Abidjan — The Islamic Corporation for the Development of the Private Sector(a member of, the Islamic Development Bank Group) and the Government of Cote d’Ivoire, will hold a landmark forum to be held in Abidjan on the 17th – 18th Sept 2015.
The event will be the first Islamic finance forum held in Cote d’Ivoire and aims at stimulating the development of the local and international market of Islamic finance in Africa and particularly in Côte d’Ivoire in line with government National Development Plan 2016 – 2020 and to explore cross border trade between international investors and African nations through opportunities made available through Islamic finance.
In the last few years, global Islamic finance has been making headways across the world with more countries accepting this system in their markets. With this increased pace of internationalization of Islamic finance, the total global financial assets of the Islamic financial industry are now estimated to be more than US$2 trillion, Africa is one of the last great horizons for Islamic finance.
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.
This exclusive, invitation-only event is designed specifically for the benefit of local and international market players to explore the development opportunities in Islamic finance both in Cote d’Ivoire, locally and regionally – concentrating on building the market and exploring its exceptional potential through inward investment and international collaboration.
The distinguished audience will include regulators, bankers, lawyers, consultants, scholars, and a comprehensive array of expert practitioners from around the world with a stake in the evolution of the African Islamic finance industry.
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.