Tanzania has Big Potential for Islamic Finance: Muhammad Zubair Mughal

Tanzania has big potential for Islamic Finance and could be the Islamic banking hub for east African countries, Muhammad Zubair Mughal, the Chief Executive Officer of AlHuda Center of Islamic Banking and Economics said during the concluding ceremony of "African Islamic Banking and Finance Road show". This road show was conducted in 6 African Countries for the Promotion of Islamic Finance on the African continent. He stated that Islamic finance is not only taking root in North African countries e.g. Tunisia, Morocco and Algeria etc, as potential exists in all African countries. Islamic Banking and Finance is growing rapidly in Nigeria, Libya, South Africa, Kenya and Morocco, while Egypt, Sudan, Tanzania, Tunisia have already taken good initiatives in the mentioned field.