Former Central Bank Governor, Muhammadu Sanusi, has called on the Federal Government to tap into the over US$2.7 trillion Islamic Finance market by leveraging cheap available funds to finance infrastructure.
Sanusi made this call in Abuja at the fifth African International Conference on Islamic Finance with the theme: “Infrastructure financing, sustainability, and the future of African markets 2.0.’’
Also, former minister of finance and Vice President, Country Operations, Islamic Development Bank (IsDB), Dr Mansur Muhtar, said the IsDB will soon release $150 million for the development of Special Agro-Processing Zones in Nigeria.
He urged the CBN to continue with its initiative of developing non-interest liquidity management instruments, especially short-term papers for non-interest banks, adding that without these, the possibility of creating a non-interest inter-bank market is slim, could affect negatively the institutions.
2021-11-11