IslamicFinance.de

The Mo Ibrahim Foundation has announce the launch of the first comprehensive African Governance Report. Based on IIAG data, the report will focus on: Governance and Africa’s implementation of the AU’s Agenda 2063 and the UN 2030 Agenda for Sustainable Development. It will highlight the importance of using data to analyse the growing governance challenges and opportunities that must be addressed to drive sustainable development in Africa.

Markets across Africa now offer a world of exciting growth opportunities, with experts projecting that 7 out of the 10 fastest growing economies in the world will be in Africa. Djibouti is rapidly becoming an important hub for Islamic finance in Africa, with strong support coming from the President.
The Central Bank of Djibouti is leading the way in terms of driving the practical legal and regulatory framework. Djibouti's strong commitment to Islamic finance is further cemented by its drive to connect with memberships in important international industry organizations, such as the Islamic Financial Services Board and the General Council for Islamic Banks and Financial Institutions.

After Egypt was forced to postpone plans to introduce Islamic bond regulation because of the political unrest, it doesn't look very good for the country that tries to attract Muslim wealth.
Nigeria, a competitive country, plans to license at least two Shariah-compliant institutions by the end of the year. Mauritius set minimum disclosure standards for financial statements from banks offering Islamic services.
Therefore, it looks like Egypt will loose in front of theese countries.

Last week in Jeddah was signed a memorandum of understanding (MoU) between the Islamic Development Bank (IDB) and the African Development Bank (AfDB) to cooperate in co-investment in projects in member countries mutual to both multilateral development banks (MDBs).
The two MDBs will commit to contribute $500 million each in a $1 billion cooperation spanning three years starting in 2011 and based on the AfDB's medium term strategy and the IDB special program for the development of Africa (SPDA), whose main focus is to assist in scaling-up interventions in Africa in agriculture, infrastructure, water and sanitation, education and healthcare.