Bank in Burkina Faso to introduce Islamic banking
Burkina Faso’s Coris Bank International (CBI) has decided to open a window dedicated to Islamic financing in the West African country in early 2014. According to the bank, this will be possible due to the support of the Islamic Corporation for the Development of private Sector (ICD), an affiliate of the Islamic development Bank (BID). The CBI would be the first Burkinabe bank to introduce Islamic banking. According to the bank, this would enable it to set up in parallel institutions for the provision of financial products to its customers on the basis of the Islamic regulations. There are plans to replicate this project in other countries where CBI is operating.
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