Coris Bank launches Islamic banking services in Chad

Coris Bank International has introduced its Baraka Islamic banking window in N’Djamena, Chad. This specialized service operates within the bank’s existing framework rather than as a separate institution, allowing it to offer products that comply with Islamic finance principles alongside its conventional banking activities.

Managing Director Fidèle Toko stated that funds and operations for the Islamic branch will be strictly separated from conventional activities to ensure regulatory compliance and adherence to religious principles. The launch comes approximately 16 months after Coris Bank officially began operations in Chad in June 2025.

The initiative aims to increase financial inclusion in a market where the banking penetration rate is estimated at only 2.85% as of 2026. By offering Sharia-compliant services, the bank seeks to reach segments of the population currently outside the formal financial system, including workers in the informal sector, which represents over 80% of employment in the country.