IslamicFinance.de

Absa Islamic Banking business has seen growth across South Africa and the continent in recent years. The appointment of Uwaiz Jassat as the head of Islamic Banking will further help the Group to achieve its goals regarding Islamic Banking. Uwaiz has been in an acting role heading up Islamic Banking since October 2013. In this time Islamic Banking has enjoyed growth with more than 120,000 customers across the continent. Uwaiz joined Absa in 2009 and held a number of roles in the financial services industry in prior years. Apart from his leadership of the Islamic Banking team he brings with him additional skills having founded Takaful South Africa – an Islamic insurance offering.

Barclays and Absa maintain their interest in Africa as a target for Islamic insurance. There are plans to introduce the Takaful offering to the African continent. With a Muslim population of over 500 million, Africa represents a very good market perspective. The experience of Barclays and Absa in Africa shall be used in order to provide financial products that are suitable for each country.

More on: http://www.iol.co.za/business/companies/absa-africa-target-for-islamic-i...

Barclays and Absa keep their focus on Africa and plan to accept the group’s Islamic Insurance offering - Takaful. Due to the huge number of Muslim population in the continent - over 500 million people - there are excellent market opportunities for Islamic finance and, in particular, for Absa.