Anjouan, also known as Ndzuwani, is one of the main islands of the Union of the Comoros, located in the Indian Ocean between Madagascar and the African mainland. Often referred to as “The Pearl of the Comoros,” Anjouan is known for its mountainous terrain, lush vegetation, and scenic coastline. The island spans approximately 424 square kilometers and is home to the historic capital city of Mutsamudu. Anjouan plays a key role in the country’s economy through agriculture, fishing, and emerging offshore financial services. Its unique blend of natural beauty, cultural heritage, and strategic location makes it a vital part of the Comoros archipelago.
The Anjouan Offshore Finance Authority (AOFA), established in 2001, serves as the principal regulatory authority overseeing the financial sector in Anjouan, Comoros. Operating in accordance with the provisions of the Comoros Constitution of 2001, AOFA is committed to maintaining the highest standards of integrity, transparency, and professionalism in the regulation of financial activities within the jurisdiction.
The core objectives of AOFA are as follows:
This website serves as an authoritative resource for individuals, businesses, and institutions seeking to engage with the financial sector in Anjouan. It provides comprehensive information on regulatory guidelines, licensing procedures, compliance requirements, and other essential resources. AOFA’s commitment to transparency, professionalism, and collaboration is reflected in its dedication to maintaining a secure and competitive financial environment.
The core objectives of AOFA are as follows:
- Regulation and Oversight of the Financial Sector: AOFA is responsible for ensuring that all financial operations within Anjouan are conducted in a responsible, transparent, and compliant manner. It enforces a comprehensive regulatory framework that upholds the principles of sound financial governance, safeguarding the interests of stakeholders and promoting stability within the financial system.
- Promotion of Sustainable Economic Growth: By fostering a robust financial environment, AOFA plays a crucial role in supporting long-term economic development. Its regulatory efforts are designed to encourage responsible investment, facilitate market access, and create an ecosystem conducive to sustainable growth.
- Prevention of Financial Crime: AOFA is dedicated to protecting the financial system from illicit activities, including money laundering. In line with the Money Laundering Prevention Act (Government Notice 008 of 2005), the Authority ensures that all financial institutions comply with stringent anti-money laundering (AML) measures, thereby reinforcing the integrity and security of the financial sector.
This website serves as an authoritative resource for individuals, businesses, and institutions seeking to engage with the financial sector in Anjouan. It provides comprehensive information on regulatory guidelines, licensing procedures, compliance requirements, and other essential resources. AOFA’s commitment to transparency, professionalism, and collaboration is reflected in its dedication to maintaining a secure and competitive financial environment.
The Autonomous Government Of The Island Of Anjouan
About Anjouan Offshore Finance Authority (AOFA)
Our vision
We aim to support a healthy and successful financial system
Licensing and Registration
The licensing process and registration requirements for financial entities, including banks, insurance companies, and investment firms, typically involve several key steps. These include submitting an application to the relevant regulatory authority, providing detailed business plans, financial projections, and proof of compliance with regulatory standards such as capital requirements, governance structures, and risk management protocols. Entities must also undergo background checks for directors and shareholders. The approval process may include a review of the entity’s operational plans, legal structure, and adherence to anti-money laundering (AML) and know-your-customer (KYC) regulations. Ongoing reporting and compliance with local laws are required for maintaining the license. Each jurisdiction may have specific variations in the process and requirements.
Regulatory Framework
Our comprehensive regulatory framework consists of laws, regulations, and guidelines designed to ensure compliance and foster best practices within the financial sector. These regulations cover key areas such as anti-money laundering (AML), know-your-customer (KYC) requirements, capital adequacy, risk management, and governance standards. They aim to maintain market integrity, protect consumer interests, and prevent financial crime. By adhering to these regulations, financial entities ensure transparency, accountability, and sound financial practices, contributing to the stability and growth of the sector.
Anti-Money Laundering Measures
Our efforts to combat money laundering are guided by the Money Laundering Prevention Act, which establishes stringent measures to mitigate financial risks and promote transparency. This includes robust know-your-customer (KYC) protocols, ongoing monitoring of transactions, and reporting of suspicious activities. By enforcing these regulations, we aim to prevent illicit financial activities, ensure compliance with international standards, and maintain the integrity of the financial system, fostering a secure and transparent environment for businesses and clients alike.
News And Updates
Stay updated on the latest developments, policy changes, and industry trends through our regularly updated news section, ensuring you make informed financial decisions. For any inquiries or assistance regarding our regulatory framework, licensing procedures, or related matters, our dedicated team of experts is available to provide support and guidance.
Connect with Us
Feel free to get in touch with us for any questions or queries you may have. Our team is here to assist you at suppor@anjouanoffshorefinancialauthority.org.