Gambia to host African Islamic Finance summit

Gambia to host African Islamic Finance summit

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Press Release, Dubai:

The 8th African Islamic Finance Summit (AIFS) will convene in The Sir Dawda Kairaba Jawara International Conference Centre on 23 March 2022 with two-days post event workshop.

The purpose of this event is to explore untapped African financial market for socio-economic benefits of the region. This summit will provide a platform to African think-tanks to discuss innovative financial inclusion strategies for more development in Africa.

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AIFS will be held with Ministry of Trade, Industry, Regional Integration and Employment, The Gambia. The supporters for this event are Heeno International, Microinsurance Network Africa, MicroLab Association, Abuja Chamber of Commerce and Industry, Palestinian Banking Institute, London School of Social and Management Sciences, Centre of Islamic Finance, Compliance and Advice, and The Islamic Chamber of Commerce, Industry and Agriculture.

Muhammad Zubair Mughal Chief Executive Officer AlHuda Centre of Islamic Banking and Economics-United Arab Emirates organiser of this event said he is “very optimistic” about the future of Islamic finance industry in Africa.

He explained: “African countries are facing lot of challenges for the development of people social and economics lives, their economies are just on the way to growth. This is the right time to take sound financial decisions with Islamic finance concepts for building their financial policies not only at institutional level but for state. He is very convinced about African leaders that they are moving in right direction for the development of the region and they will consider significance of Islamic financial system for their socio-economic objectives.”

The summit will cover introduction of Islamic finance from historical development, regulatory challenges, and opportunities. It will focus on Islamic financial system and financial inclusion, Shariah compliance governance and framework, and how the implementation of Shariah audit system regulates Islamic financial industry.

It will also highlight the investment opportunities and significance of Islamic capital market and will discuss its need for African financial industry growth. AIFS will also recognise the role of Gambian financial institutions for the development of Islamic financial system through Shariah compliant avenues.