Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

U.S Troops Invade Island
Sydney Morning Herald ^ | 18 Dec., 2001 | Agence France Press

Posted on 12/18/2001 9:46:14 PM PST by Big Bunyip

'US troops' invade island, claim witnesses Troops claiming to be US soldiers landed on the Comoran isle of Moheli early today, seizing control of the security forces on the island, a former prime minister said by phone.

The invaders announced themselves as "the army of the United States" and said their intervention was linked to the fight against terrorism, said residents of the capital Fomboni, including ex-prime minister Mohamed Hassanari.

Telephone links with the island were cut shortly afterwards.

Around 100 armed men described as "white, some of them masked," disembarked at 5:30 am (1330 Australian Eastern Daylight Time).

They quickly took control of the army and police services on the island, the sources reported, without saying whether any fighting took place.

The troops distributed leaflets saying they were a US army force and that their intervention was linked to the September 11 attacks in New York and Washington.

"Your president is collaborating with terrorists, we are here to protect you," the statements read, calling on the local population to surrender their arms.

The identity of the troops remained unclear but a few weeks back locally-produced leaflets were distributed in the Comoran capital Moroni accusing head of state, Colonel Azali Assoumani of having terrorist links.

Moheli is the smallest of the islands in the Comoro archipelago.

A key referendum has been scheduled for December 23 in the Indian Ocean state as part of a reconciliation plan for the islands, which have long been riven by splits and coup attempts.

In the referendum, Comorans will be asked to approve or reject a constitution that gives the country's three islands - Grande Comore, Anjouan and Moheli - a greater degree of autonomy.

Anjouan unilaterally declared its independence in 1997.

Between the referendum and a presidential election due in March, a transitional regime is set to govern, to organise a donor conference and to finalise the devolution of powers to the islands. -- AFP


TOPICS: News/Current Events
KEYWORDS:
Navigation: use the links below to view more comments.
first 1-2021-33 next last
Apologies if this has been posted, but a quick search failed to turn it up. Good if true.
1 posted on 12/18/2001 9:46:14 PM PST by Big Bunyip
[ Post Reply | Private Reply | View Replies]

To: Big Bunyip

The Federal Islamic Republic of the Comoro Islands

 

earth

 


2 posted on 12/18/2001 9:53:20 PM PST by Incorrigible
[ Post Reply | Private Reply | To 1 | View Replies]

To: Big Bunyip
Mercenaries posing as U.S Marines? Makes sense. Why would a God-forsaken tropical island in the middle of nowhere be of interest to President Bush? For the life of me I can't see the U.S be bothered with it and its a scene straight out of "The Mouse That Roared." Only instead of Lilliputistan taking over the U.S without firing a shot we're taking over Lilliputistan to stop terrorism. Yeah right. Next thing we'll read in the paper is the U.S Army landing in Antarctica in search of Al Qaeda fugitives on the lam...
3 posted on 12/18/2001 9:55:01 PM PST by goldstategop
[ Post Reply | Private Reply | To 1 | View Replies]

To: Big Bunyip
something doesnt sound right..."the army of the united states"....hmmm isnt it the "United States Army"???? i dunno about this
4 posted on 12/18/2001 9:55:29 PM PST by MetalHeadConservative35
[ Post Reply | Private Reply | To 1 | View Replies]

To: Big Bunyip; Travis McGee
Good job.
5 posted on 12/18/2001 9:57:47 PM PST by meadsjn
[ Post Reply | Private Reply | To 1 | View Replies]

To: deathscythex
Well, in defense of the odd phrasing, it is from a French wire service via an Australian paper. The paper, the Sydney Morning Herald, is respectable, albeit leaning heavily to the left. So what to make of it? Mercenaries, who knows.

Be nice if it was Osama and Omar's romantic get-away-from-it-all cave by the sea.

6 posted on 12/18/2001 10:00:47 PM PST by Big Bunyip
[ Post Reply | Private Reply | To 4 | View Replies]

To: Big Bunyip
How near is this island to Diego Garcia? The island we are launching the B-52s and B-1B strategic bombers from.
7 posted on 12/18/2001 10:08:46 PM PST by Z-28
[ Post Reply | Private Reply | To 1 | View Replies]

To: goldstategop
Why would a God-forsaken tropical island in the middle of nowhere be of interest to President Bush?

Going way out on a limb, I suggest there may be a bank on that island performing money laundering services for AlQuaida. This is a VERY good reason if true. Maybe we'll soon find out. Maybe not.

8 posted on 12/18/2001 10:11:31 PM PST by Yougottabekidding
[ Post Reply | Private Reply | To 3 | View Replies]

To: Big Bunyip
yeah...it would be nice ...but i dont see that happening ive said it once ill say it again...he's goin to china. if he aint there already..and if he is that puts us at a very bad situation

Heads up arms ready....be ready for chicom

9 posted on 12/18/2001 10:12:24 PM PST by MetalHeadConservative35
[ Post Reply | Private Reply | To 6 | View Replies]

To: Z-28
More info on the island
10 posted on 12/18/2001 10:13:07 PM PST by meadsjn
[ Post Reply | Private Reply | To 7 | View Replies]

To: Z-28
Uhhm...

DELTA would've taken the American embassy first[as if they wouldnt have been evacuated already].

Rangers would've taken the airport.

Marines would've come ashore....

No leaflets would've been required.

11 posted on 12/18/2001 10:16:04 PM PST by VaBthang4
[ Post Reply | Private Reply | To 7 | View Replies]

To: VaBthang4
Watching this space.
12 posted on 12/18/2001 10:20:04 PM PST by abner
[ Post Reply | Private Reply | To 11 | View Replies]

To: Yougottabekidding
Hal9000 reply on a previous thread:

New York Times - September 18, 2001 - NEW YORK - Federal authorities charged on Thursday that the bombing of the U.S. Embassy in Kenya last month was orchestrated by an Islamic extremist from the island nation of Comoros who reported directly to Osama bin Laden , the Saudi exile who is the focus of the worldwide inquiry.
Continued here
13 posted on 12/18/2001 10:22:01 PM PST by LarryLied
[ Post Reply | Private Reply | To 8 | View Replies]

To: deathscythex
I have yet to hear the words "We are from the army of the United States". I always thought that when our troops landed they announce themselves like this:

U.S. MARINES!

Then the local population spends the next three days celebrating.

14 posted on 12/18/2001 10:35:04 PM PST by woofer
[ Post Reply | Private Reply | To 4 | View Replies]

To: big bunyip
Howz this for info?

Map of Comoros

Comoros    Introduction Top of Page
Background: Unstable Comoros has endured 19 coups or attempted coups since gaining independence from France in 1975. In 1997, the islands of Anjouan and Moheli declared their independence from Comoros. In 1999, military chief Col. AZALI seized power. He has pledged to resolve the secessionist crisis through the 2000 Fomboni Accord, a confederal arrangement that the Organization of African Unity has yet to recognize.
Comoros    Geography Top of Page
Location: Southern Africa, group of islands in the Mozambique Channel, about two-thirds of the way between northern Madagascar and northern Mozambique
Geographic coordinates: 12 10 S, 44 15 E
Map references: Africa
Area: total:  2,170 sq km

land:  2,170 sq km

water:  0 sq km
Area - comparative: slightly more than 12 times the size of Washington, DC
Land boundaries: 0 km
Coastline: 340 km
Maritime claims: exclusive economic zone:  200 NM

territorial sea:  12 NM
Climate: tropical marine; rainy season (November to May)
Terrain: volcanic islands, interiors vary from steep mountains to low hills
Elevation extremes: lowest point:  Indian Ocean 0 m

highest point:  Le Kartala 2,360 m
Natural resources: NEGL
Land use: arable land:  35%

permanent crops:  10%

permanent pastures:  7%

forests and woodland:  18%

other:  30% (1993 est.)
Irrigated land: NA sq km
Natural hazards: cyclones possible during rainy season (December to April); Le Kartala on Grand Comore is an active volcano
Environment - current issues: soil degradation and erosion results from crop cultivation on slopes without proper terracing; deforestation
Environment - international agreements: party to:  Biodiversity, Climate Change, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands

signed, but not ratified:  none of the selected agreements
Geography - note: important location at northern end of Mozambique Channel
Comoros    People Top of Page
Population: 596,202 (July 2001 est.)
Age structure: 0-14 years:  42.81% (male 127,955; female 127,267)

15-64 years:  54.26% (male 159,560; female 163,949)

65 years and over:  2.93% (male 8,326; female 9,145) (2001 est.)
Population growth rate: 3.02% (2001 est.)
Birth rate: 39.52 births/1,000 population (2001 est.)
Death rate: 9.35 deaths/1,000 population (2001 est.)
Net migration rate: NEGL migrant(s)/1,000 population (2001 est.)
Sex ratio: at birth:  1.03 male(s)/female

under 15 years:  1.01 male(s)/female

15-64 years:  0.97 male(s)/female

65 years and over:  0.91 male(s)/female

total population:  0.98 male(s)/female (2001 est.)
Infant mortality rate: 84.07 deaths/1,000 live births (2001 est.)
Life expectancy at birth: total population:  60.41 years

male:  58.2 years

female:  62.68 years (2001 est.)
Total fertility rate: 5.32 children born/woman (2001 est.)
HIV/AIDS - adult prevalence rate: 0.12% (1999 est.)
HIV/AIDS - people living with HIV/AIDS: NA
HIV/AIDS - deaths: NA
Nationality: noun:  Comoran(s)

adjective:  Comoran
Ethnic groups: Antalote, Cafre, Makoa, Oimatsaha, Sakalava
Religions: Sunni Muslim 98%, Roman Catholic 2%
Languages: Arabic (official), French (official), Comoran (a blend of Swahili and Arabic)
Literacy: definition:  age 15 and over can read and write

total population:  57.3%

male:  64.2%

female:  50.4% (1995 est.)
Comoros    Government Top of Page
Country name: conventional long form:  Federal Islamic Republic of the Comoros

conventional short form:  Comoros

local long form:  Republique Federale Islamique des Comores

local short form:  Comores
Government type: independent republic
Capital: Moroni
Administrative divisions: 3 islands; Grande Comore (Njazidja), Anjouan (Nzwani), and Moheli (Mwali); note - there are also four municipalities named Domoni, Fomboni, Moroni, and Moutsamoudou
Independence: 6 July 1975 (from France)
National holiday: Independence Day, 6 July (1975)
Constitution: 20 October 1996
Legal system: French and Muslim law in a new consolidated code
Suffrage: 18 years of age; universal
Executive branch: chief of state:  President AZALI Assoumani (since 6 May 1999); note - the interim government of President Tajiddine Ben Said MASSOUNDE, which had assumed power on 6 November 1998 upon the death of President Mohamed TAKI Abdulkarim, was overthrown in a bloodless coup on 30 April 1999

head of government:  Prime Minister Hamada MADI (since late November 2000)

cabinet:  Council of Ministers appointed by the president

elections:  president elected by popular vote for a five-year term; election last held 6 and 16 March 1996 (next to be held NA); prime minister appointed by the president

note:  President AZALI claimed a one-year term at the time of the coup; but elections, promised for spring 2000, were not held

election results:  results of the last presidential election before the coup were: Mohamed TAKI Abdulkarim elected president; percent of vote - 64.3%
Legislative branch: bicameral legislature consists of the Senate (15 seats: five from each island); members selected by regional councils for six-year terms) and a Federal Assembly or Assemblee Federale (43 seats; members elected by popular vote to serve five-year terms); note - the Federal Assembly was dissolved following the coup of 30 April 1999

elections:  Federal Assembly - last held 1 and 8 December 1996 (next to be held NA)

election results:  Federal Assembly - percent of vote by party - NA%; seats by party - RND 39, FNJ 3, independent 1

note:  the constitution stipulates that only parties that win six seats in the Federal Assembly (two from each island) are permitted to be in opposition, but if no party accomplishes that, the second most successful party will be in opposition; in the elections of December 1996 the FNJ appeared to qualify as opposition
Judicial branch: Supreme Court or Cour Supremes (two members appointed by the president, two members elected by the Federal Assembly, one elected by the Council of each island, and others are former presidents of the republic)
Political parties and leaders: Front National pour la Justice or FNJ (Islamic party in opposition) [Ahmed Abdallah MOHAMED, Ahmed ABOUBACAR, Soidiki M'BAPANOZA]; Rassemblement National pour le Development or RND (party of the government) [Ali Bazi SELIM]
Political pressure groups and leaders: NA
International organization participation: ACCT, ACP, AfDB, AFESD, AL, CCC, ECA, FAO, FZ, G-77, IBRD, ICAO, ICRM, IDA, IDB, IFAD, IFC, IFRCS (associate), ILO, IMF, InOC, Intelsat, Interpol, IOC, ISO (subscriber), ITU, NAM, OAU, OIC, OPCW, UN, UNCTAD, UNESCO, UNIDO, UPU, WHO, WMO, WTrO (applicant)
Diplomatic representation in the US: chief of mission:  Deputy Permanent Representative Mahmoud Mohamed ABOUD (acting)

chancery:  (temporary) care of the Permanent Mission of the Federal and Islamic Republic of the Comoros to the United Nations, 420 East 50th Street, New York, NY 10022

telephone:  [1] (212) 972-8010

FAX:  [1] (212) 983-4712
Diplomatic representation from the US: the US does not have an embassy in Comoros; the ambassador to Mauritius is accredited to Comoros
Flag description: green with a white crescent in the center of the field, its points facing downward; there are four white five-pointed stars placed in a line between the points of the crescent; the crescent, stars, and color green are traditional symbols of Islam; the four stars represent the four main islands of the archipelago - Mwali, Njazidja, Nzwani, and Mayotte (a territorial collectivity of France, but claimed by Comoros); the design, the most recent of several, is described in the constitution approved by referendum on 7 June 1992
Comoros    Economy Top of Page
Economy - overview: One of the world's poorest countries, Comoros is made up of three islands that have inadequate transportation links, a young and rapidly increasing population, and few natural resources. The low educational level of the labor force contributes to a subsistence level of economic activity, high unemployment, and a heavy dependence on foreign grants and technical assistance. Agriculture, including fishing, hunting, and forestry, is the leading sector of the economy. It contributes 40% to GDP, employs 80% of the labor force, and provides most of the exports. The country is not self-sufficient in food production; rice, the main staple, accounts for the bulk of imports. The government is struggling to upgrade education and technical training, to privatize commercial and industrial enterprises, to improve health services, to diversify exports, to promote tourism, and to reduce the high population growth rate. Continued foreign support is essential if the goal of 4% annual GDP growth is to be met. Remittances from 150,000 Comorans abroad help supplement GDP.
GDP: purchasing power parity - $419 million (2000 est.)
GDP - real growth rate: 0.5% (2000 est.)
GDP - per capita: purchasing power parity - $720 (2000 est.)
GDP - composition by sector: agriculture:  40%

industry:  4%

services:  56% (2000 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): 3.5% (1999)
Labor force: 144,500 (1996 est.)
Labor force - by occupation: agriculture 80%
Unemployment rate: 20% (1996 est.)
Budget: revenues:  $48 million

expenditures:  $53 million, including capital expenditures of $NA (1997)
Industries: tourism, perfume distillation, textiles, furniture, jewelry, construction materials, soft drinks
Industrial production growth rate: -2% (1999 est.)
Electricity - production: 17 million kWh (1999)
Electricity - production by source: fossil fuel:  88.24%

hydro:  11.76%

nuclear:  0%

other:  0% (1999)
Electricity - consumption: 15.8 million kWh (1999)
Electricity - exports: 0 kWh (1999)
Electricity - imports: 0 kWh (1999)
Agriculture - products: vanilla, cloves, perfume essences, copra, coconuts, bananas, cassava (tapioca)
Exports: $7.9 million (f.o.b., 1999 est.)
Exports - commodities: vanilla, ylang-ylang, cloves, perfume oil, copra
Exports - partners: France 50%, Germany 25% (1998)
Imports: $55.1 million (f.o.b., 1999 est.)
Imports - commodities: rice and other foodstuffs, consumer goods; petroleum products, cement, transport equipment
Imports - partners: France 38%, Pakistan 13%, South Africa 8%, Kenya 8% (1998)
Debt - external: $197 million (1997 est.)
Economic aid - recipient: $28.1 million (1997)
Currency: Comoran franc (KMF)
Currency code: KMF
Exchange rates: Comoran francs per US dollar - 524.41 (January 2001), 533.98 (2000), 461.77 (1999), 442.46 (1998), 437.75 (1997), 383.66 (1996)

note:  prior to January 1999, the official rate was pegged to the French franc at 75 Comoran francs per French franc; since 1 January 1999, the Comoran franc is pegged to the euro at a rate of 491.9677 Comoran francs per euro
Fiscal year: calendar year
Comoros    Communications Top of Page
Telephones - main lines in use: 6,000 (1997)
Telephones - mobile cellular: NA
Telephone system: general assessment:  sparse system of microwave radio relay and HF radiotelephone communication stations

domestic:  HF radiotelephone communications and microwave radio relay

international:  HF radiotelephone communications to Madagascar and Reunion
Radio broadcast stations: AM 1, FM 2, shortwave 1 (1998)
Radios: 90,000 (1997)
Television broadcast stations: 0 (1998)
Televisions: 1,000 (1997)
Internet country code: .km
Internet Service Providers (ISPs): 1 (2000)
Internet users: 800 (2000)
Comoros    Transportation Top of Page
Railways: 0 km
Highways: total:  880 km

paved:  673 km

unpaved:  207 km (1996)
Waterways: none
Ports and harbors: Fomboni, Moroni, Moutsamoudou
Merchant marine: total:  2 ships (1,000 GRT or over) totaling 19,122 GRT/29,817 DWT

ships by type:  cargo 2 (2000 est.)
Airports: 4 (2000 est.)
Airports - with paved runways: total:  4

2,438 to 3,047 m:  1

914 to 1,523 m:  3 (2000 est.)
Comoros    Military Top of Page
Military branches: Comoran Security Force
Military manpower - availability: males age 15-49:  141,120 (2001 est.)
Military manpower - fit for military service: males age 15-49:  83,920 (2001 est.)
Military expenditures - dollar figure: $NA
Military expenditures - percent of GDP: NA%
Comoros    Transnational Issues Top of Page
Disputes - international: claims French-administered Mayotte; the island of Anjouan (Nzwani) has moved to secede from Comoros

15 posted on 12/18/2001 10:41:36 PM PST by bonesmccoy
[ Post Reply | Private Reply | To 13 | View Replies]

To: goldstategop
Mercenaries posing as U.S Marines? Makes sense. Why would a God-forsaken tropical island in the middle of nowhere be of interest to President Bush?

From that island you could put in airstrips and strike the whole east side of Africa .... like Mugabe and crew possibly.

16 posted on 12/18/2001 10:44:59 PM PST by Centurion2000
[ Post Reply | Private Reply | To 3 | View Replies]

Comment #17 Removed by Moderator

To: bonesmccoy
Update on the telecom:
Telecommunications: Anjouan is connected to international via exchanges connected between-them by radio-relay systems. Internet made its appearance with Anjouan in 1999. The installation of a network GSM is in project.

18 posted on 12/18/2001 10:55:43 PM PST by meadsjn
[ Post Reply | Private Reply | To 15 | View Replies]

To: Big Bunyip
I suppose it is plausible. Can we call it the "One Hour Hour" or the "A Little War before Breakfast"? When will take one someone really interesting?
19 posted on 12/18/2001 10:59:37 PM PST by Eternal_Bear
[ Post Reply | Private Reply | To 1 | View Replies]

To: meadsjn
update on the financial info: (from the horse's mouth at http://www.presidence-rfic.com/Pages/francais/le_systeme_bancaire_comorien.html) It's French, so I'll post a translation by Altavista's translation engine:(sorry if the translation sucks...but it's fast and gets the point across if you just read through it).

The banking structure comorien which is very specialized is characterized by 4 principal banking houses including only one commercial bank which is all their seat in the place of France with Moroni: the Central Bank of the Comoros (BCC), the Bank for Industry and the Trade (BIRO), the Bank of Development of the Comoros (BDC) and the National Case of Saving (CNE) attached to the National Company of the Stations and Telecommunications (SNPT



In addition to these banking houses traditional, developed during these last years, of the networks mutualists of credit and savings banks (Sanduk and Meck). These cases offer banking services of proximity bound for a rural and urban population not bancarized. The SANDUK were financed at the beginning the French Case of Development. Meck (Mutual insurance companies of saving and credit of the Comoros) which is the Component Saves and Credit of the Support Project to basic the Economiques initiatives are financed by the Comorien state and the International Bottom of Agricultural Development (FIDA). Before briefly presenting these credit institutions, it is necessary to make a recall of the lawful framework as regards currency, credit and control of the Banks in our country. This framework is defined by the federal laws N° 80-07 and 80-08 of May 3, 1980 which carry regulation of the Banks and Etablissements financial. They also define the role of the Central Bank of the Comoros as regards monetary policy and the credit, of monitoring and control of bankings. These laws fix the minimum capital for a bank at 100 000 000 FC.



With regard to the monetary system, the unit monetary of the Comoros is Honest Comorien (FC). In 1979, the Government comorien signed a monetary cooperation agreement with the French Government. This agreement allowed the integration of the Comoros in the free zone. It set up a system of fixed parities between the Franc comorien and the Franc French (1 FF = 50 FC; 1 FF = 75 FC after the devaluation) and authorized free convertibility between these two currencies. The currency comorienne is guaranteed by the opening of an account of operation of the Issuing house of the Comoros, near the French Treasury by which forwards the whole of the exchange transactions.





1: the Central Bank of the Comoros (BCC)



The BCC it is a publicly-owned establishment whose capital is held by the State comorien and the French State. The statutes of the BCC provide that its Board of directors is composed of 8 members representing with equal shares the State Comorien as of the representatives of the Bank of France and the French State. The function of Assistant Governor of the Central Bank of the Comoros is occupied by a person in charge of the Bank of France. Current Gouverneur of the Central Bank is Mer Said Ahmed Said Ali



In the monetary field, the BCC has the exclusive privilege to emit the metal currency symbols, having legal tender and legal tender capacity on the territory of the Republic. It is charged to take care of the application of the regulation of the banking profession. It lays out for this purpose of a lawful capacity, an administrative capacity and a disciplinary power. It takes care in the organization and the distribution of the credit as well as the control of exchange. Thus it fixes the grid of the debtor rates which currently remain in the range of 11% to 18%. It also fixes the credit rates.



In 1997, the rates of remuneration of the accounts on booklet were brought back from 5% to 3%. The discount rate was fixed at 7% against 8,5% and the remuneration of the deposits of the Treasury with 4,50%.





2: The Bank for Industry and the Trade - the Comoros (BIRO)



It was created in 1982 to succeed the Commercial Bank of the Comoros put in liquidation. Initially its Capital of 300 million FC had set out again between the International Bank for West Africa (BIAO - 51%), the State Comorien (34%) and of the private nationals (15%). In 1990, during the voluntary transfer of the network of the BIAO by its majority shareholder, BNP International acquires the BIRO to reinforce its network in the Indian Ocean. It is about the only commercial bank in the Comoros. It has 5 agencies including two permanent (Moroni and Mutsamudu).



Because of its monopoly, the BIRO collects the majority of the deposits. The BIRO collects as an example 84% of the liquidities and grants the totality of the short-term credits. In spite of a considerable effort of granting of credit of these last years, the BIRO remains in surliquidity. The activities of this bank know a progression on the level of the deposits of customers 12. 147 million FC in 1997. The sight deposits and the savings deposits also know during these last years a strong increase. However the appropriations with the customers are remained stable.





3: The Bank of Development of the Comoros (BDC)



She was created in 1981 to replace the Credit agency for the Development of the Comoros put in liquidation because of her bad financial standing. The law bearing N° 81-026/PR creation of the B.D.C fixed to him like objective to contribute to the development economic of the country through the medium-term financing of the activities of production and the acquisitions of a holding. Its capital of 300 million FC is held by the State comorien (50%), the Central Bank of the Comoros (16,7%) the third remaining is divided into equal shares between the French Agency of Development (16,7%) and the European Investment Bank (16,7%). The BDC intervenes mainly in the sectors of industry, transport and the habitat. The Board of directors is made up of 6 people.



Since its creation, the BDC profited from a significant support on behalf of various backers by the granting of credit limit. The case of the French Agency of Development, the International development association, the European Investment Bank. The resources of the BDC come only from credit limits granted by the international institutions of development assistance. In the plan of the results, since its creation the BDC always released from the positive results although these last years, they were weak.



Nearly 95% of the long-term credits granted to the Comoros are granted by the BDC. These appropriations relate to the sectors of industry, of hotel trade, the craft industry, agriculture. Nearly 1. 409 million FC of appropriations was granted in 1997. The encountered cash shortage these last years by the BDC led this bank to suspend since the second six-month period 1997 very new credit. Currently, the Director of the BDC is Mer Said Abdillah







4: The National Case of Saving



It is a service of the National Company of the Stations and Télécommunication (SNPT). According to the ordinance N° 92-004/PR of bearing 18 August 1992 installation of the statute of the SNPT, the CNE has as an aim " the mobilization of the popular saving ". According to this ordinance " according to the evolution of the resources available, it can be brought to grant appropriations its customers or to ensure in the form of loan, the financing of projects of national interest ".



The CNE manages two products: ordinary booklets of saving and plans of saving credit. However, this last product was a failure and was suspended because of a rate high of unpaid of the granted loans. The collected saving is molten in the treasury of the SNPT. It is placed under the authority of a Director. In the absence of a rigorous management, the CNE known in the past several embezzlements. Thus in 1991, the deposits were used to a total value of 50% to finance the losses of the postal activity. From where a disinterest of the public. Since 1993 the direction of the SNPT put in?uvre measurements aiming at cleansing the CNE. It decided to change the minimum amount of deposit to 20 000 FC. This measurement resulted in to make pass the number of active booklets of 15 000 to 5 000 surroundings. The holders of an account whose saving was lower than 20 000 FC were refunded. This operation of cleansing continues and the CNE is in full convalescence especially in this period of reorganization of the SNPT aiming at separating the Post office, of Telecommunications.





5: Sanduk and Meck



In December 1997, the two networks had creates 39 cases in activities, collected more than 363 million FC of saving, and distributed 320 million FC of appropriations. These cases experience a formidable development and constitute a new component of the banking structure. In 1999 for the only network of the 4 existing mutual insurance companies, meadows of 300 million franc were collected. They continue to take every year gradually a significant share of market in the collection of the liquidities and the distribution of the appropriations to the economy.



As a whole our banking structure even if it is reduced is healthy. The banking houses respect the regulation in force and remain liquid and solvent. However, the existence of only one commercial bank penalizes the economic activity of the country.



Co-ordinates of the banking houses comoriens



The BIC-Comoros, Place of France, B.P 175, Moroni - the Comoros. Such: 73 02 25 / 73 20 43

BDC - Place of France, B.P 298 Moroni the Comoros Such: 73 01 54/73 03 97

BCC, Place of France, B.P 405 Moroni, the Comoros. Such: 73 31 41/73 18 14 / 73 51 68/73 51 87

CNE, SNPT, Place of France B.P 5000, Moroni - the Comoros. Such 73 06 10.

The Meck-Comoros, volo-volo, Moroni, the Comoros. Such: 73 36 40.





(source Ismaël SAADI)

20 posted on 12/18/2001 11:01:32 PM PST by bonesmccoy
[ Post Reply | Private Reply | To 18 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-33 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson