Ethiopia Central bank planning to develop Islamic finance
Автор: CGTN Africa
Загружено: 2016-11-05
Просмотров: 1937
Описание: Ethiopia's central bank aims to develop Islamic finance to help expand financial access and inclusion, part of wider government efforts to mobilize domestic resources to diversify its economy. The country has one of the highest economic growth rates in Africa, but relies heavily on an agricultural sector that contributes to around 80 percent of exports. Islamic finance could help in this endeavor, so the central bank is conducting a study to determine the demand for sharia compliant financial products. This in a country where about a third of the population of 100 million is Muslim. Currently eight out of 18 financial institutions offer sharia compliant products via Islamic windows but they have so far mobilized less than 1 percent of total deposits.
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