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Under the Patronage of


9 & 10 February 2016, Khartoum, Sudan

Welcome to the 2nd International Forum on Islamic Finance (IFIF), the definitive platform to tap into Islamic finance opportunities in Africa.


Connecting Africa with Key markets for Islamic finance and the world

The 2nd International Forum on Islamic Finance (IFIF) will serve as a platform for the International Islamic finance and investments industry to converge in Khartoum to develop effective strategic action plans aimed at realizing the Islamic banking and finance opportunity in Africa.

Sudan is the only country in Africa, and one of two globally, that has a banking sector that is entirely Islamic. With deep experience in Islamic finance and an abundant wealth of mineral resources, Sudan is in an ideal position to demonstrate how Islamic finance can work to build inclusive economic growth making finance serve the economy.

The primary aim of IFIF is 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.  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.


  • Demonstrate lean and micro-cost distributions channel innovation that is critical for expansion and roll out in African markets

  • Showcase innovation from African countries such as Sudan and elsewhere that can be shared with other emerging markets

  • Identify growth opportunities in Africa and explore the role of Islamic finance in realizing these opportunities

  • Provide an outlook on the development of Islamic finance and the regulatory infrastructure needed to facilitate it within Africa

  • Identify how to accelerate growth to allow Islamic finance to service the 400 million Muslims and other non-Muslims across Africa

  • Provide a platform to connect African corporate and government leaders with key stakeholders in Islamic finance such as large multilateral institutions, banks, asset managers, think-tanks

  • Provide fresh perspectives and generate actionable insights for the industry’s development

  • Identify ways to build Islamic finance capabilities in Africa



When Sudan shifted to make its entire banking system based on Shariah principles, it was an innovative idea.  Today, the frontier has shifted so that to remain innovative, it is no longer enough to offer just simple banking services in a Shariah compliant way to be on the forefront of innovation.  Instead, finding ways to leverage advances in technology, including crowdfunding, peer-to-peer financing and mobile payment technology.  The key today is to deliver financial services more efficiently and in a way that is more connected to the individuals and businesses who operate in the real economy rather than just what is most convenient to the banking industry.


With the innovation frontier being shifted out towards the real economy and outside of the hallowed halls of the banking sector, it is becoming increasingly possible to broaden the market for Islamic banks from the wealthy and middle class down to the lower income segments of the population. Whether they are entrepreneurs seeking microfinance for their business, individuals without physical access to a branch being able to engage through mobile banking including mobile payment systems, or bringing SMEs into the mainstream financial system, inclusion is a way to build a market that is already here but is not being served by Islamic banks today.



Spending financed by foreign investors in recent years has led to significant development in the power sector but huge infrastructure finance needs remain, particularly in the transport and water sector.  A report produced by the World Bank after a careful assessment of existing infrastructure found that increasing investment on infrastructure from 6% of GDP today to 20% of GDP was needed to meet the demands. 

The return potential for Sudan is significant: fully funding the $2.9 billion in infrastructure spending each year and directing it towards areas of greatest needs (road and port connections with other countries in East Africa and providing clean water to the population) will unlock economic growth potential of 1.7% per year making infrastructure finance valuable for Sudan’s people and for those able to finance it.  Islamic finance, with a long history in Sudan, a tangible connection to the underlying economy and preference for projects that are beneficial for both parties is a natural fit to not just meet Sudan’s needs but show how Islamic finance can benefit the whole African continent.



Why Sudan?

Sudan operates one of just two fully Islamic financial systems and has encountered many challenges along the way to creating a full financial ecosystem.  One of the most innovative segments of its financial system is the micro-, small- and medium-sized enterprise financing that has developed with a focus on Sudan’s agricultural sector.  The global financial system is still reckoning with the importance of financial inclusion and many areas of the Islamic finance industry have not yet turned their focus to this area.

Embracing the need within its own market, Sudan welcomed the assistance of the Islamic Development Bank which owns part of Bank of Khartoum, to develop innovative microfinance products for that bank’s microfinance division.  Some of these products focused on the agricultural sector, were recognized last year with the Ethical Finance Initiative Award, part of the EFICA Awards given by Thomson Reuters and Abu Dhabi Islamic Bank.

Exclusive launch of Sudan Islamic Finance Report 2016


Sudan Islamic Finance Report 2016  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. The report provides substantive due diligence on the opportunities for Islamic financial and non-financial services in Sudan. The Report includes an accurate pulse of retail consumers based on national level banking, insurance survey and growth projections scenarios for Islamic Banking and takaful up to 2019; Interviews with regulators, key market players, and industry stakeholders; and overview assessment on the development of Islamic finance regulatory frameworks in Sudan and due diligence for unique sharia-compliant investment opportunities in Sudan.

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H.E. Bakri Hassan Salih

First Vice President
Republic of the Sudan


H.E. Badr El-Din Mahmoud Abbas

Minister of Finance and National Economy
Republic of the Sudan


H.E. Abdelrahman Hassan Abdelrahman Hashim

Central Bank of Sudan


Musaed Mohammed Ahmed

Head of Sudan’s Banks Union


Professor Dr. Datuk Rifaat Ahmed Abdel Karim

Chief Executive Officer
International Islamic Liquidity Management Corporation

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Anindya Ghose

Professor of IT and Professor of Marketing and Director, Center for Business Analytics
NYU Stern School of Business

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Fadi Salim Al Faqih

Chief Executive Officer
Bank of Khartoum

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Dr. Andrew S. Nevin

Partner – FS Advisory Leader and Chief Economist
PwC Nigeria

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Abdel-Rahman Ghandour

Deputy Country Director – Sudan Country Office
United Nations Development Programme

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Dr. Alberto Brugnoni

Managing Partner

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Anas El Hasnaoui

General Manager
IBF Group Consulting

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Ashar Nazim

Partner – Global Head of Islamic Banking Centre

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Professor Badr El Din A. Ibrahim

President of Microfinance Unit
Central Bank of Sudan

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Brian Richardson

Chief Executive Officer

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Kashif Naeem

EVP & Group Head – Retail SME & Microfinance
Bank of Khartoum

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Dr. Eltegani Abdel Gadir Ahmed

Higher Consultative Committee for Government Securities

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Fadilah Tchoumba

Lead Business and Strategy Analyst


Hiba Farid

Chief Executive Officer
Leaders of Change Consultancy

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Justin Floyd

CEO & Deputy Chairman
RedCloud Technologies Ltd

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Mohammed Kateeb

Group Chairman & CEO
Path Solutions

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Khaled M. Gökçezadeh

EVP Group Head of Treasury & Investment Banking
Bank of Khartoum

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Ridha Meftah

Executive Director – Advisory / Financial Services
EY Tunisia

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Mohammad Farrukh Raza

Managing Director

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Mosadag El Malik

General Manager
Qatar National Bank


W. Caffey Norman

Squire Patton Boggs

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Dr. Taha Eltayeb Ahmed

Chief Executive Officer
Financial Investment Bank


Alhaji (Dr.) Umaru Abdul Mutallab, CON

Jaiz Bank Plc.

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Dan E. Waltz

Squire Patton Boggs

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El Rasheed Abdel Rahman Ali

Deputy General Manager
Al Baraka Bank Sudan


Professor Humayon Dar

Edbiz Corporation

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Ammar Radhi

Market Research and Product Development
Thomson Reuters

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Ali Amin

General Manager


Nouran Youssef

Deputy Debt Manager
Ministry of Finance, Egypt


John Foster

Africa Editor


Conference Day 1

  • 09:00 - 10:00 Registration and Morning Refreshments
  • 10:20 - 10:30 Reading from the Holy Quran
  • 10:30 - 10:45 Opening Remarks
  • 10:45 - 11:15 Opening address
  • 11:15 - 11:30 Exclusive launch of Islamic Finance Report on Sudan by Thomson Reuters in collaboration with CIBAFI and IRTI
  • 11:30 - 12:10 Inaugural Keynote Address: Assessing the Growth Potential of Islamic finance
  • 12:10 - 13:00 Session 3: CEO Leadership Panel: Africa’s Contribution to a More Authentic and Inclusive Islamic Finance Narrative
  • 13:00 - 14:30 Conference Luncheon
  • 14:30 - 15:15 Session 4: Building on the Foundation laid by Sukuk to Strengthen the Islamic Capital Markets and other Islamic Financial Services in Africa
  • 15:15 - 15:45 Session 5: Effective Utilization of the Wealth Redistributive Instruments in Islamic Finance to Generate Inclusive Growth in Africa
  • 15:45 - 16:15 Refreshments Break
  • 16:15 - 16:45 Interview with an Industry Pioneer – Capitalizing on the Islamic Finance Opportunity in Africa
  • 16:45 - 17:45 Session 7: Addressing legal and compliance challenges for the financial institutions in Africa
  • 17:45 Close of Conference Day 1

Conference Day 2

  • 08:00 - 9:00 Morning Refreshments
  • 09:00 - 09:10 Moderator’s Opening Remarks
  • 09:10 - 10:00 Session 8: Addressing the Regulatory Challenges to accelerate the development of Islamic Finance in Africa
  • 10:00 - 10:30 Session 9: Emerging Markets for Islamic Finance in Africa - Assessing the Growth Potential in Tunisia and Nigeria
  • 10:30 - 11:00 Networking Break and Refreshments
  • 11:00 - 11:45 Session 10: Microfinance and its Role as an Impetus for Financial Inclusion
  • 11:45 - 12:30 Session 11: Bringing FinTech and Mobile Payments to Under-Banked Markets
  • 12:30 - 13:00 A Conversation with an Exemplary Leader on his Journey and the Profound Impact that it has made on the Islamic Finance Industry
  • 13:00 - 13:10 Moderator’s Closing Remarks
  • 13:10 - 15:00 Conference Luncheon
  • 15:00 Close of the 2nd Annual International Forum on Islamic Finance

Partners confirmed for IFIF 2016

Strategic Partner


Regional Banking Partner


Regional Banking Partner


Knowledge Partner


Islamic Banking Technology Partner


International Banking Partner

BOK International Logo

Media Partners

Media Partner

Africa-Global-Funds Logo

Media Partner


Media Partner

Africa Business

Media Partner


Media Partner


Media Partner


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Media Partner

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Media Partner

al morakeb

Media Partner


Media Partner

islamic economist

Media Partner

islamic banker asia

Media Partner

islamic biz

Media Partner


Media Partner

real leaders

Media Partner


Media Partner

the business year

Media Partner


Media Partner


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Media Partner

trade finance

Media Partner


Media Partner


Media Partner

Edbiz Consulting

Media Partner


Who’s Attending?


  1. International business leaders offering Islamic financial products
  2. Ministers, policymakers, political leaders, senior government officials from countries with Islamic financial institutions or links to the Organization of Islamic Cooperation (OIC) countries
  3. Technology company C-level executives, business development managers
  4. Innovators in the financial technology sector
  5. Ethical finance leaders with current or potential operations in OIC countries
  6. Business specialists and professionals, mid-level management, business development managers, analysts, risk professionals in the Islamic finance sector
  7. Senior representatives of multilateral bodies, policy making, stakeholder, infrastructure and export finance/export promotion institutions
  8. Shariah scholars and advisors
  9. Lawyers and legal experts
  10. Professors, academics and journalists

Benefits to our delegates


  1. Gain expert insight into how the Islamic finance industry can engage with African governments, corporates and institutions
  2. Explore how Islamic finance can bring its own value proposition and couple them with African innovations to support greater the economic development of the African continent
  3. Meet more than 250 senior executives from across the global Islamic finance industry
  4. Learn from of the most distinguished and influential speakers
  5. Participate in lively discussions and engage with global thought leaders
  6. Network with key individuals
  7. Understand where Islamic finance industry can engage in Africa’s future growth

Benefit to our partners


  1. Increase your brand promotion and visibility to the international audience assembled at the forum
  2. Network with key stakeholders, decision makers and heads of institutions to generate new business leads
  3. Interact with the participants and showcase your brand at the forum exhibition
  4. Raise your corporate profile in being a leader in developing the Islamic finance industry’s next frontier
  5. Increase your global recognition by utilizing the highly effective marketing engine with a global reach.


Got inquiries about the conference? Please drop us a line or you may ask @meglobaladvisor on Twitter.

For Sponsorship, Exhibition and
Delegate Inquiries, please contact:

For Marketing and Media Inquiries:

Nikita Kandath

Spread the word via Twitter! #IFIF2016

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