For September 26th to September 30th, 2022, there were some key developments in the Global, Regional and Nigerian Islamic Finance Markets.

Some of the key developments include: 

SEC Nigeria Proposes New Rules for Shariah Advisory Services

As part of its commitment to the development of an inclusive Capital Market in Nigeria, the Securities and Exchange Commission proposed new rules on Shariah Advisory Services for Non-Interest Capital Market Products and Services.

According to SEC Nigeria, the guideline is essential for developing this nascent sector, as it will promote transparency and confidence while creating a level playing field for all participants in the market.

ICIEC Wins 2022 Best Multilateral Insurance Corporation Brand

The Islamic Corporation for the Insurance of Investment and Export Credit, ICIEC, emerged as the winner of the 2022 ‘Best Global Multilateral Insurance Corporation Brand.’

ICIEC is a member of the Islamic Development Bank, providing commercial & political risk mitigation & credit enhancement solutions.

SEC Nigeria DG Meets NIFIAN Executive Members

The Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda, met with some of the executive members of the Non-Interest Finance Association of Nigeria, NIFIAN in Abuja.

It was an opportunity to explore different ways of deepening activities in the non-interest finance industry.

TAJ Bank Opens Bauchi Branch

Non-Interest Bank Taj announced the opening of its branch in the North-East State of Bauchi last week. This is part of the efforts to expand its operations across the country.

The new branch is located at 21, Ahmed Abdulkadir Road, Bauchi.