Islamic Finance: Nigeria is an Attractive Hub for Retail Sukuk to Thrive - Mustapha Ishaq-Akinlaso
Islamic Finance has a significant role to play in driving infrastructure development in a frontier market like Nigeria. Given the huge infrastructure investment gap, limited fiscal space and underdeveloped capital markets, enormous opportunities exist for Islamic infrastructure financing.
This edition of Islamic Finance Weekly Anchored by Bukola Akinyele features Mr Mustapha Ishaq-Akinlaso the Executive Director of Nobtrove Nigeria Limited and a CIAWM Doctoral Scholar, at INCEIF Kuala Lumpur Malaysia. The expert shared his perspective on "Islamic Finance, Infrastructure Development and Frontier Markets".
He believed the Central Bank of Nigeria intervention program for Non Interest Finance Institutions has been earmarked to provide Islamic financing and refinancing to MSMEs certainly strengthens the country Islamic finance ecosystem. According to him, the capital injection does cater to the financially excluded Nigerians who will not take the interest-bearing interventions.
He noted that the intervention will also encourage new companies to consider the non-interest option as it comes with an attractive value proposition. Islamic Finance has deep in the road sector. The expert in his presentation was also optimistic that Nigeria Has an Enabling Environment for Retail Sukuk to Thrive.