Djibouti to host International Islamic Banking Summit
Sunday October 4, 2015
The International Islamic Banking Summit Africa is an innovative new landmark gathering which will convene international industry leaders to boost economic development and facilitate greater trade and investment flows between Africa and the OIC markets through Islamic finance.
The conference will take place on November 4-5 and will be held under the patronage of Ismail Omar Guelleh, President of the Republic of Djibouti and Head of Government, and is supported by the Central Bank of Djibouti.
The conference has an innovative format spread over 2 days and will be officially inaugurated on the 4th of November with special keynote addresses by Ahmed Othman, Governor of the Central Bank of Djibouti; Abdelrahman Hassan Abdelrahman Hashim, Governor, Central Bank of Sudan; and Ijlal Alvi, Chief Executive Officer, The International Islamic Financial Market (IIFM).
The keynote session will focus on the key regulatory and multi-lateral Institutions and how these organisations can further boost the development of Islamic finance in Africa.
Confirming his participation in the event, Ahmed Othman said:
“Islamic finance is well placed to act as a major catalyst in mobilizing FDI into Africa, thereby boosting economic growth and sustainable development. As per the recent Africa Economic Outlook, the continent is expected to continue to enjoy robust growth rates driven by burgeoning domestic demand, positive developments in the private sector and increasingly strong trade relations with developed economies – in particular with the Gulf Cooperation Council (GCC) and broader OIC markets. Although the Islamic financial services industry in Africa is currently still in the early phases of development, huge growth potential exists in the banking and Sukuk segments, as well as in the asset management and Takaful spheres.”
The opening Keynote session is followed by the Presidential Plenary Address delivered by President Ismail Omar Guelleh.
A major highlight of the International Islamic Banking Summit Africa is the Live Innovation Showcase which is an opportunity to engage with the latest innovations and developments in Islamic finance from across the world.
Governor Ahmed Othman concluded by saying: “Djibouti is rapidly becoming an important hub for Islamic finance in Africa and, in less than a decade, Islamic banks have captured a significant share of the local
market. The Central Bank of Djibouti is leading the way in terms of driving the practical legal and regulatory framework and Djibouti’s strong commitment to Islamic finance is further cemented by its efforts to connect with the broader world of Islamic finance as evidenced by the country recently securing membership of both the Islamic Financial Services Board (IFSB), and the General Council for Islamic Banks and Financial Institutions (CIBAFI).
Djibouti is well placed to be an exciting growth hub for Islamic finance in Africa over the next few years. It is against this background of dynamic growth that the Central Bank of Djibouti has decided to announce the International Islamic Banking Summit Africa – Djibouti 2015, which is created in collaboration with Ethico Live. This large-scale international conference will open doors to new investment opportunities and enable Africa to build a stronger footprint in the Islamic finance industry.”
The second day of the conference follows a practical masterclass format which is led by AIMS, and Soyan Financial Consultancy respectively. These pragmatically focused sessions combine a highly interactive
masterclass format led by renowned expert speakers from the Middle East and Africa addressing the key technical issues essential for the advancement of Islamic finance in Africa.]