Suk it and see
With the issue of the world’s largest single tranche Sukuk, the industry’s attention is again on that fair-weather barometer the omnipotent Sukuk. Beside the Saudi issue, it’s been a busy week in the...
View ArticleIslamic banking in Africa
KFH Research made a report about the future of Islamic finance in Africa that shows that there are various promising opportunities for the growth and development of Islamic banking in Africa;...
View ArticleNigeria to Host Islamic Development Bank Group Business Forum
The Islamic Development Bank (IsDB) Group, based in Jeddah, Saudi Arabia, will host a two day business forum under the title "IsDB Group-Nigeria Business Forum" in cooperation with the Federal Ministry...
View ArticleNigeria/IDB: Nigeria to Host IDB Business Forum
The Islamic Development Bank (IDB) Group, based in Jeddah, Saudi Arabia, will be hosting a two-day business forum under the title “IDB Group-Nigeria Business Forum” in cooperation with the Federal...
View ArticleIslamic Bank to invest $98 million in bilingual-Quranic education in Nigeria
The Islamic Development Bank (IDB) revealed some plans to invest $98 million for the implementation of bilingual education in Nigeria. The funds will be used in supplying support for the integration of...
View ArticleS&P Indices Launches Shariah Index with the Organisation of Islamic Cooperation
S&P Indices made an anouncement that a new Index will be launched due to increase in the demand for a shariah-compliant benchmark in Islamic countries. The new S&P/OIC COMCEC 50 Shariah Index...
View ArticleStock Exchange Sharia equity index debuts today
Today is the start date of the new Islamic Equity Index. It debuts on the Nigerian Stock Exchange (NSE) and aims to contribute to the expansion of the Nigerian market. NSE's management has signed a...
View ArticleBenefits of non-interest banking, by Bintube
In a recent interactive session with journalists in Lagos, Mohammed Bintude, Manging Director and Chief Executive Officer of Jaiz International Bank, discussed the intoduction of Islamic banking in...
View ArticleIslamic Banking In Nigeria: Boost Or Spoof?
After the approval for “Sharia compliant” equities by Central Bank of Nigeria (CBN) last year, in 2012 an Islamic window opened on the trading floor at the Nigerian Stock Exchange (NSE). This is the...
View ArticleJaiz Bank to Acquire National Banking License
According to its Managing Director/Chief Executive - Mallam Mohammed Bintube - Jaiz Bank Plc is ready for the acquisition of a a national banking license in the following year. The required minimum...
View ArticleNigeria: We Will Spread Jaiz Bank Across Nigeria – Bintube
Alhaji Mohammed Mustapha Bintube, the Managing Director of Jaiz Bank Plc, stated that even though the bank started on a low key, it has been making steady progress in terms of number of accounts...
View ArticleNigeria: Minister Wants More Awareness On Islamic Banking
Nigaria's financial minister, Dr. Yerima Ngama, stated that it was necessary to assure greater sensitisation to create better awareness on Islamic banking option in the country. Thus, people would gain...
View ArticleJaiz offers roadmap for African expansion
It is a common opinion that Africa offers excellent opportunities for the global development and expansion of Islamic finance. The bank's managing director, Alhaji Mohammed Mustapha Bintube, explained...
View ArticleIslamic group donates equipments to LASUTH
On Monday Movement for Islamic Culture and Awareness donated a set of orthopedic surgical equipments to the department surgery, Lagos State University Teaching Hospital. The items are automatic, used...
View ArticleIDB joins call for polio eradication
IDB's president, Mohamed Ali, have urged for global solidarity in fight against polio. The bank is working on new financial package for the government of Pakistan that should help to finance polio...
View ArticleGambia Shares Experience With Nigeria On Islamic Financial Services
Gambia shares experience with Nigeria regarding the preparations to developing Islamic banking in Nigeria. It happens rarely that 'little brother' Gambia gives advices to 'big brother' Nigeria, but...
View ArticleNigeria: Sanusi – an Avant-Garde Central Banker
There have been some particularly noteworthy events during Sanusi's leadership at the Central Bank of Nigeria. First of all, he expressed his criticism of the 7-point agenda of late President Umaru...
View ArticleNon-Interest Banking In Nigeria: Tax Issues (I)
The initial storm regarding the introduction of Non-Interest Banking (NIB) is gradually settling down. Now it is important to start exhuming the challenges that might crop up in its operations....
View ArticleNigeria: Global Experts Meet to Expand Islamic Financing
A meeting of financial regulators, experts, jurists, academics and stakeholders from all around the world is coming up, aiming to brainstorm on how to strategically promote growth and realign the...
View ArticleNigerian Stock Exchange – Steps forward
The Nigerian Stock Exchange (NSE) has been a witness of several stimulating initiatives in 2012 which were designed to to encourage growth in capital market activities and give the market depth. An...
View ArticleEthica Institute of Islamic Finance Expands with Islamic Finance...
Since the collaboration between the Ethica Institute of Islamic Finance and Haifx Consult is working properly, professionals mow have local access to global Islamic finance certification at subsidized...
View ArticleNigeria: Islamic Banking – CBN Inaugurates Advisory Council
The Financial Regulation Advisory Council of Experts (FRACE) were inaugurated by the governor of Central Bank of Nigeria on January 10th in their headquarters. Governor Mallam Sanusi Lamido Sanusi...
View ArticleInsurance sector balances challenges and potential in Nigeria
Fola Daniel, head of the National Insurance Commission (NIC), said the Nigerian insurance market has the capacity to become the biggest in Africa and one of the largest globally. However, a recent...
View ArticleICIEC and NEXIM enter agreement to promote Nigeria’s exports
The Islamic Corporation for the Insurance of Investment and Export Credit has entered into an agreement with Nigerian Export-Import Bank for promoting Nigeria's exports. The ICIEC will provide credit...
View ArticleJaiz Bank Grows Share Capital to N11bn, Harps on Ethical Banking Services
Jaiz Bank Plc has said it increased its authorised share capital to about N11 billion from only about N5 billion in January 2012 when it commenced operation. The bank is currently financing critical...
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The exciting future of non-interest banking in Nigeria
Growth in the Muslim population throughout the emerging markets of Middle East and North Africa and Asia (MENA) is a key reason behind increasing demand for Islamic banking services. Especially...
View ArticleNigeria: Sanusi – China Is Major Contributor to Africa’s De-Industrialisation
The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has described China as a major contributor to the de-industrialisation as well as underdevelopment of Africa. He warned...
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Sustainable banking principles and financial system’s stability
The Central Bank of Nigeria (CBN) recently released the Nigerian Sustainable Banking Principles (NSBP) to promote sustainable way of doing business, especially in the banking industry. NSBP is...
View ArticleNigeria: Sanusi – Corruption, Insecurity Threaten GDP Growth
The increased level of corruption and insecurity in the northern part of the country as well as mixed signals from power and petroleum sector reforms were likely to affect Nigeria's output performance,...
View ArticleIgbos Lead in Consumption of Islamic Insurance Products
Insurance professionals have confirmed that, contrary to their expectation, consumers of takaful insurance, targeted at Muslims in the Northern part of the country, consist more of Christians from the...
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Hassan Usman Now Jaiz Bank Acting MD
Jaiz Bank Plc has announced the appointment of the General Manager in charge of the Bank’s Business Development Group, Hassan Usman as the Acting Managing Director. Hassan is a trained Chartered...
View ArticleNigeria: Banks To Appoint 30 Percent Women Board Members – Sanusi
According to the Governor of the Central Bank, Mallam Sanusi Lamido Sanusi, banks in Nigeria will be required to appoint at least 30 per cent female board members and 40 per cent management staff by...
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Jaiz Bank Resumes Operations in Gombe
Jaiz Bank Plc has commenced operations in Gombe State, is now located in four states in Nigeria. In the next four years, the bank plans to be in all the 36 states of the federation. Chairman of the...
View ArticleNigeria: Insurance regulator issues takaful guidelines
The National Insurance Commission has released takaful guidelines which state that applicants seeking permits to conduct takaful transactions must own the certificate of registration as a fully-fledged...
View ArticleNigeria: NDIC Okays Jaiz Bank’s Deposit Liabilities
The Nigeria Deposit Insurance Corporation (NDIC) said yesterday that it has assessed the deposit liabilities of Jaiz Bank Plc, and that in a couple of weeks, the bank will start paying premium as...
View ArticleNigeria: CBN Reviews Anti Laundering and Terrorism Regulation
The Central Bank of Nigeria (CBN) has reviewed the Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regulation to align with international best practise as well as other anti...
View ArticleIslamic Finance Vital To Nigeria’s Infrastructure Devt – Sanusi
<p>Nigeria and other African countries need to tap into opportunities provided by Islamic financing to fund infrastructure development on the continent, Sanusi Lamido Sanusi, the governor of the...
View ArticleOsun Plans to Issue $10 Billion Sukuk Bond
<p>Barring any unforeseen circumstance, Osun State will issue Nigeria's first Sukuk bond of N10 billion before the end of July. The planned 7-year paper would be part of a N60 billion debt...
View ArticleNigeria: NSE Screens Firms On Islamic Index
The Nigerian Stock Exchange (NSE) has announced that an Islamic screening exercise has been carried out on the 15 companies in the NSE Lotus Islamic Index (NSE LII) and other Shari'ah compliant...
View ArticleMICROFINANCE EVENT: International Islamic Microfinance Seminar, July 1-2,...
<p>The "International Islamic Microfinance Seminar" was held in Abuja, Nigeria on July 1-2, 2013. This event focused on Nigeria&rsquo;s Islamic microfinance and...
View ArticleJaiz Bank Increases Branches To 10
Nigerian Jaiz Bank has increased its branch network to ten, with the commissioning of its Katsina branch. The bank commenced operations with three branches in Abuja, Kaduna and Kano states on January...
View ArticleNigeria planning to raise a sukuk bond worth $62 million
<p>The Osun State government in southwestern Nigeria is planning to raise a sukuk bond worth 10 billion Nigerian nairas (some $62 million) from the capital market to fund infrastructural...
View ArticleJaiz Bank Donates Relief Materials To Boko Haram Victims
Jaiz Bank yesterday donated relief materials to the Governor of Borno State for onward distribution to victims of the Boko Haram insurgency. While presenting the items, Dr. Abdulmutallab expressed his...
View ArticleMICROCAPITAL BRIEF: Central Bank of Nigeria (CBN), Bill and Melinda Gates...
<p>The Central Bank of Nigeria (CBN) reportedly has partnered with the Bill and Melinda Gates Foundation (BMGF) to form a new initiative called “Geospatial Mapping of Financial...
View ArticlePower: FG seeks $450m from Islamic Development Bank
<p>The Federal Government of Nigeria has sought the support of the Islamic Development Bank for the provision of about $450m to expand the power transmission system to wheel up to 20,000...
View ArticleGroundwork laid for Nigeria's Islamic finance sector
Nigeria is gradually opening up to Islamic finance, a move that could develop one of Africa's fastest-growing consumer and corporate banking sectors and establish the country as the African hub for...
View ArticleJaiz Bank reiterates commitment to Ethical Banking Services
Nigerian Jaiz Bank PLC has reiterated a firm commitment to the provision of ethical banking services to its customers. The bank has unveiled its array of value adding products and services which it...
View ArticleIslamic Development Bank Group prepares an investment conference for Nigeria
<p>Dr. Mohammed Namadi Sambo, Vice President of the Federal Republic of Nigeria has received Dr. Ahmed Mohamed Ali, President of the IDB Group in Makkah Guest Palace. The discussion covered...
View ArticleJaiz Bank Commences Forex Transactions
Jaiz Bank Plc has joined other commercial banks in processing of foreign exchange transactions. This allows the bank to process forex transactions for eligible bureau de change (BDC) operators at the...
View ArticleJaiz Bank grows capital by 100% in a year, eyes national banking licence
Jaiz Bank is now targeting a national license from the Central Bank of Nigeria (CBN) after having grown its capital base from N5 billion when it started operations last year to about N10 billion. The...
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