IslamicFinance.de

Forbes reported on 26 March about Moody's statement that the actual size of Islamic finance in Africa was only USD 18 bn as of year-end 2007, equating to a market share of less than 8 pct of its potential size. The industry is currently focussed on some regions; more than half its assets are located in Sudan, with Egypt ranking second, but with a much lower share of around one-fifth.
 
Moody's said that the Islamic finance market in Africa is potentially worth close to USD 235 bn. According to Moody's 37 Islamic financial institutions operate in Africa, serving a Muslim population of 412 mn. Average per capita GDP on the continent was a low 1,137 usd in 2007, but given the fact that Africa is host to the second-largest Muslim population in the world, the absolute size of its economic production reached 469 bln usd last year, Moody's said.
 
Source: http://www.forbes.com/markets/feeds/afx/2008/03/26/afx4814325.html