Promoting the private sector in Africa

: developing an Islamic finance hub in North Africa

Abstract

This study looks into how we can help businesses grow in Africa. It starts from the fact that setting up a place for Islamic finance in North Africa could be helpful. To see what makes some regions better at business than others, I compared different parts of Africa using metrics like social issues and money situations as clues. Then, we looked closely at North Africa to learn more about its own special factors affecting growth there. Based on findings from this investigation into different regions' developmental needs, it is evident that tailored strategies are necessary to promote private sector expansion effectively. Nonetheless, fostering Islamic finance presents significant benefits for North African countries as its popularity continues to grow worldwide. This system offers an alternative approach based on ethical principles and risk-sharing instead of conventional financing methods. A proposed strategy with regulatory frameworks supporting Shariah-compliant financial products and services will enhance transparency while also attracting investment opportunities within the region's borders. Moreover, human capital development should ensure that skilled individuals provide solid support required within Islam's financial landscape—marketing initiatives such as branding being essential components helping beget exposure through global investors targeting clients seeking viable prospects around the world.

Date of Award	18 Oct 2023
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Scott Randall Williamson (Supervisor)