Islamic Finance Facilitates Greater Investment in Egypt

Amanie Advisors and their guests have gathered for the 2nd International Shariah Investment Convention “ISIC II” that aims at discussing the development of a robust Islamic Financial Industry, as expected to be beneficial for attracting greater investment in Egypt.

Ibrahim Zahaf – Managing Director of Amanie Advisor North Africa Office in Cairo- suggested that developing the capability to structure investment according to Islamic finance principles will bring benefits to Egypt, as he said “ There are links to be established with capital-exporting countries, both in Arabian Gulf countries and in Asia”, and he added “ Increasingly , the trend favors Islamic Finance”.

The importance of increasing cross-border investment is a key theme of ISIC II, as investors from Malaysia and the Gulf, will be interested to learn about new opportunities in North Africa.

Commenting on the need to understand the potential for Islamic Finance, Zahaf said “in order to attract overseas investors, who have a preference for Islamic Finance, you have to understand the various structures, as training  will be very important in the coming months, both for intermediaries and for those seeking investment.”

ISIC II was opened with over 150 participants from over 20 countries, and many members of the Egyptian financial community were present, including Naeem Holdings, Audi Bank, ADIB, and Misr Bank.

And there were also representative of international groups such as FWC Group; active in Takaful industry, as well as Thompson Reuters, Islamic Financial Information Services “IFIS”, Securities Commission of Malaysia, and the Charted Institute of Management Accountants “CIMA”