The Founder and President of Afro Arab Group, Alhaji Salamu Amadu has dispelled the notion that Islamic Banking is only for Muslim countries.
In a passionate advocacy for Islamic banking to be embraced in Ghana at the sidelines of the African Business Summit at the Harvard University in the US, Alhaji Amadu noted that one of the core tenets of Islamic banking is that it is development oriented and it provides easy financial opportunities for individuals, as well for the socio-economic development of a country.
The young entrepreneur also advocated for the Government of Ghana to join the Organization of Islamic Cooperation (OIC). because it would offer a lot to the development agenda of this country. He rejected suggestions that only Islamic countries were welcomed to join the OIC.
“I will like to give an example; Ivory Coast has a population of about 24 million people, which about 39% are Muslims. Yet, Ivory Coast is a member of the Organisations of Islamic Cooperation and Islamic Development Bank (IDB). For this reason, they have enjoyed a lot,” Alhaji Amadu said.
“In 2013 the Islamic Development Bank extended over 170 million USD development financing to Ivory Coast, an the amount was increased to $276.2m in 2017 and so more.”
“I believe Ghana should follow the steps of Ivory Coast and join the OIC, which will offer us the opportunity to join the Islamic Development Bank. I believe this will help the Government, as well as businessmen and women in the country through Government agencies such as the newly created ministry of inner city & and zongo development and the Ministry for Business Development.”
The Afro Arab boss, who until recently was a board member of the Ghana Gulf Chamber of Commerce, has been a key advocate of Ghana joining the OIC and introducing Islamic banking.
Last year, he attend the world Islamic Banking conference in Bahrain and made similar calls at the conference.
