Islamic Finance: Why Nigeria Should Float a Commercialised Islamic Intellectual Property
Intellectual property right refers to the legal protection, that is given to intellectual products through the law depending on the nature of its production. An instance is a Book/Inscription on a paper as evidence of creative writing, and this will determine IP rights as Copyright, Trademark, Industrial Design, Trade Secrets, and Patent.
This means they can be recognized as properties that can be possessed and owned, while its owner can do with it what any other property owner can do with his/her property such as sales, transfer, gift, endowment, inheritance.
On the other hand, Islamic Intellectual Property can be described as any product of the mind and creativity, which Islamic Law (Shari'ah) would accord protection through conferment of enforceable rights on them.
This edition of the Islamic Finance Weekly anchored by Bukola Akinyele-Yisau focuses on "Islamic Intellectual Property: Opportunities for the Nigeria" with Dr. Abdullahi Ishola, Lecturer, Department of Islamic Law, Kwara State University, Malete. He was of the view that Nigeria should explore floating a commercialized Islamic IP, such as Halal Certification and standard Islamic Finance Research Institutes.