Islamic Finance Sector Can Catalyse Nigeria’s Economic Recovery and Development of the Financial Economy: NIFIAN

Given the current state of the global economy amidst the pandemic, the concepts of risk and return sharing in Islamic finance can boost business and economic revival, according to Hassan Usman, Managing Director of Jaiz Bank (Nigeria) and President of the Non-Interest Financial Institution Associations of Nigeria (NIFIAN).

Why it Matters?

Islamic finance in Nigeria is growing in double-digits and can serve as an accelerator or catalyst to the development of Nigeria’s financial economy. Mohammad Kabir Mohammad, Chief Strategy Officer of Jaiz Bank added that the value proposition suggested by the risk and return approach to non-interest finance and services, provides tailwinds for business and economic recovery. Citing an example, Aminu Tukur, Vice-Chairma...