Alassane Ouattara, president of the Republic of Cote d”Ivoire, will officially open this 2-day event organized by the Islamic Corporation for the Development of the Private Sector, which is part of the Islamic Development Bank Group.
As the third-fastest, a growing region in the world, outside interest is also gaining momentum with the continent an increasingly attractive destination for Shariah-compliant FDI and trade between Africa and OIC countries across the rest of the world gaining compelling momentum.
As nations as diverse as Sudan, Nigeria, Cote d’Ivoire, Mauritania, Djibouti, Morocco, Tunisia, and many more begin to bloom into their full potential, the eyes of global Islamic investors are turning towards Africa. Although the potential contribution of Islamic finance to African economic development has long been recognized by experts; several challenges have hitherto inhibited its full flowering.
However, in recent years the pace has picked up: with supranational development agencies supporting nations across the breadth of Africa to develop their legislative and regulatory frameworks, encourage the advent of Islamic institutions and innovations, and enable the issuance of Sukuk to stimulate their public sector spending.
And as the third-fastest growing region in the world, outside interest, is also gaining momentum with the continent an increasingly attractive destination for Shariah-compliant FDI and trade between Africa and OIC countries across the rest of the world gaining compelling momentum.
The comprehensive forum will cover the outlook for Islamic finance and Shariah-compliant fundraising and public-private partnerships in Africa, review the success of global Sukuk deals, focus on how Islamic finance can advance Africa’s SME sector, and discuss the Islamic asset management trends both globally and in key African markets.
Originally published on www.allafrica.com