Islamic Finance in Africa to take off in 2012

Islamic finance banking options are increasingly being seen as a viable alternative to traditional banking services in Africa and are growing to support not only the African Islamic community but all those looking for an interest-free banking alternative.
The Islamic Finance Africa Conference, due to take place on 21 – 24 FeBRuary 2012 in South Africa, is drawing together experts in the field from across the world. Key speakers from Nigeria, Malaysia and Saudi Arabia will join leading South African experts from ABSA, alBaraka Bank, KPMG and other financial institutions. They will be meeting to discuss the growth potential for Islamic finance products and services in Africa.

The event will explore the challenges of and opportunities for providing Islamic Finance offerings in Africa, the growth of the industry and what it means to the continent. Shariah law compliance is at the core of Islamic Finance services and products, for conventional financial institutions wanting to open an Islamic finance window this might pose a challenge and many institutions have faced difficulties. The Islamic Finance Africa Conferences will address these issues and others facing financial institutions in Africa.

source : kuwait observer