1887

n Development Finance Agenda (DEFA) - Development of Islamic finance in sub-Saharan Africa

USD

 

Abstract

While the Islamic finance industry has been growing rapidly in many regions, it is not yet significant in Sub-Saharan Africa (SSA). However, several features make Islamic finance relevant to Africa's development, particularly the ability to foster financing for SMEs and infrastructure development. In a recent paper, we provide a survey on current status of Islamic finance in SSA, with special focus on banking and sukuk (Islamic bond). Should they wish to develop the market, policy makers could introduce Islamic financing windows within the conventional banking system and facilitate sukuk issuance to tap foreign investors for development of infrastructure. As Islamic banking grows, policy makers would have to adopt regulatory and supervisory standards to address risks as they emerge.

Loading

Article metrics loading...

/content/defa/1/1/EJC174609
2015-01-01
2016-12-09
This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error