Abeg, make we gist small about wetin just happen for Bank of Industry (BoI) o! Dem don secure green light from Central Bank of Nigeria (CBN) wey go allow dem start wetin dem dey call non-interest banking. E mean say dem go fit help businesses wey no wan use traditional loan wey dey chop interest. Na big move o!
This new window go help BoI mobilise money wey dey ethical, plus e go give better opportunity for micro, small and medium-sized enterprises (MSMEs) wey dey struggle to find financing. Olasupo Olusi, wey be the managing director of BoI, don talk say this na milestone wey go change the game for Nigeria’s industrial sector. E no lie, my people!
As we sabi, non-interest banking dey follow Islamic finance principles, meaning say no interest dey for the koko! Dem dey follow structures wey based on tangible assets, so as person dey use dem product, na only the risk and the assets go dey involved. Dis one no be small matter, abeg!
BoI dey plan to use dis non-interest window to finance assets and raw materials wey go go far for businesses wey dey produce food and other goods. Dem talk say e go make dem fit reach plenty people wey never fit access financial services before because of religious or ethical beliefs. Na wetin dem dey call ‘inclusive growth’.
Ogas for the bank don talk say this regulatory approval go help dem scale their operations and also bring new innovations wey go fit help our economy well well. Na so dem wan ensure say all parts of the economy dey get support, especially the small businesses wey dey create job for the youth.
So, e clear say as dis non-interest banking dey come, e go give people more options to access funds without wahala. Dem gatz dey focus on ethical financing now, as dem don see say the market dey hot! Everybody, including religious bodies dey interested as dem wan find better ways to use their money wey no go dey contrary to their beliefs.
Dis one na big opportunity for those wey don dey find way to participate in the formal economy but dey fear to use conventional banks. Now, dem go fit dey confident as dem get new options wey go align with their values. No be every day you go hear beta news like dis!
Dis initiative no be just for matter of finance alone; e dey align with BoI’s mandate to provide long-term support for industrial growth and development. No forget say, BoI don dey play crucial role for Nigeria economy since dem establish am in 1959. So, as dem dey move forward with this non-interest banking, dem dey build something wey go last for our future!
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