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The Comoros, an island state in the Indian Ocean whose population is almost entirely Muslim and an OIC member since 1976, has a dedicated framework for Islamic finance. A regulation of the Central Bank of the Comoros, based on the 2013 banking law, defines Islamic banks and Islamic windows, requires prior authorisation from the central bank to open them, and requires each institution to have an independent Sharia committee.
The regulation also creates a central Sharia compliance council within the central bank to check that Islamic finance practices conform to Islamic law. This guide lists the institutions behind each part, with their pages on Wasabih.
Yes. A regulation of the Central Bank of the Comoros defines Islamic banks and Islamic windows and sets the conditions for opening them.
Yes. Opening an Islamic window requires prior authorisation from the Central Bank of the Comoros.
Each institution must have an independent Sharia committee, and a central Sharia compliance council within the central bank checks that practices conform to Islamic law.
The Comoros has no separate Halal certification law; exporters, for example of vanilla, cloves and ylang-ylang, should check what their buyers' countries require.
The Comoros has been a member state of the Organisation of Islamic Cooperation since 1976.
Part of the Halal economy in the Comoros?
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