Kuwait Finance House Research Limited

Islamic Finance in Africa: Unlocking opportunities for growth

A newly released report "Islamic Finance in Africa: Unlocking Opportunities for Growth" studies the evolution of the Islamic finance industry in Africa. Moreover, the report, a joint publication by Kuwait Finance House Research Limited (KFHR) and Malaysia International Islamic Financial Centre (MIFC), highlights the exciting growth prospects for the various Islamic finance segments on the continent. Africa's presence in the global Islamic finance landscape is growing, albeit from a small base. The sukuk market in Africa holds great potential over the medium-run, amid unprecedented funding needs for infrastructure building. Aside from the sukuk market, Africa's Islamic funds markets holds potential in the medium-run. The Islamic banking sector has recorded solid growth, and demand for takaful products in Africa islikely to increase.

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