Islamic finance

September 24, 2018

1

Africa emerges as new frontier for Islamic finance

Dubai: Islamic finance is expanding rapidly in Africa, spreading across 18 African markets with great prospects for growth, according to rating agency Moody’s.

While Islamic bond (sukuk) issuance in Africa accounts for only 0.5 per cent of global issuance, the rating agency notes that since 2014 there has been $2.3 billion (Dh8.44 billion) worth of African sukuk issuance, providing new funding sources for both sovereigns and financial institutions.

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September 22, 2018

2

Sukuk issuance to grow in Africa as Islamic debt demand rises

Islamic finance is set to gain traction across Africa as funding needs of growing economies on the continent increase and investors become comfortable with the legal structure of Sharia-compliant products, according to Moody's Investors Service.

Since the beginning of 2014, $2.3 billion (Dh8.44bn) has been raised in Africa through sukuk, or Islamic bond issuances, providing a new source of funding for sovereigns and private financial institutions."...

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