Ministers and other senior government officials with responsibility for finance and development of infrastructure are expected to be in Lagos soon – The government officials are billed to participate in the 4th edition of the African International Conference on Islamic Finance – They will discuss how Africa can enhance its markets, build stronger, more robust economic ecosystems and ensure wider financial inclusion Nigeria is set to host the 4th edition of the African International Conference on Islamic Finance (AICIF). The event is a gathering of the leading financial experts, regulators and frontline voices from the global banking community. They will converge in Nigeria’s commercial capital, Lagos, to discuss how Africa can enhance its markets, build stronger, more robust economic ecosystems and ensure wider financial inclusion.
Speaking on the conference, Ummahani Ahmad Amin, Managing Partner at Metropolitan Law Firm & convener of the conference says “AICIF was established to highlight the practical solutions available to society via merging Islamic finance with conventional finance practices. “The dire need to financially include the excluded is pertinent considering that over 350 million African adults are unbanked, a whopping 66% of sub-Saharan Africa or 17% of the global total. “It then became imperative to have a gathering of leading minds that could proffer solutions to mitigate against an infrastructure deficit and boost financial inclusion.” Ministers and other senior government officials with responsibility for finance and development of infrastructure are expected to attend the conference. Others expected to attend are project sponsors/developers; institutional investors; local and international financial institutions; private equity firms; international development partners; technical, legal and financial advisers; technology suppliers; sector specialists and professional practitioners as well as business journalists.
To underscore its seriousness, the government has inaugurated an inter-agency committee to speedily resolve the challenges in recovering the debts. Vice President Yemi Osinbajo, SAN, inaugurated the committee on Monday, September 16 at the Presidential Villa, Abuja, tasking its members to turn the tide in what has been a rather difficult process where debtors have continued to default on their payment obligations.
Originally published on https://www.legit.ng