The Central Bank of Comoros has launched a set of new payment and financial market infrastructures as part of its modernization of the national financial system, built around four projects: KomorPay, Komor Switch, Mali Ya Wakazi and a public securities market. The update shows that the interbank Automated Transfer System, branded KomorPay, is already operational, while the other projects are being deployed to speed up transfers, connect banks with mobile money, extend basic banking access through local agents and create a structured market for government funding. KomorPay has been operational since April 23, 2026 and handles interbank payment processing, clearing and settlement in central bank money through an ACH component for transfers below 10 million KMF and digitized checks, and an RTGS component for payments above 10 million KMF and urgent transactions. The bank said the system reduces transfer processing from one business day to same-day, cuts check clearing from two to three business days to one business day, automates monitoring and improves traceability and security. Komor Switch is being rolled out in three phases, starting with card withdrawals at any ATM in the country, then instant transfers between bank accounts and mobile money accounts, and finally card or phone payments at merchants. Mali Ya Wakazi is being deployed across the islands through trained local agents that can handle deposits, withdrawals and account-opening initiation, with the bank linking the program to an increase in the national banked population rate from 39 percent in 2024 to 70 percent by 2030. The public securities market is still being put in place and is intended to replace existing funding mechanisms with a more structured and transparent framework for state borrowing. Regulatory texts are in force, market participants have been trained, pilot tests have been completed successfully, and the first operations are due to begin progressively under an initial pilot phase.

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