Africa Wants to Attract Islamic Banking Investors
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In less than a decade, the value of the Sukuk market, financial instruments that are the Islamic equivalent of bonds has reached an impressive $112 billion and Africa is being eyed by Islamic bankers as a promising destination.
Wikipedia defines Sukuk as securities that comply with the Islamic law (Shariah) and its investment principles, which prohibit the charging or paying of interest. Financial assets that comply with the Islamic law can be classified in accordance with their tradability and non-tradability in the secondary markets. Fixed-income, interest-bearing bonds are not permissible in Islam. Continue here | Subscribe here
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