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BANKS
AND BANKING SYSTEM
(Source : Official site of the Union of Comoros)

The banking system is currently characterized by 6 banks which have their head office to the place of France in Moroni :

- the Central Bank of the Comoros (BCC), in which the
State of the Union of Comoros and the Bank of France are shareholders and one of its roles is to approve the establishment of new banks.

- the Development Bank of Comoros (BDC),

-
the Federal Bank of Commerce (BFC).

-
the Bank for Industry and Commerce(BIC), a subsidiary of BNP-Paribas,

-
the Exim Bank Comoros Ltd (Exim Bank), a subsidiary of Exim Bank Tanzania,

- the National Company of Post and Financial Services (SNPSF), which is the former National Savings Bank of SNPT.

In addition to these traditional banking institutions, networks of mutual savings banks and credit (Meck and Sanduk) have been developed. These funds provide
local banking services for rural and urban unbanked population.

- The Mutual Savings and Credit of the Comoros (Meck) which are the Savings and Credit component of the Project Support to Economic Grass Roots Initiatives are funded by the State and the International Fund for Agricultural Development.

- The Sanduk were initially funded by the French Development Agency.

There are no other banks.

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