IFAAS extends its activities in Africa IFAAS, the international Islamic finance advisory firm, extends its engagement in Africa by announcing the plan to open a new office in Casablanca, Morocco’s commercial capital and the gateway to Africa.
23rd May 2017 – IFAAS, (Islamic Finance Advisory & Assurance Services – www.ifaas.com/fr) announced today at the African Islamic Finance Forum that it is setting up its fifth office in Casablanca, to harness a wide range of opportunities in Islamic finance across North and West Africa.
Through its office in Paris, since 2010, IFAAS has been very actively engaged in the French-speaking countries of North and West Africa. The firm has successfully completed several policy-level missions for a number of governments in the region and conducted many advisory projects for its institutional clients across the French-speaking Africa. The recent developments in the Islamic finance regulatory space across the region, to which IFAAS has significantly contributed with its rare expertise, and a continuous surge in the demand for the firm’s award-winning product development, training and other advisory services, have led to this strategic decision. To meet the growing demand from the region, and to be closer to its clients, IFAAS is soon opening its office in Casablanca by way of a merger with Fineopolis, another advisory firm that has been very active in Morocco for a few years.
Farrukh Raza, managing director, IFAAS Group, stated, “we have been serving North and West Africa for many years from our Paris office. Today, the time has come for us to enhance our presence in the region. By joining hands with Fineopolis who shares our passion and vision for Islamic finance in the region, our objective is to respond to our clients’ expectations by offering them proximity and a stronger proposition.” The new office, IFAAS Casablanca, will consist of four pillars including ‘Islamic finance advisory’, ‘Sharia compliance & audit’, ‘education & research’ and ‘SME finance advisory’. The latter will be dedicated to propose and promote innovative and Sharia compliant solutions for the economic development of the African SMEs, a sector representing great potential for the Islamic finance players in the region.
Dr. Sami SOULAIMANI, founder of Fineopolis, and future director of IFAAS Casablanca said: “we feel honoured becoming part of IFAAS, renowned in Islamic finance industry for its outstanding passion, expertise and experience. We always had the aspirations to serve the industry beyond the Moroccan frontiers and Casablanca offers all that is required to turn such ambitions into reality. We aim to be at the heart of the development of Islamic finance industry in the region, driven by a strong strategy and a committed team of diverse competences to meet the evolving needs of our clients. Excellence and client satisfaction will be our top priority at IFAAS Casablanca.”
With the addition of the Moroccan office to its existing network of offices across the UK, France, Bahrain and Pakistan, IFAAS will consolidate its international positioning and extend its outreach by building bridges between different regions, facilitating the growth of the Islamic finance industry worldwide.