Simplifying Non-Interest Finance and the Benefits for Nigerians
Islamic Finance which is also known as "Non-Interest Finance" or "Ethical Finance" has been misunderstood by millions of Nigerians and people across the globe.
This brings to the fore the need for increased awareness and understanding of its tenets, values, principles and the benefits to the populace. Unlike conventional finance, the Islamic Financial System is asset-backed and does not allow the creation of debt through lending and borrowing.
The debt cannot be sold thus the risk associated with it must be borne by the lender himself.
This edition of the Islamic Finance Weekly anchored by Bukola Akinyele-Yisau features Mrs. Shaista Mukadam, Senior Lecturer, Birmingham City University, as she discusses "Simplifying Non-Interest Finance and the Benefits for Nigeria".