30.08.2012 - Promising potential and numerous challenges facing Islamic finance in South Africa
Islamic Finance in South AfricaIslamic finance has seen exponential growth in North Africa, particularly in Egypt, Libya and Tunisia, with many Middle East financial institutions investing in the region. Considerable development has also been taking place in the south of the continent. Despite the low Muslim population in South Africa, the government has been one of the front-runners to make it a hub for Islamic finance in Africa. South Africa is the most advanced African nation in terms of robust legislative structures, strict governance structures, and regulations, which gives it an advantage in implementing Shariah-compliant financial systems...............................................Full Article: Source
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