Sukuk Remains the Best Instrument for Nigeria’s Infrastructure Development Sukuk has become one of the most viable Islamic finance funding mechanisms utilized in recent years and is a significant infrastructure development financing tool, for emerging markets, and developed economies, a catalyst for financial inclusion and income diversification. It focuses on long-term infrastructure projects, human capital […]

Understanding Bay al-Sarf (Sale of Currency) Bay al-sarf is a sale of money-for-money such as the sale of gold-for-gold or silver-for-silver. Maliki scholars consider money exchange only if the sale is gold-for-gold or silver-for-silver, not if the sale is gold-for-silver or silver-for-gold. Component of Bay al-Sarf The seller and the buyer The offer (ijab) and […]

Nigerian Non-Interest Finance Market Valued at $2.9bn For over a decade, the non-interest finance industry in Nigeria has grown from strength supported by a good demand for increased awareness, capacity building, and regulatory support.       According to Fitch Ratings’ recent report, the size of the Nigerian Islamic finance industry is estimated at USD2.9 billion at […]

Continued assurance of standard Islamic education in its non-secular environment is the fervent expedition of the Lekki Muslim Ummah [LEMU]. Over the years, it has strived not only to uphold the subsistence of standard Islamic education but also to bridge the gap between Islamic education and western education in a well-absorbing curriculum in its established […]

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