GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Tuesday, January 10th 2017 - DUBAI, UAE: Major infrastructure projects in the Middle East and across Sub-Saharan Africa are increasingly becoming a key investment target for Islamic investors, according to Project & Infrastructure Partner at Jones Day, Nadim Khan.

Billions of US dollars' worth of project capital from the growing Islamic economy is a potential source of investment for the type of mega infrastructure that underpins economic and social development across Sub-Saharan Africa. However, the legal and regulatory environments in key African nations will need to evolve to better accommodate the needs of Sharia investors.

“Infrastructure is the driving force behind the emergence and continued growth of Africa's major new economies. And in order to sustain their trajectory and realize their promise they will need to continue to attract significant levels of project capital to fund their development,” said Nadim Khan.

“The Islamic investment community has the capital, and it has the desire to engage in projects that deliver clear social and economic benefits to people and shareholders,” continued Khan, “so to close this gap a more carefully structured regulatory environment that enables Sharia transactions is needed.”

Infrastructure spending in the sub-Saharan region is projected to grow by 10% a year over the next decade – exceeding $180 billion by 2025 while maintaining its 2% share of the global infrastructure market. Yet while countries such as Nigeria, Ghana, Kenya and South Africa continue to spend billions of dollars on transformational domestic infrastructure projects, the Islamic investment community is currently underrepresented.

Two years ago, South Africa issued a US$500m 5.75-year Sukuk - the largest Sukuk issuance from Sub-Saharan Africa at the time and only the third Sukuk to be issued by a non-Islamic country.

“South Africa's successful Sukuk issuance is a demonstration of promise and precedence for Islamic investment in Sub-Saharan Africa,” continued Khan.
“What ultimately sets Islamic investors apart is the inherent requirement to deliver meaningful social impact through every transaction. This value-driven approach to investing underpins Islamic finance and makes every new road, transport project and power plant in a developing country ideal for such investors,” he concluded.

The Islamic economy is set to grow at 8 per cent compound annual growth rate (CAGR), from US$1.9 trillion (Dh6.9 trillion) now, to US$3 trillion by 2021 and the sector doubled in size from 2011 to 2015, making it more critical than ever to engage Islamic banks.


Posted by : GoDubai Editorial Team
Viewed 4563 times
Posted on : Tuesday, January 10, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : ADNEC Names EDIC, Tawazun Holding and ADSB Partners at IDEX and NAVDEX 2017
Next Story : Digitisation is becoming the most common trend among MENA businesses, says new Canon study
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Chloe introduces the Daisy children's sunglass collection
‘Go Ahead, Love the Sun' with COÉGA Sunwear's Spring/Summer 2017 collection
Grand Optics exclusive: MARNI eyewear collection
#NoFilter: Just High Definition Clean for Our Clothes
Re-Salons and Spas Valentine's event
With Love On Mother's Day
CH Carolina Herrera: Byzantine Bag Collection
GUESS Spring/Summer 2017 Collection
Introducing The Levi's® 501® Skinny
Mouawad - Royale Rings: Masterpieces Fit for a Queen
L'Oréal Group International Sustainability Workshop hits Dubai
Louis Moinet celebrates 200 years of the chronograph
Malabar Gold & Diamonds' opened its 11th showroom in Saudi Arabia at Jubail & Re...
Ulysse Nardin InnoVision 2: undisputed pioneer of innovations in timekeeping
Start a love affair with DUNE LONDON - Dune London SS17
Bridging refinement and watchmaking know-how Corum Golden Bridge Rectangle
Ulysse Nardin North Sea Minute Repeater
Tissot T-Race MotoGPTM Automatic Limited Edition 2017
PUMA and Daily Paper tap into African Heritage, keeping it fresh for Spring-Summ...
Runway Anywhere and Everywhere: the Michael Kors Collection Fall 2017 Runway Sho...
Great Britain One Pro Cycling Team visit F&F Store for Styling Tips
Swatch Crows at Dawn for Chinese New Year
LG and Google Partner to Develop First Android Wear 2.0 Watches
Eberhard & Co. introduces the new SCAFOGRAF GMT
Roderer launches bespoke Trophy line in Dubai
Calzedonia Valentine's Day 2017 Straight to your heart
Mom, A title just above queen - Mother's Day gift guide
Dubai Fashion League 2017 to bring top celebrity designers to Dubai
Wellness Centre to offer a 360 degree solution in health
New Bridal Collection from kate spade new york
Etihad Airways Invites Fashion's Elite to Celebrate the Launch of ‘Runway to Runway'
Dubai's Deputy Ruler Opens World's Largest Power Show
Great Success of 17th Edition of Indiasoft 2017
Global auto aftermarket players turn to Automechanika Dubai 2017 amid upward tre...
130 showrooms,14 countries. Inspiring milestones in a short span of 30 years by ...
Mouawad Jewellery to Sparkle at Doha Jewellery and Watch Exhibition 2017
The 16th Eurocom Worldwide Conference takes off in the Middle Eastern metropole ...
Splash runway presentation at Mall of the emirates in the presence of Splash bra...
Girard-Perregaux to display exquisite complications worth QAR 18 million at DJWE
Let the Shopping Spree Begin with Hili Mall's Shop & Win Campaign!
Aster Nurture introduces parents to Baby Safety training via Aster S.H.I.E.L.D I...
Dress up with REDTAG for your Valentine's Day celebrations
Lockheed Martin to Showcase Latest Products and Capabilities at IDEX 2017
Facebook Challenges Developers In The Middle East And Africa To Create The Smart...
“Retail Leaders Circle MENA: Key Industry Summit brings Region's Retail Leaders...
Al Tayer: Mohammed bin Rashid's vision transforms Dubai into a global driverless...
Swatch Celebrates the Best Moms in the World With a Mother's Day Special
Tesla Launches in the UAE with Model S and Model X
Integrated Technology and Processes Key to Navigating Big Data Analytics
ADNOC to capitalise on increased sulphur processing capabilities and target new ...