Yesterday (19 May 2022), Faizal Bhana, Jersey Finance’s Director of Middle East, Africa, and India, featured on BBC Africa’s Money Daily TV programme, sharing his insights on how Islamic finance can support and strengthen the African economy through supportive wealth management, forward-thinking regulation and special purpose vehicles.
African countries are keen to leverage Islamic Finance due to the lower costs of borrowing and the ability to promote growth and prosperity of local small and medium sized businesses. Since 2014, US$2.3 billion has been raised in Africa through Sukuk bonds which have become a vital source for funding for both sovereign and private financial institutions.
