Browsing: Africa Islamic banking

Moody’s points out that the “…good resilience of Islamic banks despite a difficult operating environment in many African countries, suggests that Sukuk issuance will continue to grow steadily and that these banks will continue to perform well.”

Places like South Africa where the First National Bank, the third-largest banking group in South Africa and the continent, associates its growth to “Islamic” deposits.  The South African Islamic bank Al Baraka enjoyed increased profits by 12.4% between January and June 2019 compared to the previous year.…