Trends, future challenges and prospects in 6 sub-Saharan African countries
The Islamic social finance sector broadly comprises the traditional Islamic institutions based on philanthropy e.g. zakah, sadaqah and awqaf; those based on cooperation e.g. qard and kafala; and the contemporary Islamic microfinance institutions that aim at making a dent on poverty.
The 2015 edition of the Islamic Social Finance Report (ISFR) presents the trends, future challenges and prospects for the various segments of the Islamic social finance sector in six Sub-Saharan African countries, namely Sudan, Nigeria, Kenya, Mauritius, South Africa and Tanzania. For a variety of reasons, mostly historical and political, each of these countries are at different stages of development as far as zakah, waqf and Islamic microfinance institutions are concerned.