Participants at three-day meeting of the first West African Islamic Investment Forum which closed yesterday, have advocated for a comprehensive investment map on Africa to be designed.
The participants also, suggested the establishment of West African Islamic Fund.
These recommendations were contained in communiqué, issued at the end of Forum’s meeting, which took place at the Tahir Guest Palace in Kano. It was signed by the secretary of the communiqué committee, Abdullahi Abubakar Lamido.
The participants called on the Forum and other stakeholders, to initiate sponsorship for continued research, publication and capacity-building, on how to explore and harness investment opportunities in West Africa.
Also, Islamic financial institutions like Zakkat and other Islamic financial instruments should be effectively utilized to alleviate poverty and facilitate economic growth and development.
They lament that, while the sub-region is endowed with a concentration of diverse human and natural resources, the region however, lacks venture capital, to exploit and utilize those resources.
They also frowned at the absence of micro-finance institutions in the sub-region, in spite of the fact that they are flourishing in other countries.
The Forum, was jointly organized by the Muslim Centre for research and Planning, Ghana’s Islamic Chamber of Commerce and Industries.
Experts from across the globe attended the three-day meeting, which from all indications, has provided a platform for productive discourse, collaboration and networking in the interest of the economic well-being of Muslims the world over.
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