Book Review

Muhammad Al Bashir Muhammad Al Amine. Islamic Finance and Africa’s Economic Resurgence


Islamic Finance and Africa’s economic resurgence delivers a substantial account and a solid perspective on Africa’s untapped investment opportunities and pattern of economic growth. This work is a useful resource to investors, students, educators, and Islamic finance enthusiasts. The book structure and the contents are simple and straight to the point. The author starts by educating the reader about the basic principles and concepts in Islamic finance making it much easier to understand the book even to those who are less familiar with the terms or have less knowledge of Islamic finance. In chapter one, the author tries to explore the position of Islamic finance in Africa compared to the rest of the world, and gives a general background of the study. The author also highlights some of the challenges hampering implementation of Islamic finance, general challenges facing Islamic banking industry which relate to sustainability of current growth and challenges peculiar to African continent such as perception, media propaganda and negative reporting e.g. Islamic finance supports terrorist organizations or is trying to impose shariah on non-Muslims. The author also emphasizes on the need to address such challenges in order to ensure smooth penetration of Islamic finance into African markets.