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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