Nigeria’s need for framework for Islamic finance

Engr. Mansur Ahmed, Director General of the Infrastructure Concession Regulatory Commission, points out that critical imperatives for the successful issuance of Sukuk in Nigeria will include the right regulatory and taxation framework, transparent transaction structure, credit rating, marketing, risk and mitigation measures, appropriate technical capacity and guarantees.
On the other hand, Nigerian newspaper Vanguard reports the West African Institute for Financial and Economic Management (WAIFEM) as saying Nigeria stands to benefit from over $1.4 trillion worth of assets being controlled by Islamic banks all over the world if the nation adopts the banking model.

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