Nigeria's Islamic Societies can Support the Growth of Islamic Finance
With the growing interest in Islamic finance as an alternative source of supporting Nigeria's economic development, products like Sukuk have shown opportunities and prospects for driving Nigeria's economic transformation.
This edition of the Islamic Finance Weekly anchored by Bukola Akinyele- Yisau features Mr. Olaniyi Yusuf, President of the Nasrul-lahi-li Fathi Society of Nigeria (NASFAT). He speaks on the role of NASFAT in the growth of Islamic finance in the country.
He said, the society has over 360 locations in Nigeria for the marketing of Sukuk and partnering with financial institutions such as Lotus Capital, Jaiz Bank and Sterling Bank non-interest windows in order to talk to their members about the various products and the sale of the Shariah-compliant financial instruments.
Islamic finance commentators have noted the several ways other Islamic societies in Nigeria could support the non-interest finance market by working closely with one another, working with Islamic banks, regulators, capital market operators, and other stakeholders to enlighten their members on the opportunities in investing in Islamic financial products.