In an effort to promote Islamiceconomy globally, and in partnership with the University of Nouakchott, H.E. Mr. Yousef Khalawi, Secretary-General of the Islamic Chamber of Commerce, Industry and Agriculture, is giving a lecture entitled “Islamic Economy and Future Prospects in Africa” now, on the sidelines of ICCIA’s regional forum “Microfinance in Africa – Promising Opportunities and an Innovative Model”, aiming to shed light on the future prospects of Islamic economy in the African continent. 

In the context of the crucial importance of Islamicfinance, H.E. Mr. Yousef Khalawi referred to “Sukuk” as a more flexible funding mechanism compared to bonds, because it has funding mechanisms that are not existed in bonds, which makes it the focus of governments, even the non-Muslim ones. 
In this regard, his excellency highlighted the dire need to microfinance, particularly in the developingcountries, indicating: “If we look at the developing countries, we’ll find out that their need to this kind of funding is doubles of their need to the banking system”.

In the light of ICCIA’s efforts to develop the mechanisms of microfinance and promote its position globally, H.E. Mr. Yousef Khalawi also pointed out that Islamic economy is not only a matter of religious obligation, but it is an integrated system followed by everyone in many aspects of life, stating: “Islamic economy is an integrated system represents a conclusive form of ethical commitment”.