A new study reveals a billion-dollar gap for Islamic SME financing in the MENA region with Morocco leading in SME financing and Egypt trailing the pack
Thousands of small and medium enterprises (SMEs) across the Middle East and North Africa are not accessing banking services because of a lack of Shari'ah-compliant products, according to a new study released by the International Finance Corporation (IFC), a member of the World Bank Group. The study, Islamic Banking Opportunities Across Small and Medium Enterprises in MENA, highlights a potential gap of up to $13.2 billion for Islamic SME financing across nine countries in the region.