IFN Daily Update: CBN Launches New Non-Interest Finance Schemes for Its Intervention Programmes
One of the opportunities the Non-Interest Finance market brings to emerging economies like Nigeria is the ability to catalyze socio-economic development and for the nation amidst the challenging COVID-19 Pandemic.
This edition of Islamic Finance Daily Update anchored by Bukola Akinyele captures the latest report that the Central Bank of Nigeria has launched new non-interest finance guidelines for Islamic Financial Institutions and its intervention programmes in the country.
The schemes include Non-interest Guidelines for the Accelerated Development Scheme, Non-interest Guidelines for Intervention in the Textile Sector; Guidelines for the Operations of the Agri-Business, Small and Medium Enterprise Investment Scheme, Guidelines for MSME Development Fund for non interest financial institutions, Non-interest Guidelines for Non-oil Export Stimulation Facility; Non-interest Guidelines for Anchor Borrowers Programme and Non-interest Guidelines for Real Sector Support Facility Revised Guidelines.
Others are Non-interest Guidelines for the operation of the Credit Support for the Healthcare Sector; Modalities for the implementation of the Creative Industry Financing Initiative (Non-interest version); Non-interest Guidelines for the implementation of the N50 billion Targeted Credit Facility.
It also brings to viewers the story on a US based Sharia Compliant App that was launched recently.