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While talking about African & Central Asian road show, he further indicates that how
this roadshow can be beneficial and helpful in promotion of Islamic Finance in both
regions. Many new Islamic Finance markets are seen to be emerging on the horizon
in the world. If we see on the regional basis, in East Africa, we find that Uganda has
recently passed an Islamic Financial bill through Parliament. Islamic banking &
Finance in Kenya and Tanzania is already flourishing very well. Morocco & Tunisia are
emerging markets in North Africa while Nigeria, Senegal, Mauritania, Ivory Cost in
West Africa has an organized system of Islamic Finance while Sukuk is also
strengthening its roots in these regions. As far as Central Asia is concerned, this
year will prove to be a better year with respect to the previous year. The main
reason is the increasing tendency of Russia towards Islamic Banking & Finance; the
countries in central Asia are closer to Russia in Banking & Finance despite its having
been separated from USSR.
He further added saying that besides the promotion of Islamic Banking and Finance,
the purpose of the road show is also to acknowledge the need of giving hype to the
system beyond any political and religious refrains. Specialized training workshops
on various relevant topics will also be part of this two nations roadshow like Takaful
workshop in Kazakhstan, Islamic banking and finance workshop in Tajikistan, Islamic
Microfinance in Nigeria, Islamic Agricole and Rural Finance in Kenya, Takaful
workshop in Mauritius. The core objective of the entire program is to strengthen the
foundations of Islamic banking and finance in African & Central Asian region further
to give support to the progress of Islamic mode of banking and finance in the
region.