Held under the patronage of the Government of the Republic of the Sudan, the Central Bank of Sudan and the Ministry of Finance & Economic Planning, and in strategic partnership with Bank of Khartoum, the ‘2nd Annual International Forum on Islamic Finance (IFIF 2016)’ hosted 200 dignitaries, central bank representatives, ministers, C-level bankers, thought leaders and experts from across Africa and the Middle East on 9 & 10 February at Al Salam Rotana Hotel in Khartoum.
Organized by MEGA, the two-day forum was an outstanding platform for critical discussions on developing effective regulations and supervision of Islamic finance to flourish in Africa, thus putting the continent’s Islamic finance industry on a level playing field with conventional finance.
Its primary aim was to highlight the experience of Sudan’s Islamic banks in funding large-scale infrastructure projects, improve trade flows and spur funding for micro, small & medium-sized enterprises under the theme “Innovation, Inclusion and Infrastructure”. These areas are of key importance to Africa and represent the most significant opportunity for Islamic finance to contribute to the growth of the non-financial economy.
Besides being the Islamic Banking Technology Partner of the most significant gathering for Islamic banking and finance experts in Africa, Path Solutions was represented by its Group Chairman & CEO Mohammed Kateeb, who took part as a guest panelist in a session entitled ‘Bringing FinTech and Mobile Payments to Under-Banked Markets’, relating his experience in this area being the leader of the world’s number one Islamic core banking system provider, and providing insights into what needs to be done to bring Islamic technology and financial services to the underserved Sudanese market.
Moreover, IFIF 2016 hosted the launch of the ‘Sudan Islamic Finance Report 2016’ jointly prepared by the Islamic Research and Training Institute (IRTI) and the General Council for Islamic Banks and Financial Institutions (CIBAFI), in collaboration with Bank of Khartoum.