Kenya hosts Islamic Economy Summit 2017

Kenya host ۲nd East Africa’s Islamic Economy Summit ۲۰۱۷

Kenya will host the 2nd edition of the East Africa Islamic Economy Summit (EAIES 2017) aiming focus on Islamic Finance & banking. ‘’East Africa like the rest of Africa face a severe infrastructure deficit, with governments’ budgets under pressure, said Agnes Gitau."

Hawzah News Agency (Nairobi, Kenya) - The Islamic Economy has seen tremendous increase in recent years transcending its traditional geographic boundaries, its entrance into East Africa could revolutionize the region’s finance & banking sector, Tourism, and Hotel sector and Fast moving consumer goods.

To explore how East Africa can tap into the Islamic Economy, with an estimated global value of $2.3 trillion, Kenya will host the 2nd edition of the East Africa Islamic Economy Summit (EAIES 2017) on the 10th & 11th April 2017.

Another platform endorsed by East Africa’s Private and public sector leadership with speakers drawn from Governments, international experts on Islamic Finance and Economy, Banking sector leaders, regulatory authorities etc.

Discussion points will focus on Islamic Finance & banking looking at its development within the East Africa; East Africa’s Halal Economy – a lucrative but invisible market – Opportunities for EAC; Takaful & Retakaful sector opportunities for East Africa.

‘’East Africa like the rest of Africa face a severe infrastructure deficit, with governments’ budgets under pressure due to low commodity prices and changing geo politics from the region’s traditional development and investment partners in Europe and America, Sharia compliant bonds or Sukuk must be an alternative to finance East Africa’s projects but their issuance are hindered by technical and legal hurdles, limited knowledge by end users and policy makers, making this summit an important platform to hear from experts in Islamic Finance instruments‘’ Agnes Gitau, GBS Africa speaking about the conference

East Africa member states must explore opportunities to grow its Halal Food sector, given its growing Muslim Population and its shared cultural values where Halal food is not only consumed by the Muslim community but most people in the region.

Another sector the summit will cover in detail is Halal Tourism and how the region’s struggling tourism sector can get a slice of Halal tourism, one of the fastest growing areas of global tourism estimated at $219 billion. Tourism stakeholders will discuss what infrastructure our region requires to tap into this market.

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