Naija finance market dey buzz as some big heads don yarn about Sukuk matter!
For Abuja, CFG Africa gather plenty people wey sabi non-interest finance for di CFG Africa Non-Interest Investment Forum. Dem talk say dem wan see more and bigger Sukuk issuances, plus more frequent ones, to help grow di market and make investor dey shine.
Babajide Lawani, di CEO of CFG Africa, talk say di group don sabi wetin dem dey do and dem want align wetin dem dey offer with wetin people wey get faith dey look for. Dem no wan dey follow wetin other markets dey do. Instead, dem dey find better ways to bring fresh products to di table.
Dis non-interest finance na chance for Naija to gather new money wey go boost di economy. Plenty people dey avoid normal interest-bearing investments because of di wahala with faith beliefs. Lawani talk say if dem fit put dis space better, e go allow many people invest without stress.
Dr. Basheer Oshodi, CEO of TrustArthur, also speak his mind. E talk say as global economy dey shake, investors dey reason asset-backed instruments like Sukuk more. E explain say gold don rise well, and plenty people dey find new places to put their money.
Oshodi also make we sabi say Nigeria dey perform well. Di last 10-year Ijarah Sukuk wey dem issue shine as dem oversubscribe am by 735 percent, showing say people serious for di market. But e clear say once-a-year Sukuk no go do again. E advise make dem dey issue at least quarterly.
E dey obvious say if dem fit dey issue Sukuk plenty times, e go ease liquidity matter and help funding for infrastructure. E also dem talk about how gaps dey for Naija non-interest market. Three digital microfinance banks don get bigger assets pass di whole non-interest banking market together!
Dr. Ameenah Adebayo-Shittu, from Lotus Bank, clarify wetin be di difference between ethical finance and Shariah-compliant investments. E confirm say all Shariah-compliant investments are ethical, but no be all ethical investments be Shariah-compliant. Dis one na wetin wey dey important for investors wey get faith beliefs.
Adebayo-Shittu also talk say non-interest finance fit help Naija grow economy without wahala. Dis na because dem dey focus on asset-backed financing, wey dey tie funds to real activities, no more cash trade for ghost businesses.
Akindele Ogundepo, from CFG Africa Trustees, dey happy say dem don launch CFG Ethical Fund wey go help investors fit get better options in di non-interest space. Dis fund dey combine federal and state government Sukuk plus other ethical stocks, all for one package.
After all di gist, di speakers agree say for Naija to grow dis Sukuk market, dem need to dey push bigger issuances, blend am with tech, and focus on MSMEs. Dis go unlock plenty long-term capital and make non-interest finance be serious player for di economy.
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