International consultancy IFAAS (Islamic Finance Advisory & Assurance Services – www.ifaas.com) and Kramer Levin, the full-service law firm, have collaborated to present the inaugural Africa Sukuk Conference. This international event is dedicated to examining the emerging role of Sukuk, as Islamic bonds, in the development of African economies.
The conference, being organised by Finéopolis Institute, the research and training arm of IFAAS Group, is scheduled to be held on 19th and 20th March 19, 2019 at Sofitel in Casablanca, Morocco, the leading North African financial hub.
Strategic partners for Africa Sukuk Conference include the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IsDB) Group, and Al Akhdar Bank, Moroccan participatory bank launched in 2017.
For further information about the event and to register, visit http://www.fineopolis.com/sukuk-africa-2019
According to a recent report by Islamic finance standards-setting body, International Islamic Financial Market (IIFM), Sukuk issuances in Africa reached nearly $22 billion in 2018. South Africa and West African states have issued several sovereign Sukuk, and in October 2018, Morocco joined them with its debut issuance of 1 billion Moroccan Dirhams, equivalent to US$100 million.
Aimed at facilitating African and international players actively seeking opportunities, the Africa Sukuk Conference is an essential meeting platform for potential Sukuk issuers, investors and regulators. The agenda highlights the different opportunities and challenges associated with Sukuk development for both governments and private sector operators. It also offers policymakers, professionals and corporate decision-makers from different regions, the opportunity to share experiences from across the growing global market.
According to Mr Farrukh Raza, CEO of IFAAS Group, "Interest in Sukuk is growing in Africa, amongst both national and private entities. Many countries have made tremendous progress with the integration of Islamic finance into their national regulatory frameworks. Sukuk is at the heart of their strategy as it offers growing economies that are seeking diversified funding sources a number of opportunities. Being an impact-driven advisory, it is necessary for us to facilitate the adoption of Sukuk across Africa, as a viable financial instrument."
Mr. Hubert de Vauplane, Partner at Kramer Levin added, "The number of African banks is growing, and they are increasingly offering a wider range of Islamic products and services. However, they need support in order to develop their offerings and meet their burgeoning need for finance. Sukuk are increasingly becoming the product of choice to facilitate this, as well as offering many opportunities for investors. Our role is to provide them with the legal certainty for the success of their programs."
For further information about the event and to register visit http://www.fineopolis.com/sukuk-africa-2019
About IFAAS & Finéopolis Institute
Finéopolis Institute (www.fineopolis.com) is the research and training arm of IFAAS Group, the leading international Islamic finance consultancy (www.ifaas.com). IFAAS supports financial institutions and regulators to build a strong and inclusive Islamic finance ecosystem and contributes actively to the development of the Islamic finance across the globe with its expert advisory. The firm serves its clients from its offices located in five countries. It has successfully completed projects in 45 countries across five continents since its inception in 2007. Finéopolis Instiute has been publishing reports, organising international conferences and has delivered training to more than 4,000 executives and professionals around the world since its creation in 2014.
About Kramer Levin Naftalis & Frankel LLP
Kramer Levin provides its clients proactive, creative and pragmatic solutions that address today’s most challenging legal issues. The firm is headquartered in New York with offices in Silicon Valley and Paris. Kramer Levin is very active in France and Africa. The firm fosters a strong culture of involvement in public and community service. For more information, visit www.kramerlevin.com.
FOR FURTHER INFORMATION CONTACT:
Ghezala Sultan |
Ghezala.sultan@outlook-communications.com
Sabrina EL HAFIANE |
sabrina.elhafiane@ifaas.com |
+212 (0) 522 250 555
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