Africa Islamic Finance Forum 2016 - African Business Magazine
Africa Islamic Finance Forum 2016

Africa Islamic Finance Forum 2016

On 17th and 18th October 2016, the second edition of the Africa Islamic Finance Forum took place at the Sofitel Abidjan Hotel Ivoire. The forum is designed specifically for the benefit of local and international market players to explore development opportunities in Islamic finance in Africa – concentrating on building the market and exploring its exceptional potential through inward investment and international collaboration.

The two-day event features extensive discussions on investment opportunities in key African markets. The event commenced with welcome addresses from H.E the Minister of Planning and Development, IDB Governor in Cote D’Ivoire; the CEO of the Islamic Corporation for the Development of the Private Sector (ICD) (; the director-general of the Arab Bank for Economic Development in Africa; the governor of the Central Bank of West African States (BCEAO). The forum was inaugurated by Cote d’Ivoire’s Prime Minister, H.E Daniel Kablan Duncan.

The first day of the intellectual discourse deliberate on Africa’s blueprint for Islamic finance development and the outlook for the industry in 2017. An exclusive roundtable then follow to discuss Africa’s value proposition, opportunistic ventures and prospects for sovereign Sukuk issuances, as well as touching on the region’s current regulatory environment and the changes needed that will allow Islamic finance to flourish. The next segment of the forum deliberates on the healthy pipeline of infrastructure projects in Africa and the role of Sukuk in financing such projects, before wrapping up the day with the subject of banking innovation and how financial technology could spur the growth of Islamic banking.

The second day of this prestigious event continues with a session that focuses on Cote d’Ivoire and the investment opportunities that the country has to offer to Islamic investors, as panelists discuss some of the promising sectors and asset classes in the West African nation. In addition, ICD and the Stock Exchange (BRVM) launched the first Sukuk listing in UEMOA market. The final session of the two-day forum then take a closer look at the current Sukuk issuances out of BCEAO member countries, and market challenges that are influencing the growth prospects of the Islamic debt instrument.

The Africa Islamic Finance Forum 2016 provided an unparalleled platform for networking opportunities as well as the centre stage to be at the very forefront of Africa’s flourishing Islamic finance sector. 

Distributed by APO on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

About the Islamic Corporation for the Development of the Private Sector (ICD):
ICD ( is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Sharia’a. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information, visit

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Written by African Business Magazine

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    • Nadia Mensah-Acogny, Journalist, Forbes Afrique
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    • Julia Graham, Technical Director, Airmic

    Continental Reinsurance, the private sector champion of the pan-African reinsurance industry is sponsoring the awards. The awards are open to both English and French-speaking journalists covering the re/insurance sector in Africa.

    Dr. Femi Oyetunji, Group Managing Director/CEO of Continental Reinsurance said, “The outstanding quality of our international judging panel attests to the importance and prestige of these awards. We are privileged to bring together a very talented group of top media and insurance experts, to judge Africa’s most effective journalism work on the topic of re/insurance.”

    Afif Ben Yedder said, “As an industry expert, I applaud any initiative that encourages journalists to develop their knowledge and expertise, particularly in Africa. Following the success of the inaugural awards, I look forward to reading this year’s entries.”

    The international judging panel will evaluate all the submitted articles according to the quality of information and how the work contributes to raising awareness and understanding of the re/insurance sector in Africa. The jury members will independently select the recipients of the awards in three categories: Journalist of the Year, Best Analysis & Commentary and Best Feature article.

    The winners will be announced at the Continental Reinsurance CEO Summit on 6 April, 2017 in Dakar, Senegal.

    For details on the awards, visit:

    Distributed by APO on behalf of Pan-African reinsurance Journalism Awards.

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    About Continental Reinsurance:
    Continental Reinsurance ( is a composite reinsurer, writing business in more than 50 countries across the African continent.
    Established in 1985, and listed on the Nigerian Stock Exchange (NSE) in 2007, Continental Reinsurance provides support to over 200 insurance companies in Africa with its main offices in Nigeria, Cameroon, Kenya, Côte d’Ivoire, Tunisia and Botswana. It also has a specialist subsidiary – Continental Property and Engineering Risk Services (CPERS) – registered in South Africa.

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    The IMF recognised the current Somali government three years ago and concluded its first annual review of the country in more than 26 years in 2015.

    Distributed by APO on behalf of EU Delegation to Somalia.

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  • UN Secretary-General on Ghana

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    Distributed by APO on behalf of United Nations – Office of the Spokesperson for the Secretary-General.

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  • EU/US: Sanction Senior DR Congo Officials

    The European Union and United States should expand targeted sanctions against those most responsible for recent violent repression and other serious human rights violations in the Democratic Republic of Congo, a coalition of 72 Congolese and 15 international human rights organizations said today.

    Ten days before the December 19, 2016, deadline marking the end of President Joseph Kabila’s constitutionally mandated two-term limit, he still has not made any clear commitment on when or even if he will step down. At the same time, government repression against pro-democracy activists, the political opposition, largely peaceful protesters, and the media has intensified at an alarming rate.

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    Earlier targeted sanctions imposed by the US on three security force officers at the forefront of violence against protesters had a notable deterrent effect and rattled those implicated, the organizations said. The US should impose targeted sanctions against more senior level officials.

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  • Ministries of Foreign Affairs of Ghana and Cuba strengthen work relations

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    Expressing deep concern over the serious political polarization resulting in a deterioration of the security, economic and humanitarian situation in Libya, the Security Council today reiterated its support for the United Nations envoy for Libya, who leads efforts in facilitating implementation of the political agreement signed about a year ago.

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    Distributed by APO on behalf of United Nations (UN).

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