Central Bank Governor Vaunts Currency Stability
Djibouti offers a liberal framework, with no exchange controls, and a strong and stable currency governed by the currency board system. Pegged to the dollar since 1949, our currency, the Djibouti franc, ensures a stability that is unique in Africa and total convertibility.
This monetary system facilitates external transactions and reassures investors, as well as entrepreneurs and individuals, about the movement of capital and currencies.
To this framework should be added Djibouti's exceptional political stability and its membership of regional and continental organisations such as IGAD Intergovernmental Authority on Development COMESA Common Market for Eastern and Southern Africa and AfCFTA African Continental Free Trade Area.
How many banks are currently operating in Djibouti and what are their nationalities?Djibouti has 12 banks with national and international capital, notably of French, Ethiopian, Moroccan, Chinese, Bahraini and Yemeni origin. An Egyptian and an Australian bank will soon be setting up.
How has Djibouti's banking sector evolved over the last two decades?The real change began in 2004-2005. Before that, the legal framework inherited at independence limited banking expansion. So we revised the regulations, cleaned up the sector and liquidated the non-compliant banks.