Kenya will next week host the International Islamic Finance Conference for Africa. The conference set for January 25 to 26 in Nairobi is being held for the first time in the continent. It targets to widen Islamic financial institutions’ participation in promoting economic growth in Africa.
According to the organisers it will bring together key policy makers and stakeholders, seeking to position Islamic finance as a catalyst for growth and development of African countries.
IIFCA will feature discussions on developing robust capital markets under the Islamic financial model, to be spearheaded by the Capital Markets Authority, a pointer for changes in Kenya’s capital markets.
It is expected to promote business and trade between Africa and Muslim countries, including discussions on how the Islamic financial principles can help combat poverty in Africa.
It is expected to strengthen the continent’s economy using Islamic financial modules, where sub-Saharan alone is home to almost 241 million Muslims.