Nigeria and Kenya are not the top markets in the Islamic finance sphere. Neither has a government handing out incentives to become the next global hub in Islamic finance. They are each located in different parts of Sub-Saharan Africa where Islamic finance is just beginning to grow. Recent developments in these countries showing that takaful can appeal to a broader consumer base and can compete directly with conventional insurers on their underlying economics, not just on Sharia-compliance, will make these regions important to watch for signs of continued development
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