null Lack of regulatory milieu hinders Islamic finance growth in North Africa
Lack of regulatory milieu hinders Islamic finance growth in North Africa
18 May 2021 | Tuesday Source: Zawya
While there has been some progress over the past decade, the contribution of Islamic finance to North African economies remains small due to a lack of a favorable regulatory environment in the region, S&P Global Ratings said in a new report titled “Islamic Finance is still finding its feet in North Africa”.
This is despite the severe economic fallout from the COVID-19 pandemic and the limited fiscal space for economies in the North African region pushing governments to tap into all sources of financing, including those compliant with Sharia law.