Islamic finance, an alternative financing tool, with credit institutions and decentralized financial systems. This is the objective of the workshop organized by the Ministry of Economy and Finance, through the Financial Sector Development Program (Pdsfi) this Thursday, December 17, 2020 in Abidjan-Plateau.

This day was held for the initiators to instruct the participants around the issue of Islamic finance. In 2018, the Central Bank of West African States (Bceao) published regulatory texts to regulate Islamic finance activity in the Uemoa zone.

For Fanny Siaka, Executive Secretary of the PDESFI, these regulatory texts on Islamic finance have not yet been sufficiently popularized among Credit Institutions and Decentralized Financial Systems, "although the first financial institution dealing with Islamic finance has been set up place since 2009," he says.

The Deputy Director of Cabinet, Representing the Minister of Economy and Finance, Bamba Vassogo indicated at the opening of this workshop that until now, the State has rather appealed to Islamic financing to meet the needs of the public sector.

But as far as the private sector is concerned, several funding opportunities are available to them. According to Minister Adama Coulibaly's collaborator, Islamic finance is ethical finance and is practiced around the world with a significant growth rate. "Islamic finance has been growing strongly for several years and today represents more than 2,000 billion dollars in financial assets," he revealed.

Affected in sub-Saharan Africa, particularly in WAEMU, the Islamic Bank plays a major role in domestic economies.

The workshop also intends to allow participants to define Islamic finance and explain its general principles, to understand the introduction to Islamic financial transactions, to master the instructions of the BCEAO relating to Islamic finance, and to better know the advantages of using Islamic finance.