Ethiopia ICM White Paper V1

The White Paper, prepared by IFAAS for Ethiopia’s Capital Market Authority, outlines a policy framework to develop an Islamic Capital Market (ICM) that diversifies financing, boosts inclusion for the country’s sizable Muslim population, and attracts domestic and international investment; it identifies key barriers—fragmented government coordination, legal‑regulatory gaps, taxation, human‑capital shortages, and low public awareness—and proposes a phased set of reforms, including new legal and Shariah‑governance structures, tax neutrality, capacity‑building, and branding initiatives to launch Shariah‑compliant capital‑market products such as sukuk, equities and funds.