Islamic Finance 

CFC Africa Insights Islamic Finance in Africa : The Upcoming Frontier

27 November, 2018 | Country Region Report
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CFC Africa Insights Islamic Finance in Africa : The Upcoming Frontier

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DescriptionThe report present information about the development of the Islamic finance industry in Africa with a specific focus on Morocco.
Executive SummaryAfrica, the world’s second largest and second most populous continent, has long been a sleeping giant in the development of Islamic finance, but now has awoken to become an active contributor to the industry’s development. The Islamic finance industry is currently valued at $2.2 trillion and is projected to reach $3.8 trillion by 2022, according to the Islamic Finance Development Report. A continent of 1.2 billion people where around 40 percent are Muslim has huge potential to shift the growth curve of Islamic finance to cater to such a large population. However, a lack of qualified personnel and a lack of standardized regulations as well as the absence of an active Islamic finance market has stunted its growth trajectory.

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