Islamic finance is now operational in Côte d'Ivoire. This funding is based on its own rules and ethics and includes sustainably contribute to economic development in Côte d'Ivoire.

The establishment of Islamic finance in Côte d'Ivoire is part of the strategy of innovation, differentiation and financial inclusion in which the Ivorian authorities are part. The objective of this initiative is to offer everyone, Muslims or not, a solution that complies with the rules and principles of Islamic finance and, above all, to reach a significant segment of the population wishing to finance themselves and implement an entrepreneurial project. Indeed, during a press conference on March 14, 2023, the CEO of Coris Bank International CI, welcomed the following words: “Since its launch 5 years ago, we can say that the impact has been quite significant. We think that we have reached a lot of Ivorians with this alternative financing.”

However, Islamic finance is governed by 5 principles that must be respected in order to benefit from its services. “3 prohibited and two obligations. It is a finance without interest and without speculation. The financing of illicit activities (drugs, sale of alcohol, etc.) is prohibited. As a first obligation, the sharing of the loss or benefit that the activity will make profitable, in a participatory manner. The second is to always finance a tangible asset,” said the managing director.