MWALI INTERNATIONAL SERVICES AUTHORITY

Mwali island has its own financial sector, which is not regulated by the Central Bank of Comoros, and its own internal legislation on the control and management of the Offshore Financial Services sector since 1998.

In 2013, the government made amendments to the licensing law for banking and other activities, and in 2019, new regulations were implemented for virtual currencies. Currently, the M.I.S.A. has registered over 12000 companies, which includes 6 insurance companies, 9 gambling companies, 84 trust and brokerage companies, and 24 international banks. Notably, the Mwali register is the largest international companies register in Africa.

Regulatory Framework: 

<BANKING ACT 2013>

<ANTI-TERRORISM ACT 2007>

<AML Law 2014>

<IBC regulations 2014

Generally speaking, MISA-regulated broker profile will be found at the List of entities page on MISA website. Try to find it and check if it will match the info from the broker website.

The detailed steps are as below:

1. Find the licensed/reference no.(preferred) or name of the forex broker, which you can get from the broker's website; 

2. Enter the reference no. or name into the search bar (Ctrl+F) on https://mwaliregistrar.com/list_of_entities;

3. The entities under "Brokerage Companies" are regulated to do leveraged forex trading.

MISA does not have regulations related to complaints. When you have a dispute with a MISA-regulated broker, please complain to the broker first.