Dr. Akinwunmi Adeshina, president of the African Development Bank, announced yesterday that three foreign financial institutions would mobilize funds for the Federal Government of Nigeria. They are the International Fund for Agricultural Development (IFAD), which will contribute $520 million to 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…
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…
With a Profit After Tax, or PAT, of N2.54 billion, Jaiz Bank Plc has released its unaudited results for the six months ended June 30, 2022. In a statement released on Sunday in Lagos, the firm stated this. When compared Read more…
Nigeria’s top Islamic (non-interest) bank, Jaiz Bank Plc, intends to issue a N150 billion Sukuk, a ground-breaking move that might transform the market for corporate non-interest bonds. The anticipated Sukuk will be the biggest issue of non-interest bearing bonds on 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…
Since inception, Jaiz Bank Plc has financed over 10,000 units of houses in the country, said the Executive Director, North, Dr Sirajo Salisu, while partnering with different developers, he added. Dr Sirajo noted this during the 5th African International Conference Read more…
