- Issued by the Mwali International Services Authority (MISA).
- IBC in up to 4 business days, licence in about 2 weeks, renewed annually.
- Covers forex, brokerage, asset management, custody, clearing and payments.
- The Central Bank of the Comoros says island licences have no legal effect in the Union (2022 warning, republished December 2025).
What the licence is
Mwali (Mohéli) is an autonomous island of the Comoros. MISA incorporates IBCs and issues an International Brokerage and Clearing House licence covering FOREX, securities brokerage, financial advisory, asset and fund management, custody, clearing, payment processing and issuance/underwriting.
Documents and capital
- Application form.
- Passport copies of directors and shareholders.
- Bank statement and proof of address, not older than three months.
- Selfie holding the passport and a dated paper.
A minimum stated capital is declared in the application; under current terms no proof of funds or deposit is required.
Recognition: what you should know
Under the 2013 Banking Law, financial licensing in the Comoros belongs to the Central Bank of the Comoros. In a warning of 15 June 2022, republished via the Ministry of Finance in December 2025, the central bank named the Mwali International Services Authority and the Anjouan Offshore Finance Authority and stated that their approvals have no legal effect in the Union. Some foreign regulators also list entities holding such licences. Treat the licence as an offshore licence that supports your corporate profile and MT5 application, not as a regulated licence, and never use it to serve markets that require local authorisation.