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 Encyclopaedia, 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.

Event Speakers

7th African Islamic Finance Summit Speakers 2021

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Secretary General, The Islamic Foundation, Tanzania.
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International Development and Strategy-Director/Head of Islamic Finance Department, London School of Modern Studies, United Kingdom.
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Deputy Vice Chancellor (Academic, Research and Consultancy), Muslim University of Morogoro, Tanzania.
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Founder & Managing Partner, Lead Consultant PM, Tanzania.
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Former Deputy VC (Academics) Zanzibar University, Zanzibar.
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Chief Executive Officer, SSC Capital - Tanzania

Event Agenda

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Introduction to Islamic Finance
Historical Developments and Global Trends of Islamic Finance
Introduction to Islamic Financial Products
Regulatory Framework of Islamic Finance in Africa
Islamic 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
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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Two days Post Event Workshop on Operational aspects of Islamic Banking, Finance and Takaful - July 09 -10, 2021 at Hyatt Regency, Dar es Salaam- Tanzania

A Glance on Islamic Finance
Riba (Interest) and Prohibition of Riba
Types of Riba
Economics Rationale for Prohibition of Riba
Deference between Islamic banking & finance and conventional banking & finance
Partnership Based Mode of Islamic Banking & Finance (Mudarabah & Musharakah)
The basic rules and Features of Mudarabah
Distribution of Profit & Loss in Mudarabah
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)
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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Two days Post Event Workshop on Operational aspects of Islamic Banking, Finance and Takaful - July 09 -10, 2021 at Hyatt Regency, Dar es Salaam- Tanzania

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

Coming Soon - Dar-es-Salaam - Tanzania Read More

About Visa

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Tanzania officially the United Republic of Tanzania (Swahili: Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and the Indian Ocean to the east; Mozambique and Malawi to the south; Zambia to the southwest; and Rwanda, Burundi, and the Democratic Republic of the Congo to the west. Mount Kilimanjaro, Africa's highest mountain, is in northeastern Tanzania. Read More

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