Islamic Finance In Sub-Saharan Africa: Limited Opportunities
Sub-Saharan Africa (SSA) is often seen as a region that has exciting potential for the Islamic finance market, being home for more than 250mn Muslims. Beside the obvious religious aspects, the products are typically based on tangible assets and prohibit excessive risk-taking.
At this point, Islamic finance in SSA is focused in a few key markets and there are only a few dedicated institutions. South Africa is one of the leaders, thanks to Al Baraka Bank and Oasis Group.