About Islamic Banking and Takaful in Africa

Africa, the world’s second largest and second most populous continent, has long been a sleeping giant in the development of Islamic finance, but now has awoken to become an active contributor to the industry’s development. The Islamic finance industry is currently valued at $2.2 trillion and is projected to reach $3.8 trillion by 2022, according to the Islamic Finance Development Report. A continent of 1.2 billion people where around 40 percent are Muslim has huge potential to shift the growth curve of Islamic finance to cater to such a large population. However, a lack of qualified personnel and a lack of standardized regulations as well as the absence of an active Islamic finance market has stunted its growth trajectory.

Tanzania currently has one fully fledged Islamic bank which primarily offers Shari’ah compliant financial products. There are, however, other commercial banks which offer Islamic banking services. The main concern with respect to Islamic banking in Tanzania is that there is currently no specific legal framework to cater for Islamic banking as well as resolution of legal disputes arising from Islamic banking. This could be seen as hindering the progress of Islamic banking in Tanzania. When the legal framework for this is set up, we anticipate an increase in Islamic banking customers.

Previous Events 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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Frontier of Islamic Banking and Takaful
Innovative Product Development for Islamic Banking
Regulatory Framework of Islamic Banking and Takaful in Africa
Islamic Banking & Finance – Emerging Opportunity and Possible Challenges
Financial Inclusion through Islamic Banking and Takaful
Emerging trends of Islamic Fintech
Regulations & Supervision for the Smooth Development of Islamic Banking & Takaful
Regulator Role to Promote the Industry
Sustainable Development and Financial Regulations
How to create Liquidity for Islamic and Finance
Shariah Compliant Derivatives
Shariah Governance in Islamic Banking & Takaful
Developmental Role of Shariah Governance
Shariah Governance and Shariah Compliance Framework
Shariah Governance and Integrity in Product development procedures
Role of Sharia Audit in Islamic banking and Takaful
Investment Opportunities in Tanzania-Africa
Emerging trends of Islamic Finance in Africa
Creation of Shariah compliant investment avenues in Tanzania- Need of the Time
How to attract FDI in Islamic Banking and Takaful
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
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Two Post Event Workshops on Practical and Operational Aspects of Takaful - July 27 - 28, 2022 at Hyatt Regency Dar es Salaam, Tanzania

Introduction & Historical Background of Takaful
Definition & Fundamental Principles
Difference in concept & contract
Reference in first constitution of Madina
Overview of Takaful Industry
Evolution and Global Standing of Takaful Industry
Shariah Principles in Takaful Business
A Forward Plan’ for a New Takaful Landscape
Potential Areas and Developments
Differences between Takaful and Insurance
Comparison of Takaful and Insurance products
Product Mechanism
Challenges and Opportunities of Takaful
Challenges of Current Takaful Industry
Micro-Takaful towards poverty alleviation
Opportunities of Takaful Industry in future
Shariah Compliance in Takaful
What is Shariah Compliance & Shariah Compliance in Takaful
Shariah Compliance Guidelines by AAOIFI and IFSB
Shariah Advisor and its Criteria
Role of Shariah Supervisory Board in Shariah Compliance
Role of Shariah Audit in Compliance
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Two Post Event Workshops on Practical and Operational Aspects of Takaful - July 27 - 28, 2022 at Hyatt Regency Dar es Salaam, Tanzania

Takaful Models
Mudaraba Model
Wakala Model
Waqf-Wakala Model
Banca Takaful
Concept of ‘one –stop shop’ & ‘Financial Super Market’
Types of Banca Takaful products
Need to tailor certain products
Integration issues
Regulatory issues & need for disclosure
Current Key players
Constraints and Issues
Recent development
Micro-Takaful and its Potential
Micro-Takaful towards poverty alleviation
Micro-Takaful products
Opportunities and Challenges of Micro Takaful
Regulations for Takaful Brokers and Banca-Takaful
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Travel Information

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Event Venue

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About Visa

Easy ways to get Visa for 9th African Islamic Banking and Takaful Summit - July 26, 2022 at Johari Rotana, Dar-es-Salam, Tanzania. Read More

About Tanzania

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.
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9th African Islamic Banking & Takaful Summit Sponsorship Package