Africa
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Kenya is to host the 2nd edition of the East Africa Islamic Economy Summit
THE Islamic economy has seen tremendous increase in recent years transcending its traditional geographic boundaries, its entrance into East Africa could revolutionize the region’s finance and banking sector, tourism, and hotel sector and fast moving consumer goods.
To explore how East Africa can tap into the Islamic economy, with an estimated global value of $2.3 trillion, Nairobi, Kenya will host the 2nd edition of the East Africa Islamic Economy Summit (EAIES 2017) on April 10 and 11.
Another platform endorsed by East Africa’s private and public sector leadership with speakers drawn from governments, international experts on Islamic finance and economy, banking sector leaders, regulatory authorities etc.
The summit comes at a time when East Africa’s traditional investor and foreign direct investment, FDI, sources are faced with changing political dynamics, uncertain global markets and divergent monetary policies hence making it the right moment for the region to diversify its investor portfolio.
Discussion points will focus on Islamic finance and banking looking at its development within the East Africa; East Africa’s Halal Economy – a lucrative but invisible market – opportunities for EAC; takaful and retakaful sector opportunities for East Africa.
“East Africa like the rest of Africa face a severe infrastructure deficit, with governments’ budgets under pressure due to low commodity prices and changing geopolitics from the region’s traditional development and investment partners in Europe and America, Sharia compliant bonds or Sukuk must be an alternative to finance East Africa’s projects but their issuance are hindered by technical and legal hurdles, limited knowledge by end users and policy makers, making this summit an important platform to hear from experts in Islamic Finance instruments,” Agnes Gitau of GBS Africa, said about the conference.
— Jan 3, 2017 @ 15:05 GMT
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