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IMFB partners Kano on Islamic banking
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The bank launched its Shariah compliant product division in Lagos Wednesday with many important dignitaries in attention including Abdul Lateef Adegbite, Secretary General of Supreme Council for Islamic Affairs, Ibrahim Shekarau, Kano State Governor, Doyin Abiola, chairman, IMFB and Ibrahim Suleiman of Centre for Islamic Studies, Ahmadu Bello University , Zaria and Baba Yunus Muhammed, member Shariah advisory board, IMFB.
The Interest- Free Public-Public Partnership Programme for Alleviation of Poverty (IFPPPPAP) has N5 billion back-up to create wealth at the grassroot levels.
Shekarau, said that IMFB was picked for the partnership programme as a result of its impressive track record and outstanding performance in micro-credit scheme in Lagos State.
It would be recalled that IMFB, as a result of its incredible performance in microfinance banking, was selected as a lead bank by the Lagos State government to manage its micro-credit funds meant for poverty alleviation in the state.
Declaring the event open, Shekarau highlighted the various programmes embarked upon by his administration in the area of poverty alleviation and economic empowerment of the less privileged in the state.
These include substantial subsidy on fertilizer to local farmers, training programmes for unemployed
youth and payment of backlog of pensions arrears amounting to about N10 billion among others.
He expressed the readiness of Kano State Government to partner IMFB in poverty alleviation efforts in the state just as he praised the bank for pioneering the
initiative seeking to incorporate Sharia compliant products in the microfinance segment of the nation’s economy.
Explaining the rational for developing the programme, Simon Akinteye, IMFB’s managing director and chief executive officer, said the partnership was born out
of the bank’s determination to eradicate poverty in the country adding that more products of that nature are coming from the bank to create wealth among Nigerians. He emphasized that Shairah compliant products of the bank are not meant for the Muslims
alone but for those that believe in interest free loan scheme.
Doyin Abiola, chairman of the bank said IMFB was established to alleviate the burden of
poverty among greater percentage of Nigerians through the provision of economic empowerment products and services.
According to her, the bank is desirous of enhancing the quality of lives of Moslems in the country through provision of financial assistance and training especially, to the unemployed youths and less privileged in accordance with Islamic banking
practice.
While commending the Kano State Government for accepting to partner with IMFB in a bid to alleviate poverty among the less privileged ones in the state, the bank’s boss however, assured potential customers from the northern states of the country of IMFB’s quality products and services.
The Interest- Free Public-Public Partnership Programme for Alleviation of Poverty (IFPPPPAP) has N5 billion back-up to create wealth at the grassroot levels.
Shekarau, said that IMFB was picked for the partnership programme as a result of its impressive track record and outstanding performance in micro-credit scheme in Lagos State.
It would be recalled that IMFB, as a result of its incredible performance in microfinance banking, was selected as a lead bank by the Lagos State government to manage its micro-credit funds meant for poverty alleviation in the state.
Declaring the event open, Shekarau highlighted the various programmes embarked upon by his administration in the area of poverty alleviation and economic empowerment of the less privileged in the state.
These include substantial subsidy on fertilizer to local farmers, training programmes for unemployed
youth and payment of backlog of pensions arrears amounting to about N10 billion among others.
He expressed the readiness of Kano State Government to partner IMFB in poverty alleviation efforts in the state just as he praised the bank for pioneering the
initiative seeking to incorporate Sharia compliant products in the microfinance segment of the nation’s economy.
Explaining the rational for developing the programme, Simon Akinteye, IMFB’s managing director and chief executive officer, said the partnership was born out
of the bank’s determination to eradicate poverty in the country adding that more products of that nature are coming from the bank to create wealth among Nigerians. He emphasized that Shairah compliant products of the bank are not meant for the Muslims
alone but for those that believe in interest free loan scheme.
Doyin Abiola, chairman of the bank said IMFB was established to alleviate the burden of
poverty among greater percentage of Nigerians through the provision of economic empowerment products and services.
According to her, the bank is desirous of enhancing the quality of lives of Moslems in the country through provision of financial assistance and training especially, to the unemployed youths and less privileged in accordance with Islamic banking
practice.
While commending the Kano State Government for accepting to partner with IMFB in a bid to alleviate poverty among the less privileged ones in the state, the bank’s boss however, assured potential customers from the northern states of the country of IMFB’s quality products and services.
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