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Islamic Banking Assets in Africa Anticipated to See Growth Over Next 10 Years: Moody’s 

Islamic Banking Assets in Africa Anticipated to See Growth Over Next 10 Years: Moody’s 

https://islamicmarkets.com/articles/islamic-banking-assets-in-africa-anticipated-to-see-growth-over
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Africa’s Islamic banking assets are anticipated to grow significantly during the next decade, considering the continent’s sizable Muslim population and fresh starting point, as per a report by Moody's Investors Service.

Why it Matters?

The unbanked population of Africa provide an untapped source of prospective deposits and investments, especially those who reject the conventional financial system because of their religious convictions. Nevertheless, the expansion of Islamic banking in the continent will be hampered by certain challenges over the next 12 to 18 months by persisting issues that include the fact African conventional banks are increasingly competing with one another, creating a challenging climate for the growth of the Islamic b...