The sectors expected to thrive in Africa’s vast and diverse economy include Islamic microfinancing, trade and project financing and capital market issuances as well as agricultural investments. With an estimated 45-50% of the African population being Muslim, standing between 400 and 500 million people, Islamic banking has the potential to appeal to those who are currently unbanked and to those who are under-banked and looking for Shariah compliant alternatives to the current conventional banking offerings. With the proper regulations, increased transparency, education, and an objective, non-political perspective of the Shariah compliant sector, there is no doubt that Islamic banking in Africa has the potential to thrive. An IntroductionOver the last 10 years, trade between African countries and the rest of the world has grown significantly; charting a 170% increase in trade with the GCC, and 45% growth with China and India; the world’s fastest growing economies. Chinese investors have expressed much interest in Africa, and are already heavily invested in manufacturing and infrastructure projects in countries such as Sudan and Ghana. In places such as Ethiopia and Ghana, over 60% of Chinese investments in the countries constitute manufacturing. And the Chinese government is keen to see these numbers grow. This is also expected of the GCC, whose longstanding trade history with Africa has been recently strengthened by the involvement of the Saudi-based Islamic Development Bank’s efforts to aid its African member countries, and growing interest from Middle East investors looking to diversify their investments. The sectors expected to thrive in Africa’s vast and diverse economy include Islamic microfinancing, trade and project financing and capital market issuances as well as agricultural investments. With an estimated 45-50% of the African population being Muslim, standing between 400 and 500 million people, Islamic banking has the potential to appeal to those who are currently unbanked and to those who are under-banked and looking for Shariah compliant alternatives to the current conventional banking offerings. The significant pool of affluent Muslim traders in the continent also creates a diverse demographic of potential Islamic banking customers— from the low, middle and high-income bands. With the proper regulations, increased transparency, education, and an objective, non-political perspective of the Shariah compliant sector, Islamic banking in Africa has the potential to thrive. Increased interest from Gulf investors in terms of agricultural land acquisitions and the mergers and acquisitions of financial institutions, as well as a growing Asian investor base, particularly in manufacturing and project finance, is expected to grow the African economy significantly. As it stands, Africa has everything to gain and nothing to lose by growing its Islamic banking sector. The 2013 IFN Africa Issuers & Investors Forum will take you around Africa and explore these growth opportunities, chart regulatory developments for Islamic finance across the vast African continent, and address pertinent issues regarding the current state of Islamic banking in Africa. Through a series of exclusive regulatory country presentations, practitioner-led round-table discussions, non-debatable power presentations, original case studies and sector focused side sessions, the IFN Africa Forum in 2013 will again be the key, must-attend industry event for issuers, investors, regulators and all financial intermediaries involved in the Islamic financial markets with interest in the African markets.
08:00 - 09:00
Registration
09:00 - 09:10
Welcome Address
Dr. Abdulrazak Faris Alfaris - Chief Economist, Economic Policy & Research Centre, Dubai Economic Council (DEC) 09:10 - 09:25
Opening Keynote Address: Advancing the Sustainable Development of Islamic Finance in Africa
Ibrahim Shoukry - Director, Financial Institutions Development Department, Islamic Corporation for the Development of the Private Sector 09:25 - 10:10
Session One: Islamic Finance in Africa: Current Developments and Future Growth
10:10 - 10:25
Presentation: Government of Senegal US$ 200 million Sovereign Sukuk
Zakiyoulahi Sow - Sukuk Project Manager, Islamic Corporation for the Development of the Private Sector, IDB Group 10:25 - 10:40
Case Study: SAMIR US$200 million Syndicated Structured Murabahah Financing
Mourad Bouzrouri - Corporate & Structured Finance Manager, International Trade Finance Corporation (ITFC) 10:40 - 11:10
Networking Break
11:10 - 11:55
Country Roundtable: Future Outlook for Africa’s Leading Islamic Investment Destinations
11:55 - 12:40
Session Two: Islamic Project and Infrastructure Financing: Regulations, Structures and Opportunities in Africa
12:40 - 14:00
Lunch
14:00 - 14:40
Retail Roundtable: Developing a Sustainable and Dynamic Islamic Retail Banking, Wealth Management and Microfinance Market
14:40 - 15:05
Exclusive Interview: Questions to Leading Standard Setting Figures in the Islamic Financial Market
15:05 - 15:20
Presentation: The Global Takaful Industry: Current Developments and Future Trends
Sohail Jaffer - Deputy Chief Executive Officer, FWU Global Takaful Solutions 15:20 - 15:50
Session Three: Initiatives and Developments in Takaful and Re-Takaful
15:50 - 16:10
Networking Break
16:10 - 16:55
Session Four: Advancing North Africa’s Entrance into the Islamic Finance Market – Laying the Groundwork for Long Term Growth
16:55 - 17:40
Investors Roundtable: Developing Africa as an Islamic Investment Destination: Opportunities and Challenges
17:40 - 17:50
Chairperson's Closing
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