NON-INTEREST FINANCE

Ethical finance based on the core principles of fairness and social justice.

DID YOU KNOW

Non-interest finance works on a profit sharing basis, where profits derived from permissible transactions are shared amongst the depositors and the bank’s shareholders

Archived News

01 October 2015 Jaiz Bank gets national licence
By Isaac Anumihe (The Sun)

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CENTRAL Bank of Nigeria (CBN) has granted a na­tional licence to Jaiz Bank and a waiver on the reduc­tion of its liquidity ratio from 30 per cent to 10 per cent. The licence will enable Jaiz Bank operate in any part...

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29 September 2015 NDIC Charges Jaiz Bank On Benefits Of Non-Interest Banking
By Bamidele Ogunwusi (The Daily Independent)

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Nigeria Deposit Insurance Corporation (NDIC) has admonished the Management of Jaiz Bank Plc to embark on intensive public awareness and financial education on the benefits of non-interest banking practice in the country in order to improve the volume of patronage. Managing...

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10 June 2015 Non-Interest Jaiz Bank Declares 157m Naira Profit
By Channels Television

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Nigeria’s foremost non-interest financial institution, Jaiz Bank Plc, has declared a profit before tax of 157 million Naira for the year 2014. The achievement was disclosed on Wednesday by the Chairman of the Bank, Dr Umaru Abdul Muttalab, at the third...

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21 August 2014 The Lotus Halal Equity Exchange Traded Fund LHE ETF
By Lotus Capital

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The Lotus Halal Equity Exchange Traded Fund LHE ETF is an open-ended fund that is intended to track the performance of the NSE-Lotus Islamic Index (NSE-LII). It is designed to enable investors obtain market exposure to the securities of the...

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14 August 2014 ​​​​Exchange Builds Capacity of Market Participants​
By The Nigerian Stock Exchange

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In line with its mandate to broaden and deepen the Nigerian capital markets, The Nigerian Stock Exchange (NSE) in partnership with Exchange Traded Funds providers (Vetiva Fund Managers Limited, Lotus Capital Limited and ABSA Capital, South Africa) today, August 14,...

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08 August 2014 Expectation high as Lotus Halal traded fund lists on NSE
By Business Day

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Hajara Adeola, managing director, Lotus Capital Limited, in this interview with BusinessDay’s Hope Moses-Ashike, speaks on the benefits of the forthcoming listing of first Sharia Compliant Equity Exchange Traded Fund, the Lotus Halal Equity Exchange Traded Fund (LHEETF) on the...

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21 July 2014 Takaful Insurance Vs Conventional Insurance
By Ahmad U. Kollere

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From the onset Takaful insurance is like mutual insurance, the only difference is that there is investment condition and Shariah compliance in Takaful operation whereas there is none in mutual insurance. The whole idea of Takaful operation is borne out...

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18 July 2014 Takaful Insurance: Towards Deepening Insurance Penetration
By Ahmad U. Kollere

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The universal objective of financial inclusion is to facilitate the establishment and delivery of suitable and affordable financial services for the underserved or disadvantaged segments of all human population regardless of race or religion. Addressing the constraints for building inclusive financial...

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18 July 2014 Takaful Insurance And Quest For Financial Inclusion
By Ahmad U. Kollere

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The universal role of insurance as a key sector in the financial service system is increasingly becoming dominant and accepted even among segments of the society which hitherto believed that the practice of insurance is unethical and therefore unlawful. The followers...

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14 May 2014 Non-interest Banking Can Transform Nigeria’s Economy
By This Day

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Key sectors in the Nigerian economy such as manufacturing, agriculture and tourism have suffered over the years due to lack of access to finance. Head, Personal and Business Banking, West Africa, Standard Bank, Mr Lincoln Mali, spoke to Eromosele Abiodun...

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17 April 2014 Nigeria: Investigating Islamic Finance In Nigeria
By Rahman A. Oshodi

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Islamic finance refers to a profit and loss sharing economic policy based on Islamic commercial jurisprudence which promotes ethical and social responsibility and forbids: Interest (Riba); investment in activities characterised as "sinful" (Haram); speculation, betting and gambling (Maisir); and preventable...

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02 September 2013 Sterling Bank sensitises Nigerians to non-interest banking
By OYETUNJI ABIOYE

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Sterling Bank Plc has begun sensitising Nigerians, especially the Muslim community, to the need to embrace non-interest banking. A statement from the bank on Sunday quoted the Group Head, Non-Interest Banking, Mr. Basheer Oshodi, as saying that there was a need...

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11 April 2013 Stanbic IBTC Bank Launches Non-interest Banking Product
By FinIntell

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Initiatives aimed at enhancing financial inclusion in Nigeria have received a major boost as Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, introduced a non-interest product into the market – the Imaan Current Account. Launching the Imaan Current Account,...

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09 October 2011 Nigeria: Encouraging Business Growth Through Non-Interest Banking
By GLORIA EZEIRU

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As controversies continue to trail the implementation of non-interest banking model in the country, Gloria Ezeiru, in this piece evaluates possible areas where the model would promote business growth and infrastructural development in the country. The Central Bank of Nigeria (CBN)...

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