Business
October 22, 2021
Islamic Banking As a Catalyst for Africa's Regional Economic Growth

The Islamic banking and Finance industry, by all indications is emerging as an alternating financing model in different continents and showing a strong market from Malaysia to Indonesia.

With the new emerging markets in Africa and Central Asia. There are projections that in the next 5 years, Islamic finance will operate in more than 150 countries through fintech and insurtech.

With innovative, dynamic and relatable products that are Shariah compliant. Islamic banking and Finance can play a key role in reducing the rising poverty index in Africa.

This edition of the Islamic Finance Weekly anchored by Bukola Akinyele-Yisau features Mr. Zubair Mughal, CEO, AlHuda Center of Islamic Banking and Econ0mics, Pakistan as he speaks on "Islamic Banking, As a Catalyst to Africa's Regional Economic Growth".

He advised the Africa Development Bank (AfDB) to integrate Islamic Finance as an alternative source of funding, for its economic development agenda for the continent.


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