LUSA 06/25/2026

Lusa - Business News - Mozambique: Islamic Council suggest interest-free banks

Maputo, June 24, 2026 (Lusa) – The Mozambican Islamic Council proposed the creation of an Islamic bank in the country on Tuesday, which would provide access to interest-free credit and enable Mozambique to make better use of the benefits of its membership of international Islamic organisations.

The proposal was put forward by the representative of the Islamic Council of Mozambique, Daude Ibramogy, during the consultations organised by the Technical Commission for Inclusive National Dialogue (COTE), which precede the public hearings on proposals for reform of the state and Mozambican legislation.

“Mozambique is a member of the Organisation of Islamic Cooperation. It makes little sense for a member state not to take advantage of other benefits,” he said, pointing out that an Islamic bank would pave the way for “interest-free loans”.

In addition to the bank, Ibramogy advocated the legalisation of polygamy, arguing that the absence of a legal framework undermines the rights of women involved in such unions, particularly in matters relating to social and property protection.

“Even women are concerned about the legalisation of polygamy. (...) I think it is really a matter of justice, not a favour,” he said, adding that the issue should be analysed from a social rather than an individual perspective.

The proposals form part of the consultation process for the inclusive national dialogue, which entered the public hearing phase on 22 June with the presentation of three scenarios systematised from contributions gathered across the country and from the diaspora.

According to the president of Cote, Edson Macuácua, this stage aims to gather citizens’ views on the scenarios under discussion, as part of a process designed to build consensus on issues such as constitutional reform, the electoral system, decentralisation and national reconciliation.

“Our national unity is one that is consolidated and crystallised through diversity, where different cultures and religions enrich our mosaic and make Mozambique a nation rich in its unity and diversity,” said Macuácua.

COTE was established in 2025 under the agreement for the pacification of Mozambique, reached following the post-election crisis, and has a two-year mandate to put forward proposals on state reform, including constitutional revision, national reconciliation, the decentralisation of government and the establishment of non-partisan security forces.

EYMZ/ADB // ADB.

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