AFG Bank Cameroon and SID agree for an Islamic financing line of 13 billion FCFA for SMEs

AFG Bank Cameroon and the Islamic Corporation for the Development of the Private Sector (ICD) signed, on June 18, 2026 in Baku, a term sheet on a financing line in accordance with the principles of Shariah of 20 million euros. The envisaged facility is to finance small and medium-sized enterprises in Cameroon, Gabon and Chad, according to a press release issued on July 1, 2026 by SID. The amount corresponds exactly to 13.119 billion FCFA, based on the fixed parity of 1 euro for 655.957 FCFA applied by the Bank of Central African States. However, the signature does not make it possible to conclude that a disbursement has been made. The SID indicates that the term sheet was concluded "with a view to the establishment" of the line. Its press release does not specify the date of mobilization of the funds, nor the maturity of the facility, nor its cost, nor the guarantees requested from AFG Bank Cameroon. If the operation is completed, the resources should be used to finance medium- and long-term projects in agribusiness, transport, energy and health. Their distribution between Cameroon, Gabon and Chad is not indicated. The 13.1 billion FCFA cannot therefore be... Source : Investir au Cameroun — https://www.investiraucameroun.com/finance/1509-23804-afg-bank-cameroun-et-la-sid-s-accordent-pour-une-ligne-de-financement-islamique-de-13-milliards-de-fcfa-destinee-aux-pme