The enormous opportunities awaiting the Islamic finance sector within the African region are not in question. But what role will the GCC play in its growth and development?
The Islamic finance opportunities in Africa are indeed enormous and extremely attractive. However, indications are that the GCC may come late to the game. Unless the perception of Africa as a risky, unstable market is changed, we are likely to see the West and Southeast Asia taking the lead here. Africa is THE frontier market. It has good assets/projects and offers the best returns in the world. However, it is my opinion that the substance of Islamic finance (as opposed....
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