SAVE the date! MFW4A Webinar Series on Islamic Finance

13.03.2018, Global (online)

Islamic Finance: Enhancing Financial Inclusion in Africa

Date: 13 March 2018

Time: 11:00 am, Abidjan

Register now!

Making Finance Work for Africa (MFW4A) is collaborating with the Islamic Research and Training Institute (IRTI) to present a webinar themed Islamic Finance: Enhancing Financial Inclusion in Africa on March 13th, 2018 at 11:00 am GMT. The session is the third of a four-part series on the prospects of Islamic Finance in Africa and the challenges associated with its development on the continent.

Financial inclusion is increasingly becoming an important concern for a good number of countries worldwide. In recent years, access to financial services has improved exponentially in African countries, yet the continent is still lagging behind other world regions. Today, less than one adult in four has access to an account at a formal financial institution in Africa.

The Islamic Finance industry has attracted the attention of policy makers and international donors as a possible channel through which to enhance financial inclusion. The 2015 World Bank Annual Report states that “Islamic finance promotes risk sharing, connects the financial sector with the real economy, and emphasizes financial inclusion and social welfare”. Additionally, Islamic financial services encompass a broad range of instruments that reflect the varied needs and capacities of different levels of society and thus offer a comprehensive and holistic mechanism for financial inclusion.

Join us for the webinar, to have a better understanding of:

-  How Islamic Finance addresses the challenges of expanding access to finance in Africa;

-  How the use of risk-sharing financing instruments and redistributive instruments enhance access to finance; and how it compares to conventional finance;

-  How Islamic Finance has contributed to financial inclusion with assets of Islamic financial institutions more than doubling since 2006.

Main speakers from the Islamic Development Bank:

-   Mr. Hassan ALSAGOFF, Senior Micro & Rural Finance Specialist; and

-   Mr. Khalid JAWHIR, Microfinance Specialist, Agriculture and Rural Development.

The session will be moderated by:

-    Mr. Babacar SAMBE (Coordinator of Migration and Development Fund)