Africa offers exciting growth prospects. In the next few years, 7 out of the 10 fastest growing economies in the world will be in Africa. Growth drivers are becoming increasingly diverse, with the resource-based, construction and services sectors taking the lead. Islamic finance has tremendous potential to at least partly support the funding gaps in Africa while enhancing the financial inclusion rates in the region. According to reports, The Islamic banking segment in Africa has plentiful opportunities supported by Africa's large and under-served Muslim population and increasing awareness of Shari'a-compliant products. In addition, it provides government institutions an alternative financing mechanism to support the country's capital expenditure needs. The methods undertaken, united with the natural advantages offered by Africa, are likely to lead to stronger growth of the Islamic finance industry in the region.
Through a number of key derivatives, the Central Bank of Djibouti has thoroughly established Islamic finance as a key constituent of the economic system in Djibouti. The Central Bank of Djibouti is delighted to host the 3rd Annual Islamic Banking Summit: Africa (IBSA 2014). Since its launch, the conference has gone on to establish itself as the integral platform that’s supports the continuous growth of Islamic Finance in Africa. IBSA 2014 will provide a high-profile platform to specifically focus on the Opportunities and challenges that are forging the Islamic banking, finance, and investment landscape in Africa.
H.E. Ahmed Osman
Central Bank of Djibouti
Special Presidential Address by
H.E. Ismaïl Omar Guelleh
President of the Republic of Djibouti, Head of Government
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