SEC and Company Collaborate to Boost Islamic Finance in Africa

The Securities and Exchange Commission (SEC) in collaboration with a company is working to enhance the non-interest finance market in Africa. The African International Conference on Islamic Finance (AICIF) recently held a Pitch Competition in Abuja as part of its activities.

The event, leading up to the 7th AICIF in November, aimed to bring together innovators, regulators, investors, and entrepreneurs under the theme "Africa Emerging Prosperous and Inclusive." Ummahani Ahmad Amin, the Conference Chair, highlighted the historic step towards positioning Nigeria at the center of the ethical finance revolution in Africa. The SEC Director, Abdulkadir Abbas, emphasized the development of a robust framework to support Islamic finance and expand its reach in the capital market.