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Financial Sector as a Backbone of Economic Growth: The Banking Sector

In: Islamic Finance and Africa's Economic Resurgence

Author

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  • Muhammad Al Bashir Muhammad Al Amine

    (Bank Alkhair)

Abstract

After spending decades at the periphery of the mainstream global financial system, Africa is now becoming one of the world’s fastest growing emerging markets and an increasingly popular investment destination. There are clear reasons for this reassessment, as illustrated in the previous chapter. African economies are expanding on the back of increasing commodity prices, trade, and foreign investment, while increasing consumer affluence is helping to drive the demand for goods and services.

Suggested Citation

  • Muhammad Al Bashir Muhammad Al Amine, 2016. "Financial Sector as a Backbone of Economic Growth: The Banking Sector," Palgrave Studies in Islamic Banking, Finance and Economics, in: Islamic Finance and Africa's Economic Resurgence, chapter 0, pages 163-195, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-3-319-28835-2_5
    DOI: 10.1007/978-3-319-28835-2_5
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