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The Halal Times - News On Global Halal, Islamic Findustries » Regions » Sub Saharan Africa » Nigeria

Nigeria

Islamic Finance Transaction Broadens Investor Base In Nigeria

May 21, 2017 by admin

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 …

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Islamic Finance Not Just For Muslims, But For Everyone

May 21, 2017 by admin

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 …

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Halal Takaful Nigeria Distributes Surplus Bonus To Customers

May 21, 2017 by admin

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 …

Read moreHalal Takaful Nigeria Distributes Surplus Bonus To Customers

Islamic Finance Professionals Train Imams, Others In Nigeria

May 8, 2017 by admin

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 …

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East Africa Braces For Islamic Finance

Feb 29, 2016 by admin

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 …

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Nigeria First Sukuk Debut

Nigeria Sets Up Committee To Advise On First Sovereign Sukuk

Feb 19, 2016 by admin

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 …

Read moreNigeria Sets Up Committee To Advise On First Sovereign Sukuk

SEC/DMO To Issue Nigeria’s First Sovereign Sukuk In May

Jan 28, 2016 by admin

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 …

Read moreSEC/DMO To Issue Nigeria’s First Sovereign Sukuk In May

Nigeria To Issue Maiden Islamic Financial Bond, ‘Sukuk’

Jan 22, 2016 by admin

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 …

Read moreNigeria To Issue Maiden Islamic Financial Bond, ‘Sukuk’

Islamic Banking: Panacea for dwindling Global Economy- Emir of Kano

Oct 20, 2015 by admin

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 …

Read moreIslamic Banking: Panacea for dwindling Global Economy- Emir of Kano

SEC Wants State Govts To Explore Islamic Financing

Oct 15, 2015 by admin

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 …

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London, SEC Pledge To Deepen Islamic Finance In Nigeria

Oct 10, 2015 by admin

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, …

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NDIC Seeks Greater Awareness On Benefits Of Non-Interest Banking

Oct 3, 2015 by admin

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 …

Read moreNDIC Seeks Greater Awareness On Benefits Of Non-Interest Banking
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