Guinea
Banque Islamique de Guinée is on the central bank's list of licensed banks and offers named Islamic financing (Moudaraba, Moucharaka, Mourabaha) on the website that list gives for it. Coris Bank, also on the list, launched an Islamic branch in Conakry in May 2025, although no general Islamic banking regulation was found.
Five checks
Banking rulesNot checked
We found no BCRG regulation, instruction or law dedicated to Islamic or non-interest banking. The BCRG's December 2017 compilation of banking texts contains no Islamic finance provisions. A 2019 BCRG supervision report cites Law n°011/APN/83 of 17 February 1983 as the authorising text for Banque Islamique de Guinée; we did not read that law. In June 2021 the BCRG said it had sent two staff to the BCEAO to learn from WAEMU's Islamic finance rules. Guinea has its own central bank, so the BCEAO rules do not apply.
- “RECUEIL DES TEXTES LEGAUX ET REGLEMENTAIRES REGISSANT L’ACTIVITE BANCAIRE ET FINANCIERE EN REPUBLIQUE DE GUINEE”
Banque Centrale de la République de Guinée · 2017-12 - “la BCRG avait envoyé deux cadres à la BCEAO pour s’inspirer de l’expérience de l’UEMOA”
Banque Centrale de la République de Guinée · 2021-06-23 (date of the audience)
Licensed banks and windowsFound
- Banque Islamique de Guinée (BIG) · full bankMoudarabaMoucharakaMourabaha
- Coris Bank International Baraka Guinée (Islamic branch of Coris Bank International Guinée) · windowMourabaha Financement (particuliers)Wadi'a (particuliers)Moudaraba : compte d'investissement
- “BANQUE ISLAMIQUE DE GUINEE - BIG”
Banque Centrale de la République de Guinée · 2023-03 (upload folder) - “Site web : www.ta-holding.com/Guinée”
Banque Centrale de la République de Guinée · 2023-03 (upload folder) - “Email : corisbank-gn@coris-bank.com”
Banque Centrale de la République de Guinée · 2023-03 (upload folder) - “BANQUE ISLAMIQUE DE GUINÉE (BIG) LOI N°011/APN/83 DU 17 FÉVRIER 1983”
Banque Centrale de la République de Guinée · 2019 - “BIG : Banque Islamique de Guinée”
Banque Centrale de la République de Guinée · 2023-12 - “les financements suivants: Moudaraba Moucharaka Mourabaha”
Banque Islamique de Guinée (Tamweel Africa Holding site) - “Financement de l’achat de vos équipements en vue d’un événement particulier”
Coris Bank International Baraka - “le lancement de sa branche finance islamique sous la dénomination Coris Bank International Baraka Guinée”
Coris Bank International Guinée · 2025-05-20 - “quartier Almamya BP 3048 Guinée Conakry”
Coris Bank International Baraka - “un financement par lequel elle achète une marchandise pour le compte du client”
Guinéenews · 2021-07-30 · secondary
Sukuk issuedNot checked
Takaful (non-interest insurance)Not checked
We found no takaful rule. Guinea is not on CIMA's list of member states, so the CIMA takaful regulation does not apply. Press reports of a SAAR Takaful product (2020-2021) were not confirmed.
Capital market rulesNot checked
Guinea has no operating stock exchange or securities regulator, so there is no capital-market rulebook to search. Financial Afrik reported on 4 March 2026 that the BCRG has started work to create a national securities exchange. No Islamic capital-market rule was found.
- “la Banque centrale a initié le processus de création d’une Bourse des valeurs mobilières de la République de Guinée”
Financial Afrik · 2026-03-04 · secondary
Recent developments
- 2026-03-21Financial Afrik reported that a private firm (NOMAD AFIIP) proposed to the Minister of Economy and Finance a possible US$500 million sukuk. This is a private proposal, not an official announcement or issue. source
- 2026-03-04Financial Afrik reported that the BCRG Governor announced work to create a national securities exchange. source
- 2025-05-20Coris Bank International Guinée announced the launch of its Islamic branch, Coris Bank International Baraka Guinée, with premises in Conakry. source
Still open
Points we could not confirm at source yet.
- What does Law n°011/APN/83 of 17 Feb 1983 (cited for BIG) provide? Not read.
- Under which Guinean rule is the Coris Islamic branch authorised? No BCRG text on Islamic windows was found.
- The BCRG list of licensed banks was uploaded in March 2023; a newer list was not found.
- The Coris Baraka Guinée site uses the group template; its certificate and report pages show items from other countries (a Burkina report, a 2018 certificate) and do not by themselves show Guinean activity. The launch post and Conakry address are the country-specific evidence.
- SAAR Takaful (reported 2020-2021) status unknown; the Guinean insurance regulator was not checked.
- No government sukuk search was done at the finance ministry; sukuk left open.
- BIG's financing page carries no date (the site footer says 2026, and the group home page shows older news), so the product list may not be fully current.
Where we searched
- bcrg-guinee.org: list of licensed banks (2023), supervision reports 2019 and 2023, compilation of banking texts (Dec 2017), 2017 inclusive financial institutions law, Governor audience page
- big-bank.com: shows a web host's placeholder page saying the site is being set up; the BCRG list gives BIG's site as www.ta-holding.com/Guinée, which was read (financing, accounts and savings pages)
- guinee.coris.bank and guinee.corisbankbaraka.com (launch post, product, contact, certificate and report pages)
- cima-afrique.org member states page (Guinea not listed)
- Financial Afrik; Guinéenews, Atlas Mag, Ecofin used as leads
- No securities regulator exists to search