Banking License

  1. The validity of this Licence shall expire on the date specified overleaf or on the date the licensee ceases to remain incorporated in the Autonomous Island of Anjouan, Union of Comoros whichever is earlier, unless the licence is revoked earlier by the Anjouan Offshore Finance Authority.
  2. This Licence is subject to any variations of the “Government Notice No 004 of 2005” or “The Government Notice No. 5 of 2005”.
  3. The objects and purposes of the Company is to offer different banking services for corporate, private banking for the general public and non-residents of the Autonomous Island of Anjouan, Union of Comoros; to carry on all or any of the business of a company and, without prejudice to the generality of the foregoing, to carry on, in conjunction with each other or as separate and distinct undertakings, all or any of the following businesses:
    1. To accept cash deposits of any type (depositary transactions).
    2. To provide loans and borrow funds (loan transactions).
    3. To carry out currency and exchange transactions.
    4. To issue securities and credit cards processing.
    5. To provide securities safekeeping, manage securities and accomplish securities purchase or sale.
    6. To act as intermediary in securities trading.
    7. To provide guarantees of any type (guarantee business).
    8. To effect payments (opening of accounts for legal entities and individuals).
    9. To hold assets, capital, precision metals, bonds, shares or another financial instruments for third parties.
    10. To undertake electronic commerce (e-commerce).
    11. To provide other financial services.
  1. The Licence shall ipso facto and without any prior notice stand cancelled, if any of the following events take place:
  1. The Company shall not engage in any activity that is prohibited by or contrary to any enactment or rule of law for the time being in force in Autonomous Island of Anjouan, Union of Comoros.
  2. The Company is an International Company and accordingly shall not, except as may be permitted by its approved Constitution:
    • Carry on business in Autonomous Island of Anjouan, Union of Comoros (other than banking) or own an interest in immovable property situation in Autonomous Island of Anjouan, Union of Comoros other than a lease of premises from which to carry on its business;
    • Carry on insurance, sea or air transport, gambling, or other licenses business without a specific licence.
    • At any time have less than one Director or one member.
    • Make any invitation to the public to subscribe for any shares or debentures in the Company.
  1. For the purposes of subparagraph (2) (a) the Company shall not be treated as carrying a business in Anjouan by reason only that it:
    • Carries on business with another company incorporated under the Act or in furtherance of the business of the Company carried on outside Anjouan.
    • Leases premises from which to carry on its business as permitted by the Act;
    • Makes or maintains deposits with a person licensed to carry on banking business in Anjouan;
    • Obtains professional services from its registered agent, counsel, attorneys, accountants, bookkeepers, trust companies, management companies, investment advisers, insurance brokers or agents or other similar persons carrying on business within the Autonomous Island of Anjouan, Union of Comoros
    • Prepares or maintains its books or records within the Autonomous Island of Anjouan, Union of Comoros.
    • Holds meetings within the Autonomous Island of Anjouan, Union of Comoros of its directors or members.
    • Holds shares, debt obligations or other securities, in a company incorporated under the Act;
    • Issues shares, debt obligations or other securities in a company incorporated under the Act or under the Companies Act.
    • If the renewal payment is not received on the due date the License and IBC will be revoked
  1. The persons conducting the business of the Bank shall hold themselves personally, jointly and severally liable for all the acts or commissions, irregularities and violations committed by them after such cancellation.

  1. The persons conducting the business of Bank shall produce at each anniversary of the date of incorporation from the police of the area in which the principal place of business of the Bank is situated, certificates of absence of their involvement in criminal proceedings.

  2. If the renewal payment is not received on the due date the Company and the license will be suspended.
  3. If there is any change in the company, including share capital, appointment or removal of Directors or Shareholders, this must be approved by the Anjouan Registrar of International Business companies
  1. Accepting this Licenses confirms you have read and agreed to the terms and conditions of this Banking License.
  1. Terms and Conditions can be amended at any time by the Registrar of International Business Companies

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