IslamicFinance.de

East Africa could be the new frontier for Islamic finance following the launch of the first East Africa Islamic finance summit in Nairobi. Financial experts drawn from the region noted that East Africa features a potentially strong demand for Islamic services and that its growing reach promises a number of benefits. The Islamic finance industry has seen tremendous increase in recent years transcending its traditional geographic boundaries and its entrance into East Africa could revolutionize the financial sector. The summit which attracted participants and speakers from the region’s key institutions, financial regulators from Mauritius and Malaysia and experts in Islamic Finance charted the way forward for Islamic finance development in the region.