African Islamic Finance To Be Highlighted At Upcoming Conference In Khartoum

The International Forum on Islamic Finance (IFIF Sudan 2014) is being convened on the 9th and 10th of December 2014 at the Al Salam Rotana, Khartoum, and will feature high-profile discussions that will seek to capture the Africa opportunity for Islamic finance.

To be held under the official patronage of the Ministry of Finance & National Economy and the Central Bank of Sudan and in Strategic Partnership with the Bank of Khartoum and Dubai Islamic Bank, the two-day IFIF Sudan event 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.

The inaugural keynote plenary session will feature addresses to be delivered by H.E. Abdelrahman Hassan Abdelrahman Hashim, Governor, Central Bank of Sudan, followed by H.E. Badr El-Din Mahmoud Abbas, Minister of Finance and National Economy, Republic of the Sudan, and H.E. Hassabo Mohamed Abdul-Rahman, Vice President of the Republic of Sudan.

Another key highlight of IFIF Sudan 2014 will be the international keynote session that will discuss issues and provide insights on ensuring Africa is ready to capitalise on the opportunities as the next frontier of growth for Islamic finance. These keynote addresses will be delivered by H.E. Dr. Sabir Mohamed Hassan, (Former) Governor, Central Bank of Sudan, Professor Datuk Rifaat Ahmed Abdel Karim, Chief Executive Officer, International Islamic Liquidity Management Corporation; Ijlal Ahmed Alvi, Chief Executive Officer, International Islamic Financial Market (IIFM), and Suwareh Darbo, OIC/Principal Country Economist, African Development Bank.

Speaking ahead of the event, David McLean, Chief Executive of the International Forum on Islamic Finance (IFIF Sudan 2014), noted that, “As a result of the recent policy revisions, regulatory changes and economic reforms in key markets on the continent, Africa has now been re-positioned as the third fastest growing region in the world, after the Middle East and Asia. The resurrection of Africa’s trade ties with the rest of the world has resulted in an increased international investor interest in the region. The rapid expansion of the major economies in the region has also resulted in the need to invest heavily in developing vital infrastructure. Together with increasingly strong ties with OIC markets, these factors highlight the tremendous opportunity that Africa presents for the growth of Islamic finance and also indicate how Islamic finance can play a key role in catalysing economic development in the region. It is against this dynamic backdrop that we are launching the International Forum on Islamic Finance (IFIF Sudan 2014).”

IFIF Sudan 2014 will also feature the high-profile CEO and Industry Leaders’ Power Debate moderated by Ashar Nazim, Partner, Head of Global Islamic Banking Centre, EY. The session will analyse practical strategies to fast-track the accessibility and success of Islamic finance in key markets on the African continent. The debate features a high-powered interactive panel including Fadi Salim Al Faqih, Chief Executive Officer, Bank of Khartoum; Abdelilah Belatik, Secretary General of the General Council for Islamic Banks and Financial Institutions (CIBAFI); Moawia Ahmed El Amin, Chief Executive Officer, Qatar Islamic Bank – Sudan; Basheer Oshodi (PhD), Group Head, Non-Interest Banking, Sterling Bank Plc, Nigeria; and Dr. El-Tigani El-Tayeb, Former Finance Minister and Economist at the IMF.

David McLean further observed that, “Though Islamic finance is still in its embryonic stage in Africa, the potential for growth is tremendous considering Africa’s population of nearly one billion people, nearly half of which are Muslims. The inaugural International Forum on Islamic Finance (IFIF Sudan 2014) will play a key role in identifying and capturing the unique growth opportunities that will advance Islamic finance in Africa to its next stage of development.”

Originally published on www.cpifinancial.net