Jaiz Bank Plc, is a bank in Nigeria operating under Islamic banking principles and is a non-interest bank. The first ever in Nigeria. Reports state that Jaiz Bank is the only financial institution offering the new naira notes without discrimination. Read more…
The board of executive directors of the Islamic Development Bank (IsDB), which has its headquarters in Saudi Arabia, approved $1.12 billion in financing for development projects across nine of its member countries as well as a $1.79 million grant for Read more…
In line with rising halal product demand from Muslim and non-Muslim countries, a recent study found that the halal economy is on the rise. The worldwide halal economy industry is predicted to grow from $2.30 trillion in 2020 to $4.96 Read more…
With the signature of an agreement between all parties for the issuing of the first-ever non-interest private Sukuk bond offer in the country’s capital market, TAJBank Limited, Nigeria’s top non-interest bank, formally started the bank’s N100 billion Sukuk bond issuance. Read more…
Just one day after Qatar pledged to invest $3 billion in the South Asian nation, Riyadh reports that King Salman bin Abdulaziz has issued investment directives to boost Pakistan’s economy. In order to aid Pakistan in overcoming its current economic Read more…
On Monday, the Nigerian Vice President, Professor Yemi Osinbajo inaugurated 10 Governors, including Governor Babagana Zulum and some Federal officials as members of the National Blue Economy Project Committee. Others committee members are Governors of Rivers, Lagos, Delta, Akwa Ibom, Read more…
Islamic Banking was born in the early twentieth century. The foundation for what would become modern Islamic Banking began with trade activities conducted in Mecca and Medina. Some of these activities continued even after Islam became rooted in Mecca. Islamic Read more…
The Federal Government of Nigeria earned N1.77 trillion from sukuk bonds over a four-year period (2017-2021). In Islamic finance, the sukuk bonds are sharia-compliant bond-like instruments. Throughout Nigeria sukuk bonds were issued to fund a total of 97 road projects Read more…
Globally, Sharia-compliant, fixed-income capital markets instruments are proving an increasingly attractive investment, thus Islamic finance system is providing solutions to infrastructure deficit in Nigeria. Nigerian Debt Management Office (DMO) has said, the N250 Billion Sovereign Sukuk whose offer opened on Read more…
