1 st West Africa Islamic Investment Forum

1. 1st West Africa Islamic Investment Forum • Date: 28th February - 1st March, 2011/ 26th – 27th Rabi’ul Auwal 1432 A.H. • Venue: Tahir Guest Palace Kano, Federal Republic of Nigeria

3. ICCI’S TEN-YEAR WORK PLAN & ITS IMPLEMENTATION MECHANISMS

4. 1 Main targets of the Islamic Chamber of Commerce & Industry's Ten-Year work plan 2 ICCI’S Implementation Mechanisms. Foras Proposed Projects In West African Countries, (Senegal, Mali, Benin, Mauritania) & Sudan 3 4 General Conditions & Requirements for Successful Investment.

5. Main Targets of the Islamic Chamber of Commerce & Industry's Ten-Year work plan 1 Restoring the ethical values in commercial transactions. Deepening the spirit of solidarity among Muslim to serve the socio-economic development goals. 2 Increasing the volume of inter-investments among all OIC member countries.. 3 Promoting the agricultural and industrial production as well as handicrafts within all Islamic countries. 4 Increasing the volume of trade exchange between OIC's member countries . 5 6 Developing the volume of labors exchange . Endeavoring to overcome difficulties that might encounter the promotion of a service exchange between Islamic countries and increasing its exchange between the said countries . 7

6. ICCI’S Implementation Mechanisms Establishment of Kwader for human development company with the aim of training & employment of skilled labors. A Establishment of Business Owners Union in the OIC member countries and the Muslim minorities as well . The main objectives of BOU is as follows :- B Establishment of Business Owners Union in the OIC member countries and the Muslim minorities as well . To facilitate the movement of its members throughout the OIC's member countries . Preparing an agreement to facilitate obtaining Entry Visa for BOU's member, based on a resolution issued by Islamic conference of the Foreign Ministers held in Baku, 19-21, June 2006 which called for approval of "the Open Entry-Visa for the movement of Business Owners between OIC's members countries.

7. ICCI’S Implementation Mechanisms Establishment Foras Tourism Co., with an authorized capital of USD 4m, based in Jeddah, KSA, to foster inter.. countries tourism. C ICCI adopted the establishment of proposed MEGA Islamic Bank, and participated in the process of its establishment. The authorized capital of MIB is USD 10b. MIB's objectives to finance major infra-structure projects, Governmental Projects, Issuance & Trading of Islamic securities and Sukuk, establishing Islamic Capital market and inter0banks markets. D Establishment of Foras International investment Co.: E Its objectives to Promote investment & trade Exchange It stands for exploring investment opportunities, Via conducting feasibility studies . Its authorized Capital is $US 120 m. Founding members are:- IDB. ICCI. & Investors from Gulf Countries Its 1st phase start with investment projects with capitals of $US 2.3 b

8. ICCI’S Implementation Mechanisms Establishing free zone commercial areas between OIC's member countries. Foras international Investment Co., has embarked a free zone commercial area in Benin to serve the trade exchange between Benin and neighbor countries F Striving to overcome difficulties that might encounter the commodities & trade exchange among OIC member countries and uplifting the customs barriers between OIC's member countries. G Ships owner Federation one of OIC affiliated organs and facilitate trade exchange between OIC member countries, its aim is to foster economic relations between OIC member countries H

9. Foras Proposed Projects In West African Countries, (Senegal, Mali, Benin, Mauritania) Foras: Objectives is promoting investment and, trade , as well as achieving sustainable economic development Its authorized capital is USD 120 m The founding members are IDB, ICCI, and major players from gulf countries. Projects located in Republic of Mali Rice Project: The project is size in 700 acre, its capital is USD 100 m. project tenure is 7 years. The Residential Complex Project capital: USD 900 m. to construct economical apartments for limited income groups. The targeted number is 100000 apartments equipped with all necessary facilities.

10. Foras Proposed Projects In West African Countries, (Senegal, Mali, Benin, Mauritania) Projects located in Republic of Senegal: West Africa poultry project: Project capital USD 30 m, the aim is to construct a modern automated comprehensive slaughter house. Expected to supply the Senegalese market with chicken and eggs. The commercial production is expected to start on the third quarter of 2011 INSHALLA

11. Foras Proposed Projects In West African Countries, (Senegal, Mali, Benin, Mauritania) Dakar Residential Complex: The aim of the project is to provide 33 thousands of apartments for the limited income groups. The project is under feasibility study The Rice Project :location of the project is on the Senegal's river bank. The project aim is to provide rice supply. The project area is about 700.000 acre. The project capital is USD 200 m. the project is under the study . Africa Business center: The center is composed of furnished offices, business units . The total area about 19496m. the project's capital USD 110m The projects is under study .

12. Foras Proposed Projects In West African Countries, (Senegal, Mali, Benin, Mauritania) & Sudan Projects located in Mauritania : The Rice Project: The location of the project is on Senegal river bank. Area of the project is 700000 acre. The projects capital is USD 100m. The project tenure is 7 years. The Residential Complex The aim of the project is to provide apartments with reasonable price to serve the limited income groups.

13. Foras Proposed Projects In West African Countries, (Senegal, Mali, Benin, Mauritania) & Sudan . Projects located in Sudan: Al Fayha agricultural project This project is considered as a major comprehensive project composed of two parts: Crops production Animal's production The project capital is USD 50 m. The area of the projects is 300,000 acres The project will be financed by multiple investors. Foras co., owned 50% of its capital . Project is under study . Proposed Poultry Project :The project is located at River Nile province. The project is under study.

14. General Conditions & Requirements for Successful Investment. political stability, of African Countries which suffered unrest, the civil wars, disputes and political unrest, is a negative aspect for investment activities. Social Security and peace is considered as an attractive factor for investment and investors, The importance of provision, of data base about the potential investment opportunities, is crucial and attractive factor for a fruitful investment projects it is preferable that every country should have and investment plan, unfortunately this plan is not available in most of the African countries including West Africa.

15. General Conditions & Requirements for Successful Investment. Combating administrative corruption in all levels of employees, at the governmental and administrative units, and police authorities . Because corruption is a real threat to investment and investors as well from the effective mechanisms that combat corruption is the concept of transparency. And applying the rules and laws that check corruption.