Posts tagged as: Nigeria

MICROFINANCE EVENT: International Islamic Microfinance Seminar, July 1-2, 2013, Abuja, Nigeria

MICROFINANCE EVENT: International Islamic Microfinance Seminar, July 1-2, 2013, Abuja, Nigeria

<p>The "International Islamic Microfinance Seminar" was held in Abuja, Nigeria on July 1-2, 2013. This event focused on Nigeria’s Islamic microfinance and banking industry including topics relating developing and facilitating business models; poverty alleviation; financial inclusion; accounting and auditing standards; the regulatory and supervisory framework; technology; and opportunities in agriculture, livestock, renewable energy, microenterprises and small and medium-sized enterprises. Green Oasis Associates Limited (GOAL), a Nigeria-based international consulting firm, organized the seminar.</p>
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<p><a href="http://www.microcapital.org/microfinance-event-international-islamic-microfinance-seminar-july-1-2-2013-abuja-nigeria/" title="http://www.microcapital.org/microfinance-event-international-islamic-microfinance-seminar-july-1-2-2013-abuja-nigeria/">http://www.microcapital.org/microfinance-event-international-islamic-mic…</a></p>
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Nigeria: NSE Screens Firms On Islamic Index

Nigeria: NSE Screens Firms On Islamic Index

The Nigerian Stock Exchange (NSE) has announced that an Islamic screening exercise has been carried out on the 15 companies in the NSE Lotus Islamic Index (NSE LII) and other Shari'ah compliant companies using the 2012 year-end financial statements. Th…

Osun Plans to Issue $10 Billion Sukuk Bond

Osun Plans to Issue $10 Billion Sukuk Bond

<p>Barring any unforeseen circumstance, Osun State will issue Nigeria's first Sukuk bond of N10 billion before the end of July. The planned 7-year paper would be part of a N60 billion debt raising programme of the state which started last year. The Osun bond will be issued through a book-building process which will earn a return for sukuk holders via a semi-annually paid rent structure called the Ijara. The government is targeting local pension funds and international investors on the bond. Local credit rating agency Agusto &amp; Co has assigned an A rating to the note, which will be listed on the Nigerian Stock Exchange. Osun is waiting for the Securities and Exchange Commission&rsquo;s (SEC&rsquo;s) approval to start marketing the bond. The funds will be used to finance the construction of education projects.</p>
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<p><a href="http://www.thisdaylive.com/articles/osun-plans-to-issue-10-billion-sukuk-bond/151656/" title="http://www.thisdaylive.com/articles/osun-plans-to-issue-10-billion-sukuk-bond/151656/">http://www.thisdaylive.com/articles/osun-plans-to-issue-10-billion-sukuk…</a></p>
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Islamic Finance Vital To Nigeria’s Infrastructure Devt – Sanusi

Islamic Finance Vital To Nigeria’s Infrastructure Devt – Sanusi

<p>Nigeria and other African countries need to tap into opportunities provided by Islamic financing to fund infrastructure development on the continent, Sanusi Lamido Sanusi, the governor of the Central Bank of Nigeria has said. He stated this yesterday in Abuja at a conference on &ldquo;Infrastructure Development through Alternative Funding (Islamic Finance) in Africa&rdquo;. He said Sukuk, if well developed, could serve as a financing option for governments as is already evident in countries like Saudi Arabia and United Arab Emirates. The acting managing director of Jaiz Bank, Usman Hassan, urged the federal government to conclude the development of the framework for the issuance of Sukuk in the country. This is necessary because with Sukuk you cannot have failed projects and funds cannot be diverted.</p>
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<p><a href="http://leadership.ng/news/260613/islamic-finance-vital-nigeria-s-infrastructure-devt-sanusi" title="http://leadership.ng/news/260613/islamic-finance-vital-nigeria-s-infrastructure-devt-sanusi">http://leadership.ng/news/260613/islamic-finance-vital-nigeria-s-infrast…</a></p>
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Nigeria: CBN Reviews Anti Laundering and Terrorism Regulation

Nigeria: CBN Reviews Anti Laundering and Terrorism Regulation

The Central Bank of Nigeria (CBN) has reviewed the Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regulation to align with international best practise as well as other anti laundering and terrorism acts of the country. The CBN…

Nigeria: NDIC Okays Jaiz Bank’s Deposit Liabilities

Nigeria: NDIC Okays Jaiz Bank’s Deposit Liabilities

The Nigeria Deposit Insurance Corporation (NDIC) said yesterday that it has assessed the deposit liabilities of Jaiz Bank Plc, and that in a couple of weeks, the bank will start paying premium as insurance cover for its depositors. NDIC Managing Direct…

Nigeria: Insurance regulator issues takaful guidelines

Nigeria: Insurance regulator issues takaful guidelines

The National Insurance Commission has released takaful guidelines which state that applicants seeking permits to conduct takaful transactions must own the certificate of registration as a fully-fledged takaful company. The guidelines also state that t…

Jaiz Bank Resumes Operations in Gombe

Jaiz Bank Resumes Operations in Gombe

Jaiz Bank Plc has commenced operations in Gombe State, is now located in four states in Nigeria. In the next four years, the bank plans to be in all the 36 states of the federation. Chairman of the Board of Directors of the Bank, Alhaji Umru Mutallab emphasized the bank’s desire to make positive contributions in the society as well as to provide access to innovative channels of financing as alternatives to interest-based systems. He assured that the bank was opened to all irrespective of race or religion.

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Nigeria: Banks To Appoint 30 Percent Women Board Members – Sanusi

Nigeria: Banks To Appoint 30 Percent Women Board Members – Sanusi

According to the Governor of the Central Bank, Mallam Sanusi Lamido Sanusi, banks in Nigeria will be required to appoint at least 30 per cent female board members and 40 per cent management staff by 2014. The decision was taken with a view to stimulati…

Hassan Usman Now Jaiz Bank Acting MD

Hassan Usman Now Jaiz Bank Acting MD

Jaiz Bank Plc has announced the appointment of the General Manager in charge of the Bank’s Business Development Group, Hassan Usman as the Acting Managing Director. Hassan is a trained Chartered Accountant and a seasoned Banker with international experience. The appointment follows the resignation of the Managing Director, Muhammed Mustapha Bintube after almost 10 years of service. Jaiz commenced operations on the January 6, 2012, in three locations, Abuja, Kano and Kaduna with additional branches opening soon in Maiduguri, Gombe and Katsina.

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