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International Islamic Bank is expected to reach $ 4.94 trillion by 2025 with Nigeria leading the way.
The global Islamic financial industry will continue to grow, with total $ 4.94 trillion in global assets expected by 2025, with Nigeria expected to play a key role in its growth.
This was revealed in a report on Islamic Finance Development 2021, entitled "Advancing Economies."
The report revealed that $ 1.28 billion was spent on Corporate Social Responsibility (CSR).
In the lower index of CSR activities, the global rate of CSR disclosure remained low but other prominent countries, including Nigeria and the Maldives were ranked among the top five countries.
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the first half of 2021.
By 2020, 15 countries released Sukuk, with Nigeria and Egypt becoming notable marketers after their 2019 absence.
Major activities in the Nigerian Muslim banking area by 2021:
The Nigerian Securities and Exchange Commission (SEC) has approved the N30 Corporate Sukuk N30 Program to fund housing development.
In August 2021, Ahmadu Bello University in Zaria will begin undergraduate and postgraduate Islamic banking studies.
Lotus Bank was granted a non-profit banking license by the Central Bank of Nigeria (CBN) in June.
The Islamic Development Bank (IsDB) has approved $ 150.52 billion to support the Nigerian Agro-Industrial Processing Processing Center and $ 29.75 million for Phase Two Front-End Engineering Project.
Nigeria will release its fourth Sukuk in December 2021. N250 billion Sovereign Sukuk was N865 billion over-registered. This result means a 346% subscription rate.
The National Pensions Commission (PENCOM) has introduced an interest-free fund in line with Shariah VI.
Two Muslim financial webinars on the financial market and Takaful are hosted by Islamic Finance Weekly. Directors, operators, experts, and individuals from the SEC and NAICOM participated in the webinars.
