The Africa Islamic Economic Foundation (AFRIEF) is an independent development organization that provides a distinctive Islamic perspective on economic development and social issues. Working in close collaboration with its strategic partners, AFRIEF networks with individuals, Governments, public and private sector organizations and supports transformative strategies among community stakeholders, an
chor institutions, and key policymakers in AU and OIC member countries. Its staff and associates are involved in a wide range of projects involving research, training, policy development, and community-focused work designed to promote asset-based/interest-free paradigm of economic development in Africa. Within the general promotion of Islamic Economics and Finance, AFRIEF puts research work at the centre of its efforts, with the goal of better understanding and interpreting trends and structures of social-economic phenomena for the advancement of knowledge. Recognising that a country’s GDP does not tell the whole story about the health of its economy, AFRIEF promotes an alternative economic thought that emphasizes and places the well-being of the individual on centre stage. AFRIEF supports national regulatory institutions like Central Banks, Security and Exchange, and Insurance regulatory bodies to develop plans and roadmaps towards a well-functioning Islamic Finance and Halal economic system. It also works with relevant stakeholders to establish, develop, promote and regulate a financial market based on Shari’ah principles and subsequently, create a secondary market for Islamic capital market instruments in Africa. Organizationally, the Africa Islamic Economic Forum (AIEF) that is designed to be held annually in Kano, the Federal Republic of Nigeria is the Foundation’s most important platform for leaders and representatives of civil society organisations, governments, regional economic agencies and the private sector to consider major African economic issues of the day and to brainstorm on solutions to address these challenges from the perspectives of the Islamic paradigm of economic development.
