As of the end of 2022, the Islamic finance activities of the Togolese subsidiary of Coris Bank International (CBI Togo), the third largest banking player in the country, represented CFA900 million ($1.61 million) in financing provided to customers and around CFA1.6 trillion ($2.86 billion) in collected resources. CBI Togo launched its new savings plan, “Epargne Hadj,” which follows Islamic finance principles and aims to make the process of pilgrimage easier. The Togo government has previously raised resources through Islamic bonds (Sukuks). The global Islamic finance industry was worth over $2.8 trillion in 2021, slightly more than 1% of conventional finance.