MFW4A-CMS & UKIFC Islamic Finance Webinar #2

20.06.2017, Global

Development of Islamic Finance in Africa from a Legal and Regulatory Framework perspective

Date: 20 June 2017

Time: 11:00 am Abidjan | 12:00 noon, Lagos |12:00 noon, London | 02:00 pm Nairobi |

Making Finance Work for Africa (MFW4A), CMS and UKIFC are pleased to present a webinar on Islamic Finance: legal and regulatory framework and corresponding challenges in Africa.

The fundamentals of Islamic Banking and Finance and particularly the aspects of no-interest and profit and loss sharing are such that the industry cannot be fully governed by the same regulations that govern conventional banking.

In most jurisdictions today, the legal and regulatory framework of the Islamic financial industry has been developed in line with international standards and best practices while taking into account the distinct characteristics of the industry inspired by Sharīah.

It is becoming increasingly evident that Islamic Banking can be of immense benefit to players regardless of their religious persuasions. It is however important to note that Islamic Banking, despite being an alternative to conventional banking, is unique and thus calls for a separate regulatory framework.

Join-us to learn more about the approaches to the implementation of a Legal and Regulatory Framework for Islamic Finance. How Islamic laws can be harmonized with the existing legal framework? How a legal, regulatory and enabling environment can accommodate a number of problems such as credibility, regulatory enforceability and uniformity in a proper and comprehensive perspective?

This session will shed light on the emerging industry from a legal and regulatory perspective, with a focus on the grounding principles of Islamic laws, namely Shariah, harmonization between the latter's principles and the existing legal framework, and enabling environment that accommodates and facilitates the development of the industry.

Registration for this webinar session is free. To participate, click 'here'.

Speakers will include Adli SHAKEEL from CMS and Omar SHAIKH from UKIFC. The session will be moderated by Edna DAMBE, MD, Money Matters & Facilitator of African Pension Funds Network.