Shelter Afrique, a leading Pan-African housing finance institution has announced a collaboration with the Islamic Development Bank Institute (IsDBI) that aims to develop Islamic Housing Finance Products across Africa.
- •Several African countries are making notable progress in developing their Islamic finance markets, presenting untapped growth opportunities.
- •Shelter Afrique views the development of Islamic finance products as a viable alternative financing model to effectively address Africa’s housing and urban development challenges.
Thierno Habib-Hann, Managing Director of Shelter-Afrique, said “We are thrilled to collaborate closely with IsDBI on this initiative. Rent-to-own schemes are natural products for Islamic finance and, hence will be leveraged to address the large housing gap. In addition, this collaboration aligns with our commitment to dedicated funding thematics dedicated to ‘Green financing and Islamic finance”.
- •Shelter Afrique’s continuous efforts to enhance its product offerings underscore its commitment to meeting the diverse needs of its clients and fulfilling its mandate of delivering affordable housing for all in Africa.
- •The collaboration with IsDB, a multilateral development bank known for its impactful initiatives in member countries, positions Shelter Afrique to pioneer developing and delivering unique financial offerings and structures for housing infrastructure across the continent.
Dr. Sami Al-Suwailem, Acting Director General of the Islamic Development Bank Institute, said, “This partnership is part of our collective effort to promote inclusive and sustainable housing solutions through Islamic finance. The Technical Assistance provided by IsDBI aims to equip Shelter Afrique with the necessary tools to navigate the evolving landscape of affordable housing and urban development in Africa. We believe that through strategic collaborations like these, we can drive positive change and contribute to the continent’s socio-economic development.”
- •The Islamic Development Bank Institute is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide.
- •The IsDB Institute enables economic development through pioneering research and original economic analysis, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives.
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