduk.

Currency

The Comorian Franc (currency symbol: CF, currency code: KMF) is the Comoros’s currency. It is subdivided into 100 centimes, although no centime denominations have ever been issued. The banknotes in circulation are 500, 1,000, 2,000, 5,000, 10,000 francs.

Comorian banknotes are manufactured by the Banque de France at their paper mill in Vic-le-Comte and their printing works in Chamalières, both in Puy-de-Dôme, Auvergne. The new 500, 1000, and 2000 franc notes contain the EURion constellation.

The Comorian Franc per euro rate is 496.05 (2010) and the inflation rate in 2007 was 3%.


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