South Africa is Africa’s second largest economy. Banking is one the few dynamic sectors in South Africa amid a difficult economy. South African banks are well known for maintaining global best practices. The centuries old First National Bank is one of South Africa’s top banking institutions. Islamic banking is set for a strong period of growth in Africa. FNB Islamic Banking is also one of South Africa’s leading providers of Islamic banking solutions. A pioneer in Islamic banking innovation in Africa, the bank recently expanded its Islamic offerings by including Shariah compliant trade finance solutions. Mr Amman Muhammad, CEO FirstRand Islamic Financial Services, FNB, tells Global Business Outlook why the bank entered the Islamic banking market in Africa. He also speaks about the immense potential of Islamic banking products in South Africa and Africa.
Europe has concerns about China’s trade policies. But the two countries may want to unite for a more rules based global trade system.