The document discusses Islamic finance and its potential for growth in Africa. It provides an overview of Islamic finance principles and structures like Mudaraba and Murabaha. While initially based on profit/loss sharing models, Islamic finance has diversified with many new products. It has three sectors - banking, Takaful insurance, and capital markets. The document argues Islamic finance can help fund growth in Africa as the industry and many African economies are expanding. It identifies opportunities in banking, Sukuk bonds, asset management and Takaful. The Center for Islamic Finance in Africa aims to support clients and develop the industry on the continent.
ISLAMIC ACCOUNTING PRACTICES - THE IMPORTANCE OF ISLAMIC CAPITAL MARKET IN MA...Nur Adillah Arifah Nazri
Capital markets are an important component of the financial system for raising funds for long-term investment. They provide opportunities for diversification of risk through cross-sectional risk sharing. The long-term investments are facilitated through a series of short-term contracts in the form of tradable securities enabling the investors an opportunity to exit or enter through trade. Thus they provide an element of liquidity to the otherwise illiquid assets. The secondary market also provides pricing and valuation of assets on a continued basis thus eliminating arbitrage and inefficiencies
THE PROSPECT OF ISLAMIC FINANCE IN THE PHILIPPINESNcmf Halal
February 9, 2015, Lecture on The Prospect of Islamic Finance in the Philippines by NCMF Commissioner MEHOL K. SADAIN held at NCMF Social Hall, Central Office.
Islamic Finance: An Effective & Reasonable Optioniosrjce
In Islamic finance - financial institutions, products and services designed to comply with the central
tenets of Sharia (Islamic law) – is one of the most rapidly growing segments in global financial services. Islamic
finance starts from one basic concept that is to avoid trading directly present for future money. Finance is
provided in the form of money in return for either equity or rights to share proportionately in future business
profits. It is also provided in the form of goods and services delivered in return for commitment to repay their
value at a future date. This is an obvious option in addition to the conventional practices of interest-based
finance through which people borrow money and pay it back in the future in addition to interest. This paper
addresses itself to four questions: (1) Why all the fuss about the rate of interest? (2) Is Islamic finance, as an
alternative to interest based debt finance viable and effective? (3) What Islamic finance implies for the whole
economy? (4) Given that Islamic finance is really viable, why it has not been adopted at a larger scale?
Islamic finance (Revolution in the Making) 2014Adel Abouhana
Revolution in the making in Global Finance...
everyone's products... It is a Reality...
Bai ( Sale & Purchase )
Ijarah ( Islamic Leasing )
Basic Mode of Financing ( Musharkah & Modarabah)
Takaful ( Islamic Insurance )
Sukuk ( Islamic Bonds )
Qard
Zakat & Ushar
Structuring Alternative Investment in Public Private Partnership Projects Using Islamic Financial Instruments
https://uijrt.com/articles/v1i5/UIJRTV1I50002.pdf
Classification of profit-sharing investment accounts: a survey of financial s...UniversitasGadjahMada
The purpose of this paper is to examine the classification of profit-sharing investment accounts (PSIA) under various accounting standards, and determine whether Islamic banks maintain uniform practices when the same accounting standards are applied. It also aims to determine whether Islamic banks consider investment account holders (IAH) important financial statement users by disclosing necessary information pertaining to PSIA. A sample comprised of financial statements from 63 Islamic banks from 15 countries is compared with respect to the information related to PSIA were studied. The results show heterogeneity of classification for PSIA. Applying the same standards does not lead to the uniform classification of PSIA when banks apply International Financial Reporting Standards, while financial statements applying Financial Accounting Standards by the Accounting and Auditing Organization for Islamic Financial Institutions are more similar. The perplexity in classifying PSIA brings obscurity on the treatment for PSIArelated accounts, particularly returns attributable to IAH. The fact of fewer disclosures pertaining to PSIA in Islamic banks—which apply accounting standards not specifically tailored to Islamic finance—suggests that IAH receive less attention under those accounting standards.
ISLAMIC ACCOUNTING PRACTICES - THE IMPORTANCE OFISLAMIC CAPITAL MARKET IN MA...Nur Adillah Arifah Nazri
Capital markets are an important component of the financial system for raising funds for long-term investment. They provide opportunities for diversification of risk through cross-sectional risk sharing. The long-term investments are facilitated through a series of short-term contracts in the form of tradable securities enabling the investors an opportunity to exit or enter through trade. Thus they provide an element of liquidity to the otherwise illiquid assets. The secondary market also provides pricing and valuation of assets on a continued basis thus eliminating arbitrage and inefficiencies
ISLAMIC ACCOUNTING PRACTICES - THE IMPORTANCE OF ISLAMIC CAPITAL MARKET IN MA...Nur Adillah Arifah Nazri
Capital markets are an important component of the financial system for raising funds for long-term investment. They provide opportunities for diversification of risk through cross-sectional risk sharing. The long-term investments are facilitated through a series of short-term contracts in the form of tradable securities enabling the investors an opportunity to exit or enter through trade. Thus they provide an element of liquidity to the otherwise illiquid assets. The secondary market also provides pricing and valuation of assets on a continued basis thus eliminating arbitrage and inefficiencies
THE PROSPECT OF ISLAMIC FINANCE IN THE PHILIPPINESNcmf Halal
February 9, 2015, Lecture on The Prospect of Islamic Finance in the Philippines by NCMF Commissioner MEHOL K. SADAIN held at NCMF Social Hall, Central Office.
Islamic Finance: An Effective & Reasonable Optioniosrjce
In Islamic finance - financial institutions, products and services designed to comply with the central
tenets of Sharia (Islamic law) – is one of the most rapidly growing segments in global financial services. Islamic
finance starts from one basic concept that is to avoid trading directly present for future money. Finance is
provided in the form of money in return for either equity or rights to share proportionately in future business
profits. It is also provided in the form of goods and services delivered in return for commitment to repay their
value at a future date. This is an obvious option in addition to the conventional practices of interest-based
finance through which people borrow money and pay it back in the future in addition to interest. This paper
addresses itself to four questions: (1) Why all the fuss about the rate of interest? (2) Is Islamic finance, as an
alternative to interest based debt finance viable and effective? (3) What Islamic finance implies for the whole
economy? (4) Given that Islamic finance is really viable, why it has not been adopted at a larger scale?
Islamic finance (Revolution in the Making) 2014Adel Abouhana
Revolution in the making in Global Finance...
everyone's products... It is a Reality...
Bai ( Sale & Purchase )
Ijarah ( Islamic Leasing )
Basic Mode of Financing ( Musharkah & Modarabah)
Takaful ( Islamic Insurance )
Sukuk ( Islamic Bonds )
Qard
Zakat & Ushar
Structuring Alternative Investment in Public Private Partnership Projects Using Islamic Financial Instruments
https://uijrt.com/articles/v1i5/UIJRTV1I50002.pdf
Classification of profit-sharing investment accounts: a survey of financial s...UniversitasGadjahMada
The purpose of this paper is to examine the classification of profit-sharing investment accounts (PSIA) under various accounting standards, and determine whether Islamic banks maintain uniform practices when the same accounting standards are applied. It also aims to determine whether Islamic banks consider investment account holders (IAH) important financial statement users by disclosing necessary information pertaining to PSIA. A sample comprised of financial statements from 63 Islamic banks from 15 countries is compared with respect to the information related to PSIA were studied. The results show heterogeneity of classification for PSIA. Applying the same standards does not lead to the uniform classification of PSIA when banks apply International Financial Reporting Standards, while financial statements applying Financial Accounting Standards by the Accounting and Auditing Organization for Islamic Financial Institutions are more similar. The perplexity in classifying PSIA brings obscurity on the treatment for PSIArelated accounts, particularly returns attributable to IAH. The fact of fewer disclosures pertaining to PSIA in Islamic banks—which apply accounting standards not specifically tailored to Islamic finance—suggests that IAH receive less attention under those accounting standards.
ISLAMIC ACCOUNTING PRACTICES - THE IMPORTANCE OFISLAMIC CAPITAL MARKET IN MA...Nur Adillah Arifah Nazri
Capital markets are an important component of the financial system for raising funds for long-term investment. They provide opportunities for diversification of risk through cross-sectional risk sharing. The long-term investments are facilitated through a series of short-term contracts in the form of tradable securities enabling the investors an opportunity to exit or enter through trade. Thus they provide an element of liquidity to the otherwise illiquid assets. The secondary market also provides pricing and valuation of assets on a continued basis thus eliminating arbitrage and inefficiencies
Islamic finance has moved from being just another buzzword in last decade to an extremely popular and viable alternative in today’s interconnected financial world. Islamic asset management has been at the forefront of revolution along with Islamic Banking.
A negative interest rate policy will influence the way lending
and borrowing rates are charged in conventional Financial markets. The objective behind such a policy is to deliberately
boost aggregate demand and output by encouraging business and trade activities, which is no different from principles of Islamic Finance. This article provide insight into how Islamic Finance can help in achieving the same objectives expect from negative interest rate.
Islamic Business: Principles and PracticesMoavizHassan
Islamic business is a system of doing business that is based on the principles of Islam. These principles include honesty, fairness, and social responsibility. Islamic businesses avoid activities that are considered to be haram, such as interest, gambling, and speculation.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the what'sapp number.
+12349014282
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the what'sapp information for my personal pi vendor.
+12349014282
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the what's app number of my personal pi vendor to trade with.
+12349014282
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...mayaclinic18
Whatsapp (+971581248768) Buy Abortion Pills In Dubai/ Qatar/Kuwait/Doha/Abu Dhabi/Alain/RAK City/Satwa/Al Ain/Abortion Pills For Sale In Qatar, Doha. Abu az Zuluf. Abu Thaylah. Ad Dawhah al Jadidah. Al Arish, Al Bida ash Sharqiyah, Al Ghanim, Al Ghuwariyah, Qatari, Abu Dhabi, Dubai.. WHATSAPP +971)581248768 Abortion Pills / Cytotec Tablets Available in Dubai, Sharjah, Abudhabi, Ajman, Alain, Fujeira, Ras Al Khaima, Umm Al Quwain., UAE, buy cytotec in Dubai– Where I can buy abortion pills in Dubai,+971582071918where I can buy abortion pills in Abudhabi +971)581248768 , where I can buy abortion pills in Sharjah,+97158207191 8where I can buy abortion pills in Ajman, +971)581248768 where I can buy abortion pills in Umm al Quwain +971)581248768 , where I can buy abortion pills in Fujairah +971)581248768 , where I can buy abortion pills in Ras al Khaimah +971)581248768 , where I can buy abortion pills in Alain+971)581248768 , where I can buy abortion pills in UAE +971)581248768 we are providing cytotec 200mg abortion pill in dubai, uae.Medication abortion offers an alternative to Surgical Abortion for women in the early weeks of pregnancy. Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the what'sapp contact of my personal vendor.
+12349014282
#pi network #pi coins #legit #passive income
#US
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the what'sapp contact of my personal pi vendor
+12349014282
This presentation poster infographic delves into the multifaceted impacts of globalization through the lens of Nike, a prominent global brand. It explores how globalization has reshaped Nike's supply chain, marketing strategies, and cultural influence worldwide, examining both the benefits and challenges associated with its global expansion.
PPrreesseenntteedd bbyy:: GGrroouupp 66
GGlloobbaalliizzaattiioonn
o f
PP
oo
ll
yy
ee
ss
tt
ee
rr
RR
uu
bb
bb
ee
rr
EE
tt
hh
yy
ll
ee
nn
ee
VV
ii
nn
yy
ll
AA
cc
ee
tt
aa
tt
ee
GG
ee
nn
uu
ii
nn
ee
LL
ee
aa
tt
hh
ee
rr
SS
yy
nn
tt
hh
ee
tt
ii
cc
LL
ee
aa
tt
hh
ee
rr
CC
oo
tt
tt
oo
nn
C
o
u
n
t
r
i
e
s
I
n
v
o
l
v
e
d
Ni
k
e
h
a
s
m
o
r
e
t
h
a
n
7
0
0
s
h
o
p
s
i
n
c
o
n
t
r
a
c
t
w
i
t
h
w
o
r
l
d
w
i
d
e,
w
h
e
r
e
i
n
t
h
e
i
r
offi
c
e
s
a
n
d
i
n
d
e
p
e
n
d
e
n
t
fa
c
t
o
r
y
o
u
t
l
e
t
s
a
r
e
fo
u
n
d
w
i
t
h
i
n
t
h
e
p
r
e
m
i
s
e
s
of
ap
p
r
o
x
i
m
a
t
e
l
y
4
5
c
o
u
n
t
r
i
e
s.
AAuussttrraalliiaa
China
India
IInnddoonneessiiaa
TThhaaiillaanndd
TTuurrkkeeyy
USA
VViieettnnaamm
NNiikkee SSuuppppllyy CChhaaiinn
RRuubbbbeerr,, FFaabbrriicc
aanndd ootthheerr rraaww
mmaatteerriiaallss
Shoe
MMaannuuffaaccttuurriinngg
aanndd AAsssseemmbbllyy
MMaarrkkeettiinngg
SSppoorrttiinngg ggooooddss,,
ddeevveellooppmmeenntt
aanndd SShhooee ssttoorreess
OOnnlliinnee,, CCaattaalloogg
aanndd ootthheerr rreettaaiill
NNiikkee bbrraannddeedd
shoes
PPrroodduucctt
ddeevveellooppmmeenntt
CCuussttoommeerr nneeeeddss//wwaannttss ffeeeeddbbaacckk
NNiikk
Nike Supply Chain
Globalization of Nike
Nike Manufacturing Process
Rubber Materials Nike
Ethylene Vinyl Acetate Nike
Genuine Leather Nike
Synthetic Leather Nike
Cotton in Nike Apparel
Nike Shops Worldwide
Nike Manufacturing Countries
Cold Cement Assembly Nike
3D Printing Nike Shoes
Nike Product Development
Nike Marketing Strategies
Nike Customer Feedback
Nike Distribution Centers
Automation in Nike Manufacturing
Nike Consumer Direct Acceleration
Nike Logistics and Transport
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the what'sapp number of my personal pi merchant who i trade pi with.
Message: +12349014282 VIA Whatsapp.
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
2. Connecting Africa to the world of Islamic finance
Islamic finance offers alternative solutions to conventional finance that comply
with the principles of Shari’ah1
. Islamic jurisprudence strives to promote moral
and ethical values in establishing an economic system that outlaws the payment
and receipt of interest, excessive uncertainty in business transactions and
investment in prohibited industries2
.
Initially, the operations of Islamic banks were underpinned by the principle of
a two-tier Mudaraba3
. In this model, funds were acquired from investors on a
profit and loss sharing basis (tier one). These funds were then channeled to an
entrepreneur to invest in productive activity (tier two). Any profits generated
from the business venture would be shared in a pre-agreed ratio between
all parties, whereas losses would be incurred by the investors alone. This
principal-agent relationship, however, proved to be slightly problematic in that
considerable discretionary power was provided to the entrepreneur to invest
funds. The separation between management and ownership at times resulted in
the best interest of the venture and the investor not being considered. The return
provided to participants is also dependent on the profitability of the venture, and
inadequate oversight and decision-making increased the risk of financial loss.
This principle had limited use in practice, as Islamic banks undertook liability for
losses incurred by depositors. Another drawback with this system was that the
return provided to depositors proved to be volatile.
As financial systems became more complex, Islamic finance structures began
developing further. The two-tier Mudaraba3
model was gradually phased out as
the industry moved toward Murabaha4
modes of financing. These were contracts
entered into between banks and clients at a price incorporating an agreed-
upon profit margin. Murabaha has become one of the most frequently used
modes of financing among Islamic financial institutions globally. Over the past
few decades, Islamic finance has progressed significantly, and many different
products have been introduced.
Currently, the industry comprises three sectors: Islamic banking, Takaful5
and the
Islamic capital market. There remains huge potential for growth as the industry
remains untapped locally and within Africa, and the challenge lies in exploring
new avenues to tackle existing problems.
Islamic finance can act as the catalyst in mobilizing funding into Africa, thereby
resulting in economic growth and sustainable development. As per the African
Economic Outlook6
, the continent’s growth is expected to progress to up to 6% in
the upcoming year. This is driven by increased domestic demand, developments
in the private sector and strong trade relations with developed economies.
Although the Islamic financial services industry in Africa is currently dominated
by the banking and Sukuk segments, growth potential remains in the asset
management and Takaful spheres. Globally, the Islamic finance
sector is expected to surpass the US$2 trillion mark
by the end of 2015.
3. 1. Islamic law based on the teachings of the Qur’an and Prophet Muhammad (May Peace Be Upon Him).
2. Including the gambling, alcohol, entertainment, arms manufacturing, tobacco and certain food manufacturing industries.
3. Contract in which an investor (Rabb-ul-Mal) provides capital and an individual or institution (Mudarib) manages the capital
on behalf of the investor.
4. Form of trade financing in which commodities are sold at cost plus an agreed-upon profit margin.
5. Joint guarantee based on the underlying principle of mutual cooperation and solidarity – an Islamic alternative to
conventional insurance.
6. Report published by the African Development Bank in collaboration with the United Nations Development Program and the
Organisation for Economic Co-operation and Development.
Islamic Finance Growth Drivers in Africa
Islamic finance mitigates the risks posed by unsecured lending and contributes
toward a more stable economic system. In developing Islamic finance further, a
key factor would be the alignment of existing regulations to conform to Shari’ah
structures. Locally, efforts have been made in amending legislation to provide
leniency to institutions offering interest-free financing. Human capital investment
is also crucial in establishing visionary policies and initiatives.
Product innovation and diversification would provide solutions to satisfy existing
and emerging needs. This will go beyond tweaking existing contracts and, rather,
focus on newer and more imaginative ways of delivering in line with market
demand. The growth of Islamic finance into new territories and jurisdictions will
necessitate harmonization of Shari’ah and regulatory rules. This will ensure that
the industry remains efficient and competitive, and will require extensive collabo-
ration and cooperation.
Prospects for Islamic finance remain positive as interest in the field continues
to grow. Islamic finance is steadily merging into the mainstream conventional
finance and is here to stay. This creates extensive opportunity for advisory orga-
nizations to provide guidance to institutions willing to tap into this field. EY has a
Center in Islamic Finance for Africa that provides a support structure for clients
and will play a key role in developing Islamic finance on the continent.
Economic Growth
Stronger growth supported by improving
fundamentals, domestic demand and
stronger regional integration.
Demographics
A continent of 1 billion people. Africa’s
middle-class population is expected to
increase and this will boost demand for
retail banking, takaful and Islamic funds.
Infrastructure funding gaps
Significant wealth investment needed in
the medium-run, with the funding gap
estimated at USD48 bln a year, mostly in
the power sector.
Increasing awareness
Improving financial literacy across the
continent, including on Shariah-compliant
products amid policymakers’ renewed
interest in the sector as a means of
supporting financial inclusion.
Islamic Finance in Africa: Growth Drivers
Source: KFH Research Limited