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.
- Trends in key African markets, such as Nigeria and South Africa, for Islamic finance;
- Islamic finance landscape overviews for Kenya and Ivory Coast;
- Developments in participative finance in Morocco; and
- Key recommendations and takeaways for Islamic finance’s growth in Africa.