Afriland First Bank Over 32.7 billion FCFA to boost private sector, Islamic finance.

According to the financial institution, the announcement is the contours of a recent Memorandum of Understanding, MoU, between Afriland First Bank and the Islamic Corporation for the Development of the Private Sector, ICD, an institution of the Islamic Development IsDB Group.

The engagement was made formal in Baku, Azerbaijan. This was on the sidelines of the recent Annual Meetings of the Islamic Development Bank. The gathering was under the theme: “Regional Integration for Sustainable Prosperity”.

The Deputy Director General of Afriland First Bank, Herve Ayissi, signed for the Cameroon-headquartered bank. The joint financing facility, officials said, will pump the over 32.7 billion FCFA into key sectors with focus on private sector financing to drive growth while expanding Islamic Financing facilities.

According to Afriland First Bank Deputy DG, the deal is yet another demonstration of the confidence the international ecosystem has in Cameroon’s premier commercial bank.

Ayissi noted that the Islamic Corporation for the Development of the Private Sector and Afriland First Bank share a common vision when it comes to driving growth, innovation, creating jobs, financing and Cameroonian businesses especially SMEs.

The Deputy DG declared that “…in this highly selective environment, the fact that Afriland First Bank is among the institutions selected to enter into agreements with the ICD is a mark of confidence and international recognition of our Islamic finance model, which prioritises the financing of productive activities, the creation of sustainable value and the sharing of risks amongst stakeholders”.

Ayissi noted that the deal “…will open up new opportunities for the development of our Islamic finance activities”. 

He added that: “It will considerably strengthen our ability to mobilise Sharia-compliant resources, finance more businesses and support, on a larger scale, value-creating projects in the strategic sectors of our economies”.

The joint structured facility with the ICD, he explained, will support the financing of eligible projects in several strategic sectors, notably agriculture, agribusiness, healthcare, manufacturing and transport. 

He remarked that through the deal, Afriland First Bank and ICD are leading the way in promoting financial inclusion, strengthen the competitiveness of the national business sector and support the emergence of a more resilient private sector.

The Afriland First Bank official situated the deal within ICDs commitment to support the materialization of Sustainable Development Goals, SDGS and objectives of Cameroon’s National Development Strategy, 2020–2030, SND30.

He recalled that having had other collaborations in the past, the Baku MoU further strengthens Afriland First Bank’s partnership with ICD. 

Officials noted that Afriland First Bank has in the history of its productive collaboration with ICD, has headlined at least four financing facilities to the tune of over 41. 3 billion FCFA.

Afriland First Bank always leading 

Afriland First Bank is the market leader in the Cameroonian and Central Africa Sub region banking sector. Since its creation in 1987, the Afriland First Bank has supported economic and social development through innovative, inclusive financial solutions tailored to the needs of individuals, professionals, SMEs, large enterprises and institutions. 

Officials said as at December 31, 2025, Afriland First Bank’s performance confirmed its financial strength and the confidence of its customers and partners. 

They revealed that over 1,200 billion FCFA was mobilised to support private enterprises, consolidating its leadership position in the Central Africa Economic and Monetary Community, CEMAC, sub region.

They also add that at the close of last year, Afriland First Bank had injected 1,667 billion FCFA through credit to finance the economy.

Deposits from its ever increasing clientele as at the close of December 31, 2025, officials noted, stood at 1,950 billion FCFA whiles assets were valued at 2,550 billion FCFA. 

Afriland First Bank, has also remain the king of innovative bank in Cameroon and beyond, appropriating the latest technology to ease services to clients and institutions. Quality service and customer support have for decades been at the heart of its operation.

ICD in brief 

The Islamic Corporation for the Development of the Private Sector, it should be said, is a multilateral development finance institution of the Islamic Development Bank, IsDB Group. It was in November 1999 and based in Jeddah, Saudi Arabia.

ICD has as its core mission to promote the economic development of its 56 member states by supporting private sector investment in accordance with the principles of Islamic finance. 

In the last 25 years, the ICD which has a capital of over 2.85 trillion FCFA (US$4 billion) has been complementing the work of the IsDB Group.

The ICD has been powering the development of capital markets, booting best practices in governance and management, and strengthening the role of the private sector as a driver of sustainable and inclusive economic growth.

It holds one of the best ratings of global rating agencies viz; A2 from Moody’s, A+ from Fitch Ratings and A from S&P Global Ratings.

This article was first published in The Guardian Post Edition No:3868 of Tuesday August 04, 2026