The Comoros, officially the Union of the Comoros (Comorian: Udzima wa Komori, French: Union des Comores, Arabic: الاتحاد القمري‎ al-Ittiḥād al-Qumurī / Qamarī) is a sovereign archipelago island nation in the Indian Ocean, located at the northern end of the Mozambique Channel off the eastern coast of Africa, between northeastern Mozambique and northwestern Madagascar. Other countries near the Comoros are Tanzania to the northwest and the Seychelles to the northeast. Its capital is Moroni, on Grande Comore. At 1,862 km2 (719 sq mi), excluding the contested island of Mayotte, the Comoros is the third-smallest African nation by area. Each Island have a different financial law and Anjouan and Mwali have International Services Authority. Anjouan is an autonomous island in the Indian Ocean that has formed part of the Comoros since it reached its independence in 1975, when, together with Moheli, it requested secession. It proclaimed itself the independent State of Anjouan in August of 1997, with Foundi Abdallah as president. Then, the island requested integration with the French Republic, but France refused the request. Later, Anjouan adopted a constitution through a referendum held on February 25, 1998. The end of the 20th Century was convulsive for Anjouan, because several coup d'état took place. After the creation of the Union of the Comoros, the islands accepted integration into this new formation in 2002; however, internal problems continued between forces loyal to Mohamed Bacar and the opposition. Anjouan was invaded by the Union military in 2008, followed by its new declaration of independence, with Bacar seeking political asylum. The changes were positive and the island was finally successful in establishing itself politically and economically. Anjouan uses the Comorian Franc, minted by the Bank of France and issued by the island's Central Bank, as its currency. The island's economy depends on agriculture and related industries. These employ more than 80% of the work force. Anjouan is the world's main exporter of ylang-ylang oil, an ingredient used in almost all perfumes. Anjouan has offered licenses to more than 300 offshore banks. The Offshore Financial Authority of Anjouan, whose objective is to attract foreign capital by offering ample fiscal advantages, has existed since 2002. In 2005, by signing new laws, the Limited Services Corporation of Anjouan obtained the right and authority as a registered agent for all international business companies and the issue of bank licenses. This Corporation received some inquiries, but the Supreme Court of Justice of London confirmed its legal rights to operate offshore businesses, with the complete consensus of the Anjouan Government.

• published: 26 Feb 2014
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