IslamicFinance.de

Islamic banking is gaining a strong footing in Africa with the launch of Islamic banking windows of Coris Bank International in Mali, Senegal, Benin and Côte d’Ivoire. The official launch of Coris Bank Baraka Senegal took place in the presence of the Islamic Corporation for the Development of the Private Sector (ICD) representatives, the Minister of Budget of Senegal, the Deputy CEO of Coris Bank International group and the CEO of Coris Bank International Senegal. The Minister of Budget of Senegal showed appreciation to Coris banking group for launching the Islamic window. ICD as a technical advisor facilitated the launch of Islamic windows in Senegal, Benin and Mali. Further, Coris Bank International and ICD are collaborating together to launch one more Islamic window in Côte d’Ivoire by end of June, 2018.

The Islamic Corporation for the Development of the Private Sector (ICD) and Coris Bank International have entered into a Joint Strategic Collaboration to establish Islamic windows. ICD is assisting Coris Bank International’s subsidiaries in launching four dedicated Islamic windows in Cote d’Ivoire, Mali, Senegal and Benin. The advisory agreement was signed by the CEO of ICD, Mr. Khaled Al Aboodi and Mr. Idrissa Nassa, CEO and Chairman of Coris Bank International. Mr. Nassa stated that the signature of this advisory agreement with ICD aims to achieve the bank's objectives. The current strategy of the group is to implement an Islamic Window in all its banking network. In midterm the group aspires to create sharia compliant subsidiaries.