About AlHuda Center of Islamic Banking & Economics
Towards the pursuance of our goal to promote Islamic Banking and Finance all over the globe, AlHuda Centre of Islamic Banking and Economics is working diligently since 2005. AlHuda CIBE has been acknowledged as a distinguished service provider due to our notable services, team of dedicated professionals and one stop solutions of Islamic Banking and Finance. Our aim is to provide state-of-the-art services of Islamic banking and finance. We are proud to be prominent for our Advisory and consultancy, research and development, education and capacity building, Shariah advisory, publication and events all over the world.
AlHuda CIBE is supported by many national and international organizations and institutions as Strategic Partners support and our Alumni have spread over 104 countries. We are proud to stand among world's largest presences for capacity building, trainings, consultancy and other services. More details are available at www.alhudacibe.com
About Islamic Finance in Africa
Africa is the world’s second-largest and one of the most diverse continents, with tremendous potential for the growth of Islamic finance. With a Muslim population of approximately 636 million, making up nearly 53 percent of the continent’s population, Africa represents a significant market for Islamic finance, as highlighted in a September 2018 review.
While challenges such as low banking inclusion, limited public awareness, insufficient domestic savings, and historically minimal government interest have impacted the growth of Islamic finance in the region, there is a shift occurring. According to Moody's, countries like Senegal, Morocco, Sudan, Nigeria, Egypt, and South Africa, with sizable Muslim populations, present considerable opportunities for Islamic finance to thrive. Islamic banking is expected to be most popular in regions with a high concentration of Muslims, including North Africa, much of West Africa, and parts of the eastern seaboard. Additionally, countries with significant Muslim business communities, like South Africa, are also likely to see a rise in Islamic banking interest.
The expansion of Islamic banking and finance in Africa is poised to foster stronger trade relations and business interactions with the Middle East. The growing sector could play a key role in enhancing trade opportunities between Africa, the Middle East, and the global market, encouraging collaboration with more global and Islamic banks from both regions.
African Islamic Finance Summary
11 Forum 80+ countries 1800+ participants
AlHuda CIBE has been organizing the African Islamic Finance Summit for the past ten years across Mauritius, Tanzania, The Gambia, and Somaliland. AlHuda plays a pivotal role in supporting practitioners, Islamic finance institutions, and government entities by promoting awareness and understanding of the Islamic financial system. The summit serves as a platform for dialogue between organizations and networks, offering up-to-date insights into various aspects of Islamic finance. This initiative aims to foster Islamic financing for entrepreneurship and SMEs globally.
The international nature of these events ensures that their benefits reach a wider audience. The African Islamic Finance Summit offers state-of-the-art knowledge through a combination of sessions, speeches, and presentations designed across different tracks. These sessions focus on active learning within specific topics, allowing participants to gain a global perspective on Islamic finance.
Over the past 11 years, more than 1,800 participants from over 80 countries have attended these summits. The events have attracted a number of industry leaders and experts. The main objective of the summit is to explore Africa’s untapped market and to adopt the latest trends, challenges, and opportunities within the Islamic finance industry on the continent.
