About the Conference

Background And Context

Global reports (including COMCEC Financial Outlook of the OIC Member Countries 2017) indicate that the proportion of adults with bank accounts in the 23 (Low Income and Lower Middle Income Groups) of the OIC member countries stands at below 26.23%. A significant portion of the unbanked remain so due to voluntary exclusion from interest-based financial services.

Lack of non-interest financial services and/or deficiency of healthy non-interest ecosystems have potentially been impeding on economic growth, at least for countries with significant demand for such options

Furthermore, according to World Bank Global Financial Development Report 2014, Shari‘ah-compliant financial products and instruments can play a significant role in enhancing financial inclusion among Muslim populations. (COMCEC Financial Outlook 2015)

Financial inclusion is dependent upon adequate infrastructure, especially transport systems, power, and telecommunications. With many African countries including Nigeria constantly being challenged with meeting infrastructure demand, sourcing alternative funding becomes ever more crucial. Islamic finance alternatives have provided significant growth in infrastructural development in the Middle East and South-East Asia. This success has also been replicated through the use of Sukuk in the non-Muslim countries such as the UK, South Africa, Hong Kong, Luxembourg, and Germany, with compliant Public-Private Partnerships (PPPs) projects in Djibouti, Eritrea and most recently, Senegal.

Conference Objectives

Community
Establish a Community of Practice that will serve as a credible resource/support for Islamic Finance deal structuring

Create
Create a platform for financial institutions and other key eco-system players to demonstrate their commitment and support for the development of Islamic Finance in Africa

Focus
Focus on Islamic Microfinance as a tool for financial inclusion, poverty alleviation and promoting economic growth.

Motivate
Motivate financial institutions to push for more defined regulations on Islamic finance.

Platform
Create a platform for Public Private Partnerships leveraging Islamic Finance.

Build
Build and enhance private and public sector institutional capacity on Islamic Finance.

Establish
Establish a platform for periodically reviewing trends and progress in the ecosystem.

Our Conference Starts In

November 4 - 5 in Eko Hotel & Suites