A customer consulting with a bank teller. [photo/kim.ac.ke]
Rapid advances in digital technology are poised to grow Islamic Economy, transforming the financial services landscape and creating opportunities in the East Africa region.
Agnes Gitau, Government & Corporate Relations, Global Business Services (GBS) Africa, said the region is expected to use its developed infrastructure and communication sector to grow the economy.
“The young educated tech-savvy population which has the ability to capitalize on technology development provide a great opportunity for the region to lead in the Islamic Finance digital economy,” she said.
Gitau said East Africa’s Islamic Economy Summit 2018, scheduled to take place in Nairobi on the 24th and 25th is expected to drive Islamic economy in East Africa as well as Financial inclusion in the region.
Steve Owuor, who is the conference organizer, noted that since GBS Africa started a conversation around Islamic Finance five years ago, Islamic economy and East Africa’s economic development, a lot has happened.
“This conversation has improved to become an annual gathering for the region where significant players in East Africa’s economy meet to set the way forward for the development of the sector, aligning deliberations to East Africa’s economic development agenda,” he said.
Gitau said Kenya is known not only for its athletic might but also for its mobile money technology, which continues to make efforts towards its vision to become Africa’s Financial hub.