Islamic Finance | |
Islamic Finance | |
1971 VIEWS | |
![]() | |
PROSHARE | |
PROSHARE |
Wednesday, January 22, 2019 / 8:15 AM / Bukola Akinyele for WebTV / Header Image Credit: Twitter, @ammaraa77
As the Non-Interest Finance market continues to gather momentum in
Africa, one segment that provides immense opportunity for the growth and
development of the region is the Sukuk Bond.
Ever since the first set of issuances in Africa, it has become a veritable
source of financing the infrastructure and sustainable development of the
continent.
At a recent Islamic Finance Forum in Lagos, Ashraf Ammar, a Director with Price Waterhouse Coopers (PwC) Luxembourg engaged stakeholders on "Regulatory and cross border issues affecting the utilization of Sukuk across Africa."
Countries like Malaysia and Indonesia have leveraged Sukuks to It was an
opportunity for Mr. Ashraf Ammar to highlight the challenges facing the
development of the Sukuk market in Africa.
Finance vital urban renewal projects and social investments in the areas
of healthcare, clean environment/waste management, water sanitation, link roads
and transportation projects.
In Africa, it is on record that Sudan leads in the area of the issuance
of Sukuks.
At the moment, while Nigeria has issued two Sukuk in 2017 and 2018,
Sudan has achieved the issuance of 36 Sukuk.
According to Mr. Ammar, the challenges facing the development of the
Sukuk market in Africa, include the following;
He believed if the issues mentioned were resolved at the sub-regional
and regional level, it would go a long way in opening up the African frontier
for the penetration of the Sukuk segment of the Non-Interest finance market.
Africa, according to Ammar, is one continent that
needs to tap into the opportunities provided by the Sukuk because of its huge
infrastructural gap that requires massive capital investments.
The Sukuk segment of the Non-interest finance market
can address the infrastructural deficit in Africa, as it has worked in various
parts of Asia.
Related News
1.
Finance
Specialists Review Opportunities and Challenges for Islamic Finance In Nigeria
2.
2020 Islamic
Finance Outlook; Most Likely Strong Growth in Infrastructure - Dr. Aliyu Dahiru
3.
How Takaful Will
Deepen Insurance Industry In 2020 - Ekerete Ola-Gam Ikon
4.
Islamic Finance,
A Key Tool For Development Financing In Nigeria - Dr. Jubril Salaudeen
5.
Financing
Nigeria's Infrastructure Deficit: Opportunities In The Finance Market - Toyin
Sanni
6.
2019 Review of
Developments In Islamic Finance In Nigeria
7.
Adoption of
Shariah-Compliant Finance Solutions Will Bring Transformation To Nigeria's
Economy
8.
Islamic Finance
Global Asset Projected To Reach $3.8trn By 2023 - Tajudeen Sekoni
9.
How The NSE
Promotes Investor Education in Non-Interest Finance - Jude Chiemeka
10.
How Islamic
Finance Supports Nigeria's Sustainable Development Goals-HRH Muhammadu Sanusi
II
11.
Measuring The
Prospects For Sukuk and Infrastructure Financing In Nigeria
12.
How The Capital
Market Supports Non-Interest Finance In Nigeria
13.
Standardization
and Awareness, Key To the Growth Of Islamic Finance In Nigeria - Banji
Fehintola
14.
AFN To
Participate In African Islamic Fintech Summit on 29th and 30th, November 2019
In Senegal
15.
Islamic Finance:
Women Can Run Businesses That Are Sharia Compliant - Dr. Tajudeen Yusuf
16.
How Islamic
Finance Can Deepen Financial Inclusion In Nigeria - Hassan Usman, MD, Jaiz Bank
17.
Stakeholders At
AICIF 2019 Urge For Expansion of Sukuk, Waqf and Takaful
18.
Sanusi Calls For
Robust Regulatory and Legal Framework To Deepen Non-Interest Finance In Nigeria
19.
African
International Conference On Islamic Finance To Hold On 4th and 5th November
2019 In Lagos
20. Sukuk Bonds Can
Address The Infrastructure and Housing Deficits In Nigeria - Dr Aliyu Dahiru