institute of Islamic Finance inducts 130 – IIFPN President

Over 130 persons have been inducted as members of the Institute of Islamic Finance Professionals of Nigeria (IIFPN). Acting President IIFPN, Dr. Tajudeen Olalekan, who disclosed this recently at the 2018 induction for members in Abuja, explained that the institute was lincensed and authorized to not only promote Islamic finance education, but also to train members and certify them as qualified Islamic finance experts.
He added that, “in the country today there are economic predicament that the government is trying to put an end to.
We at the institute of Islamic Finance Professionals are partners to the government, so we have recommended other alternatives to improve our economy to the government.
“Islamic Finance is an area of alternative finance, just like the recently launched 100 billion Naira worth of Sukuk to finance some infrastructural projects across the country.
Many of our packages, including the issuance of Islamic bond have to a large extent contributed to the growth of Nigeria economy.
Islamic finance focuses on the real growth, through the growth of the formal and informal sectors, he said.
He also noted that, “Many people could not use the conventional finance system, because of the interest attached to it.
But, businesses can strive through other means that will not entails interest, gambling and speculation with alternative finance, like Islamic finance.
In her remarks, the Dean Faculty of Social Sciences, National Open University of Nigeria (NOUN), Member IIFPN Governing Council, Dr. Ganiyat Adeshina Uthman said ” though Islamic Finance is moving at a slow pace, but it has come to stay as alternative to the western or conventional economic.

 

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