Credit in Comoros: loans, microcredit, leasing and finance

Credit Comoros

In Comoros, credit operates in a market where petit marché bancaire insulaire avec forte importance des revenus réguliers, transferts et garanties. The reference currency is KMF and the monetary or prudential framework involves Banque Centrale des Comores. Finance should always be matched to real repayment capacity.

Demand for finance is linked in particular to commerce, agriculture, pêche, services, transferts. Salaried workers, traders, farmers, business owners and retirees therefore present very different income patterns and should not be assessed in the same way.

A stronger application normally documents identity, address, bank activity, income, existing debts and the purpose of the finance. Total cost should be compared over the full term rather than through the monthly instalment alone.

The country guide below covers mortgages, vehicle finance, personal loans, peer-to-peer lending, cards, microcredit, business finance, leasing, agriculture, students, retirees, school fees and borrowing without salaried employment.