African Development Bank

Islamic banking workshop in Nigeria

The Islamic Research and Training Institute of the Islamic Development Bank Group and the African Development Bank are to jointly organize a workshop on the development of Islamic Banking in Africa to be held in Nigeria on January 6 - 8 2015. It is organized with the Al-Hikmah University as well as the Department of Islamic Law, University of Ilorin. The workshop will expect Experts in Islamic banking, regulation, and financial economics and take stock of current academic research, policies, practice and development of Islamic banking in Africa as well as current issues in Islamic banking and financial products, academics, regulators and practitioners of Islamic banking and finance from different African countries and from those who show considerable familiarity with the development of Islamic banking in Africa.

UN, World Bank and Islamic Development Bank commit 8 billion dollars in Major New Development Initiative for the Horn of Africa

Leaders of global and regional institutions pledge political support and major new financial assistance for countries in the region, totaling more than $8 billion over the coming years. UN Secretary-General Ban Ki-moon, the World Bank Group (WBG) President, Jim Yong Kim, as well as the President of the Islamic Development Bank Group and high level representatives of the African Union Commission, the European Union, the African Development Bank, and Intergovernmental Agency for Development (IGAD) are combining forces to promote stability and development in the Horn of Africa. The initiative covers the eight countries in the Horn of Africa -- Djibouti, Eritrea, Ethiopia, Kenya, Somalia, South Sudan, Sudan, and Uganda.

Islamic Banking and Finance in North Africa

In its new publication, Islamic Banking and Finance in North Africa, the African Development Bank assesses the state of Islamic banking in the region and explains why its use has been limited. The report considers the future potential of Islamic finance, including its possible alignment with North Africa’s development goals, particularly its ability to increase the diversification of funding sources.

The report takes into consideration the effect of Islamic banking’s focus on the equitable distribution of risk and returns between suppliers and users of funds. Islamic Banking and Finance in North Africa goes further by exploring whether Islamic-style finance contracts could contribute to the development objectives of North African countries.

full report for free download:

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