Guinea-Bissau

Regional rules apply. BCEAO Instruction n°002-03-2018, in force since 21 March 2018, sets the conditions for banks in the eight WAEMU states to do Islamic finance, either as a fully Islamic bank or through an authorised Islamic branch (a window). Companion BCEAO instructions cover microfinance institutions and the technical features of Islamic finance operations. The June 2023 WAEMU uniform banking law has a title on Islamic finance, but it applies in a state only after that state passes it as a national law. In English, the 2018 instruction says it sets the conditions for Islamic finance activities in the West African Monetary Union. National: Financial Afrik reported in August 2026 that Guinea-Bissau had not completed passing the 2023 uniform law, so the 2018 BCEAO instructions apply.

• “La présente instruction a pour objet de définir les conditions d'exercice des activités de finance islamique dans l'Union Monétaire Ouest Africaine.”
  BCEAO · 2018-03-21
• “aux SFD exerçant une activité de finance islamique, entrées en vigueur le 21 mars 2018”
  BCEAO
• “exercer l'activité bancaire islamique soit à titre exclusif, soit à travers une branche dédiée.”
  Commission Bancaire de l'UMOA / BCEAO · 2023-06
• “Aucune transposition aboutie et définitivement consolidée n’a pu être recensée, à ce jour, au Mali, au Niger ni en Guinée-Bissau.”
  Financial Afrik · 2026-08-09 · secondary

• “CORIS BANK INTERNATIONAL SENEGAL, SUCCURSALE DE GUINEE-BISSAU”
  Commission Bancaire de l'UMOA · 2026-06-29
• “Financiamento da compra de equipamentos para um evento específico”
  Coris Bank International Baraka
• “Avenida dos Combatentes de Liberdade da Pátria, perto do Cristo Redentor. Bissau – Guiné-Bissau”
  Coris Bank International Baraka
• “Não há relatório do conselho de conformidade”
  Coris Bank International Baraka
• “01 en Côte d’Ivoire et 00 en Guinée Bissau.”
  L'Economiste du Faso · 2025-04-22 · secondary

Regional rules apply. CIMA, the insurance regulator for its member states, says its Council of Ministers met on 10 October 2019 and adopted a regulation adding a book on takaful insurance to the CIMA insurance code. Financial Afrik gives its number as Règlement n°003/CIMA/PCMA/PCE/2019. We did not read the regulation text itself. Guinea-Bissau is on CIMA's list of member states. We found no takaful operator in Guinea-Bissau.

• “relating to book 9 on the provisions applicable to takaful insurance.”
  CIMA · 2019-10-10
• “Guinée Bissau”
  CIMA
• “le Conseil des Ministres a adopté le 10 octobre 2019, le Règlement N°003/CIMA/PCMA/PCE/2019 portant réglementation des opérations d’assurance Takaful”
  Financial Afrik · 2019-11-07 · secondary

Regional rules apply; there is no separate national securities regulator. UEMOA Regulation n°10/2022/CM/UEMOA covers Islamic financial securities, sukuk issuing companies and sukuk issuing funds. The BCEAO says the UEMOA Council of Ministers adopted the draft at its session of 30 September 2022, and it was published in the UEMOA Official Bulletin n°115 (fourth quarter 2022). The regional market regulator, AMF-UMOA, lists Instruction n°69/2023 on Islamic collective investment schemes, Instruction n°70/2023 on Islamic finance compliance councils for market actors and issuers, and Decision n°CM/15/09/2022 amending the market's General Regulation for Islamic capital markets. Its fund register shows the FCP Tawfir Halal fund (NSIA Asset Management) approved on 7 June 2024; Droit Médias Finance describes it as the second fund approved as compliant with Islamic finance rules on the regional market.

• “un projet de Règlement relatif aux titres financiers islamiques, aux Sociétés d'Emission de Sukuk Autogérées et aux Fonds d'Emission de Sukuk dans l'UEMOA”
  BCEAO · 2022-09-30
• “REGLEMENT N° 10/2022/CM/UEMOA RELATIF AUX TITRES FINANCIERS ISLAMIQUES”
  UEMOA · 2022
• “DECISION N°CM/15/09/2022 - PORTANT MODIFICATION DU REGLEMENT GENERAL RELATIF A L'ORGANISATION, AU FONCTIONNEMENT ET AU CONTROLE DU MARCHE FINANCIER REGIONAL - CAPITAUX ISLAMIQUES”
  AMF-UMOA · 2022-09-15
• “INSTRUCTION N° 69 /AMF-UMOA/2023 RELATIVE AUX ORGANISMES DE PLACEMENT COLLECTIF CONFORMES AUX PRINCIPES ET RÈGLES DE LA FINANCE ISLAMIQUE”
  AMF-UMOA · 2023
• “INSTRUCTION N° 70 /AMF-UMOA/2023 RELATIVE AUX CONSEILS DE CONFORMITE AUX PRINCIPES ET RÈGLES DE LA FINANCE ISLAMIQUE POUR LES ACTEURS ET EMETTEURS”
  AMF-UMOA · 2023
• “FCP TAWFIR HALAL”
  AMF-UMOA · 2024-06-07
• “La décision d'agrément N°AMF UMOA /2024/142 portant agrément du Fonds Commun de Placement TAWFIR HALAL”
  Droit Médias Finance · secondary