ABOUT EAST AFRICA ISLAMIC ECONOMY SUMMIT 2018
It is fair to say that Islamic Economy has gained momentum not only in East Africa but the world over with the renewed focus towards socially responsible, sustainable financial solutions. With the key drivers of Islamic Economy
focusing on these key issues;
2017 has been a challenging year for both global business and politics, traditional markets and FDI sources for East
Africa e.g Europe and America have been faced with uncertainty, this trend is likely to continue into the early part of
2018, hence the importance of widening East Africa’s debt/FDI basket to focus on sharia compliant investments.
Our region East Africa continue to register growth that is driven by domestic demand, private sector development
and strong trade relations with the rest of the world, this makes it a sure destination for investment from Islamic Finance markets in Asia and Middle East.
THE SUMMIT 2018
This year’s summit will look at Islamic economy to define the role of the financial sector, and utilize its tools and technologies as growth accelerators and as means to facilitate transactions free from traditional bureaucratic processes and drive financial inclusion.
The emergence of Fin Tech opens a host of investment opportunities in the digital Islamic economy. This nascent sector is widely receptive to innovation and in dire need of fresh talent, especially when it comes to small and medium enterprises.
East Africa’s fairly developed infrastructure and communication sector, a tech savvy young population and the ability to capitalize on technology development provides a great opportunity for the region to lead in Islamic digital economy. Accounting firm Ernst & young puts a figure of 150 million new customers by 2021 with the adaptation of Technology in Islamic Finance.