Islamic Finance in Sub-Saharan Africa; Status and Prospects
| Autor: | Enrique Gelbard, Yibin Mu, Etienne B Yehoue, Mumtaz Hussain, Rodolfo Maino |
|---|---|
| Rok vydání: | 2014 |
| Předmět: |
Microfinance
Middle East Bond Financial system Islam Crisis management Sukuk Equatorial Guinea Eritrea Ethiopia Financial institutions Financial sector Djibouti Central African Republic Chad Comoros Congo Republic of Congo Democratic Republic of the Cameroon Benin Bonds Botswana Burundi Burkina Faso Angola Rwanda Senegal Seychelles Sierra Leone South Africa Mauritius Mauritania Mali Nigeria Niger Namibia Mozambique Kenya Lesotho Liberia Malawi Madagascar Insurance Islamic banking Islamic finance International financial markets Gambia The Gabon Ghana Guinea Guinea-Bissau Tanzania Sudan Swaziland Sub-Saharan Africa Togo Uganda Zimbabwe Zambia sukuk islamic banks banking General Sierra leone law.invention law General Earth and Planetary Sciences Business General Environmental Science |
| Popis: | Islamic finance is a fast growing activity in world markets. This paper provides a survey on Islamic Finance in SSA. Ongoing activities include Islamic banking, sukuk issuances (to finance infrastructure projects), Takaful (insurance), and microfinance. While not yet significant in most Sub-Saharan countries, several features make Islamic finance instruments relevant to the region, in particular the ability to foster SMEs and micro-credit activtities. As a first step, policy makers could introduce Islamic financing windows within the conventional system and facilitate sukuk issuance to tap foreign investors. The entrance of full-fleged Islamic banks require addressing systemic issues, and adapting the crisis management and resolution frameworks. The IMF can play a role by sharing international experiences and providing advice on supervisory and regulatory frameworks as needed. |
| Databáze: | OpenAIRE |
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