Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Financial Services

Global Islamic banking expected to hit $4.94 trillion by 2025 with Nigeria on the forefront

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
January 3, 2022
in Financial Services
Global Islamic banking expected to hit $4.94 trillion by 2025 with Nigeria on the forefront
Share on FacebookShare on TwitterShare on Linkedin

The global Islamic finance industry will continue to grow, with a total global asset value of $4.94 trillion expected by 2025, with Nigeria expected to play a major part in its growth.

This was disclosed in the Islamic Finance Development report 2021, themed “Advancing Economies.”

The report stated that $1.28 billion was spent on Corporate Social Responsibility (CSR).

RelatedPosts

NAICOM revokes operational licenses of Niger Insurance, Standard Alliance Insurance

Leadway Pensure projects to sustain double-digit returns on Funds by 2022 year-end

Read: Nigeria’s N250 billion Sukuk Bond oversubscribed by 346%

On the CSR Activities sub-indicator, the global average for CSR disclosure remained low but some countries stood out, including Nigeria and the Maldives that are ranked among the top five.

According to the report, oversubscription rates for sovereign Sukuk indicate continued strong demand, which sovereigns are meeting with several jumbo issuances in 2020 and more recently in
the first half of 2021.

Read: FG receives N185m from Islamic Bank to support textile, agric sectors

In 2020, 15 countries issued Sukuk, with Nigeria and Egypt being notable returnees to the market after their absence in 2019.

Major activities in the Nigerian Islamic banking space in 2021:

  • The Nigerian Securities and Exchange Commission (SEC) approved a N30 billion Corporate Sukuk Program to fund housing development.
  • In August 2021, Ahmadu Bello University in Zaria will begin undergraduate and postgraduate Islamic banking courses.
  • Lotus Bank was granted a non-interest banking license by the Central Bank of Nigeria (CBN) in June.
  • The Islamic Development Bank (IsDB) approved $150.52 million in support for Nigeria’s Special Agro-Industrial Processing Zone and $29.75 million for Phase II of the Front-End Engineering Design.
  • Nigeria will issue its fourth Sukuk in December 2021. The N250 billion Sovereign Sukuk was N865 billion oversubscribed. This result implies a 346 per cent subscription rate.
  • The National Pension Commission (PENCOM) introduced the Shariah-compliant non-interest fund VI.
  • Two Islamic finance webinars on the capital market and Takaful were held by Islamic Finance Weekly. Regulators, operators, specialists, and individuals from the SEC and NAICOM participated in the webinars.

Related

Tags: Global islamic bankingIslamic banking

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Sky Mavis opens Ronin bridge after $625 million hack
    • Mokutima Ajileye: Making waves and smashing goals
    • WizKid, Tems BET Award winning “Essence” raking in over $1 million+ in estimated streaming revenues

    Follow us on social media:

    Recent News

    DeFi exploit: Hackers steal $611 million from Poly Network

    Sky Mavis opens Ronin bridge after $625 million hack

    June 29, 2022
    Mokutima Ajileye: Making waves and smashing goals

    Mokutima Ajileye: Making waves and smashing goals

    June 29, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com