Mutallab recommends Sukuk to offset non-interest liquidity

Chairman, Jaiz Bank International Plc, Alhaji Umaru Abdul Mutallab.  

Chairman, Jaiz Bank International Plc, Alhaji Umaru Abdul Mutallab.  

Chairman of Jaiz Bank Plc, Alh. Umaru Muthalab has said that Nigeria could tackle its infrastructure and developmental deficit using funds from non-Interest financial bond (Sukuk).

Muthalab spoke, yesterday, at Bayero University Kano, shortly, after the International Institute of Islamic Banking and Finance honoured him with a meritorious Islamic Banking and Finance Leadership Award, for pioneering non-interest banking in Nigeria.  

The renowned business man and banker said the Central Bank of Nigeria (CBN) could deploy the Islamic financial instrument on non-Interest liquidity accrued by Islamic Banks and others financial institutions with non-interest window to develop infrastructure facilities in the country.

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1 Comment
  • Nwaizu Ikechukwu Bruno

    What are the other clauses of the Sukuk. If non religious inclined and does not compromise the secular state of Nigeria, it should be looked into.

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