About 6th African Islamic Finance Summit

Africa is the world’s second largest and most popular continent after Asia. With 1.0 billion people, it accounts for about 14.72% of the world’s human population. According to the World Book Encyclopedia, Islam is largest religion in Africa, followed by Christianity. The region has significant potential as it is home to more than 413 million Muslims and the Islamic finance industry in Africa is rather untapped. Islamic banking and their products are likely to be most popular in the parts of Africa comprising the highest concentration of Muslims such as North Africa, large part of West Africa and down the eastern seaboard. Islamic banking is also expected to become attractive in countries with significant population of Muslim business persons such as in South Africa. Moving forward, expansion of Islamic banking and finance industry in Africa is expected to bring the favorable turns in trade progress and business interactions with the Middle East. Islamic banking and finance can potentially play a part in facilitating more trade opportunities between Africa, Middle East and rest of the world with the involvement of more global and Islamic banks of both regions. The aim of this forum is to explore the untapped market of Africa and to adopt the latest trends, challenges and opportunities in Islamic banking and finance industry in Africa.

Previous Event SPEAKERS

Our 5th African Islamic Finance Summit 2018 Speakers

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Mr. Zubair Mughal

Chief Executive Officer
AlHuda Centre of Islamic Banking and Economics Pakistan
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Dr. Bernard Y. Kibesse (Chief Guest)

CDeputy Governor, Financial Stability and Deepening, Tanzania.
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Hon. Dr. Ashatu K. Kijaji (MP) (Chief Guest)

Deputy Minister Ministry of Finance and Planning, Tanzania.
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Pro. Faustin Kamuzora (Guest Of Honor)

Permanent Secretary , The Office of Vice President, Tanzania.
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Sheikh Abubakar Zubeir Mbwa (Guest Of Honor)

Grand Mufti, BAKWATA-The National Muslim Council of Tanzania, Tanzania.
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Mr. Said Salim Awadh Bakhres (Guest Of Honor)

Chairman, Bakhresa Group of Companies, Tanzania.

Event Agenda

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Introduction to Islamic Banking and Finance
Historical Developments and Global Trends of Islamic Banking and Finance
Introduction to Islamic Financial Products
Regulatory Framework of Islamic Banking and Finance in Africa
Islamic Banking & Finance in Africa – Emerging Opportunity
Islamic Finance and Financial Inclusion
How Islamic finance helps financial inclusion
Policy and strategy development for financial inclusion through Islamic banking
Financial inclusion and poverty alleviation
Current trends in Shariah compliant financial inclusion
Takaful (Islamic Insurance)
Takaful (Islamic Insurance) and Takaful Models
How Takaful industry can facilitate Islamic financial industry in Africa
Innovative products of general & family Takaful
Vastly growing trends of Takaful Industry in Africa
Takaful management system
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Investment Opportunities in Africa and Tanzania
Investment opportunities on Islamic banking and Takaful in Africa
Emerging trends of Islamic banking and finance in Africa
How Tanzania can play a vital role for the development of Islamic banking and financial sector in Africa
Creation of Shariah compliant investment avenues in Tanzania
Sukuk, Islamic Bond & Islamic Capital Market
Introduction of Sukuk
How Sukuk can facilitate Tanzanian government for country development
Asset based financing: A complete risk free solutions for International crises
Structuring of Shariah compliant fund
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A Glance on Islamic Finance
Riba (Interest) and Prohibition of Riba
Types of Riba
Economics Rationale for Prohibition of Riba
Development of Islamic Microfinance in Pakistan
Partnership Based Mode of Islamic Banking & Finance (Mudarabah & Musharakah)
Mudarabah
  • The basic rules and Features of Mudarabah
  • Distribution of Profit & Loss in Mudarabah
Musharakah
  • The basic rules and Features of Musharakah.
  • Distribution of Profit & Loss in Musharakah.
Diminishing Musharakah
  • Determine the Rental in Diminishing Musharakah
  • Unit Sale mechanism in Diminishing Musharakah
  • Diminishing Musharakah as Ideal product for Islamic Housing Finance.
Trade Based Mode of Islamic Banking & Finance (Murabahah, Musawamah, Salam & Istisna)
Murabahah
  • Basic Features of Murabahah
  • Murabahah as financing mode
  • Stages involve in Murabaha Transaction.
  • Shariah compliance & legal documentation of Murabaha contract.
  • Murabahah in International Trade.
  • Practical aspects & issues of Murabahah
Salam & Istisna
  • Basics of Bai Istisna & Bai Istisna
  • Difference between Salam & Istisna
  • Practical implementation of Salam & Istisna.
Rental Based Modes of Islamic Banking & Finance (Ijarah)
Introduction and Brief Perspective of Ijarah.
Sharia’h alternative of Conventional Leasing - Ijarah.
Ijarah (Operating Lease) vs. conventional leasing (Financial Leasing)
Legal framework & documentations for ijarah products
Basic feature of Ijarah contract & Its Operational Mechanism
Islamic Banking and Finance Product Development
Types of Products
Phases to be involved in Developing New Products
Role and Internal Involvement for New Products
Parties Involved
Product Documentation
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Introduction & Historical Background
Definition & Fundamental Principles
Difference in Concept & Difference in Contract
Early practices
Reference in first constitution of Madina
Takaful practice through the ages
Recent developments
Evolution during the seventies
Judicial opinions and Fatwas
Formation of first Takaful companies
Developments in the World
Takaful Models
The Mudaraba Model
The Wakala Model
The Waqf-Wakala Model
Investment Models
Takaful Comparison
Comparison with mutual societies
Comparison with cooperatives
Comparison with self-retention schemes
Comparison with conventional insurance
Takaful Documents
Proposal form
Participants' Membership Documents
Claims procedures
Surplus sharing mechanism
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Travel Information

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Event Venue

Hyatt Regency, The Kilimanjaro, Dar es Salaam - Tanzania Read More

About Visa

Easy ways to get Visa for 6th African Islamic Finance Summit 4th – 5th November, 2019. Read More

ABOUT Dar es Salaam

Dar es Salaam, a major city and commercial port on Tanzania’s Indian Ocean coast, grew from a fishing village. The open-air Village Museum has re-created the traditional homes of local and other Tanzanian tribes and hosts tribal dancing. It’s part of the National Museum, which offers Tanzanian history exhibits, including the fossils of human ancestors found by anthropologist Louis Leakey. Read More

6th African Islamic Finance Summit Sponsorship Package