Mariam Hamadou

Djibouti plans to become Africa’s Islamic finance hub

Djibouti has hosted the last three summits of the African Conference of Islamic finance, mainly in order to attract foreign direct investment, including Muslim countries. The country’s economic expansion depends entirely on the service sector. Islamic banks have helped strengthen Djibouti’s financial ambitions. The four Islamic banks that have settled down the last eight years in the country are now holding 15 to 20% market share. Thesê banks could make Djibouti a sub-regional financial center.

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