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Islamic Bonds find favor in West Africa

Image Credit: Reuters

Following Senegal’s $208 million sukuk raise in 2014, Nigeria and Cote d’Ivoire are looking to emulate the country’s success, according to the head of the Islamic Development Bank’s private sector arm, the Islamic Corporation for the development of the private sector or ICD.  Despite strong growth in other regions of the world, Islamic finance has lagged in Africa, home to a quarter of the world’s muslim population, presenting the institution with a signficant opportunity. Discussions of potential islamic bond issuances are under way with a number of West African countries.

Read more at Reuters…

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