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Islamic Banking Successful In Africa

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by XIII, Sep 19, 2012.

  1. X

    XIII Member

    Sep 19, 2012
    Joined: Aug 29, 2012
    Messages: 55
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    Centuries ago, the monsoon winds were credited for bringing trade ships from the Indian sub-continent and the Arab peninsula to the East African coast, carrying valuables like silk, pottery, metal goods, jewelery and medicine.

    The latest offering that these trade winds have wafted down the eastern coast of Africa is Islamic finance. And as happened with the items, the first port of call was Kenya and from here Islamic finance is sweeping across the region.

    According to the Islamic Banking Competitiveness Report, Islamic finance asset have grown at double-digit rates over the past five years and in 2012 exceed $1.1 trillion... Read MORE ยป