89,499 exclusive articles and counting...

PSF Awards 2024
In observance of Nuzul Al Quran, IFN Daily Alerts service will resume on the 29th March 2024.

Africa’s vast financing needs will drive growth in Islamic finance

Islamic banking has made little headway in Africa despite the continent's large Muslim populations. For example Sub-Saharan Africa has around 16% of the world's Muslim population but its Sharia-law compliant banking assets make up only around 1% of global Islamic banking assets. The reasons include low levels of banking inclusion, low public awareness, limited domestic savings, and - until recently - scant government attention. Given Africa's vast financing needs, this is likely to change.

Restricted access

Login to continue reading (existing users)

Register Now for FREE Access

Read the latest Islamic finance related reports from Moody's - a leading provider of Islamic finance credit rating agency content

Register Now