The Halal Times
Global Halal, Islamic Finance News At Your Fingertips
In 2016, the Africa Finance Corporation (AFC), a pan-African multilateral lender based in Nigeria, sought to raise financing at competitive pricing levels in a bid to help it fund a number of new infrastructure projects in Africa. It also aimed to diversify its investor base in the process. This objective was achieved through the successful …
Professor Binta Tijani Jibril is the Director of International Institute of Islamic Banking and Finance, Bayero University, Kano State. The head of the lone university-based Islamic banking institute in West Africa told CHIJIOKE NELSON in this interview that the model is business, ethical, not religion and about sweeping global economies with its appealing concepts. Why …
The Islamic Insurance division of Cornerstone Insurance Plc, Halal Takaful Nigeria has distributed surplus bonus to its customers in appreciation of their patronage and loyalty for the year 2015. Justifying the act, Group head of the Islamic Insurance Window of Cornerstone, Hajia Thaibat Adeniran said the decision was to allow customers who have no claim …
THE Lagos State government has commended the Institute of Islamic Finance Professionals (IIFP) for coming up with an initiative to lessen the financial burden of Muslim scholars. The Commissioner for Home Affairs, Dr Abdul-Hakeem Abdul-Lateef, gave the commendation during an IIFP workshop held at the Lagos Chamber of Commerce and Industry (LCCI), Alausa, Ikeja. At …
Nairobi: East Africa could be the new frontier for Islamic finance following the launch of the first East Africa Islamic finance summit in Nairobi. Financial experts drawn from the region noted that East Africa features a potentially strong demand for Islamic services and that its growing reach promises a number of benefits. The Islamic finance …
By Oludare Mayowa and Chijioke Ohuocha LAGOS Feb 18 (Reuters) – Nigeria has set up a government committee to advise on issuing the country’s first sovereign sukuk, the Securities and Exchange Commission (SEC) said on Thursday, citing the need to explore alternative funding sources. Africa’s biggest economy plans to borrow as much as $5 billion …
Lagos:- The Securities and Exchange Commission of Nigeria on Wednesday said the nation’s first sovereign “Sukuk” would be issued in May 2016, barring any unforeseen circumstances. Sukuk is an Islamic financial certificate. It is similar to a bond in Western finance. However, this complies with Sharia, the Islamic religious law. Mounir Gwarzo, the Director-General of …
Lagos:- The Securities and Exchange Commission (SEC) has reached an agreement with the Debt Management Office (DMO) to issue Nigeria’s maiden sovereign Sukuk. Sukuk is an Islamic financial certificate, similar to a bond in Western finance, that complies with Sharia, Islamic religious law. Under a Sukuk, the issuer sells an investor group the certificate, which …
Emir of Kano, Mallam Muhammadu Sanusi II has described Islamic Banking as the only panacea for the dwindling global economy as it will impact positively on many developing economies. Sanusi said Islamic banking was conceived to serve as a force of mediation in circumstances where the need for bridging the deficit of infrastructure was most …
In deepening Islamic finance in Nigeria, Securities and Exchange Commission (SEC), is organising a roundtable workshop on non-interest Capital Market in encouraging state governments to explore the alternative model for financing infrastructure projects through Islamic Capital market products such as Sukuk. The workshop with the theme, “Financing Development through Islamic Capital Market – a Viable …
The Securities and Exchange Commission and the City of London have pledged to work jointly to deepen Islamic finance in Nigeria in order to bring financial inclusion to Nigerian Muslims and non-Muslims averse to traditional financial system and products. The Lord Mayor of London, Mr. Alderman Yarrow, and the Director-General of Securities and Exchange Commission, …
The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has urged the management of Jaiz Bank Plc to intensify its public awareness and financial education campaign to showcase benefits of non-interest banking practice in the country. He said such enlightenment could improve the volume of patronage as well as stimulate overall economic …
ICD shall be the transaction advisor and global coordinator in the opening CFA about 75.0 billion Sukuk offering for the Government of Niger. ICD would help the Government of Niger in working harmoniously with the relevant advisors, financial consultants, agents and government authorities of Niger and the authoritative lead managers and supervising the Sukuk offering …
The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank Group and the African Development Bank (AfDB) are to jointly organize a workshop on the development of Islamic Banking in Africa to be held in Ilorin, Nigeria. The event, which is scheduled for January 6 – 8, 2015, is being organized in collaboration …
Nigeria – Lotus Halal ETF, a non-interest capital market product which tracks the NSE Lotus Islamic Index (NSE-LII) was launched back in August. The NSE-LII index tracks the performance of 15 Sharia-screened equities listed on the stock exchange. Some of companies comprised in the index include Cadbury Nigeria, Dangote Cement and Unilever. The fund was …
