Economic expert tasks FG to seek cheaper way to finance budget | The Guardian Nigeria News - Nigeria and World News

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 94%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

“I am very worried about the debt of the country, I am not only a student of Islamic banking and finance, but also I am a student of economics.” Nigeria 2019Budget

Nigeria’s consistent reliance on interest based loans; especially from the international market is one of the major reasons for the poor state of the country’s economy.

The programme was organised by Al-Hayat Relief Foundation to train over 150 entrepreneurs from Kwara State and other Southwest States of Ogun, Oyo, Ondo, Osun and Lagos on ways they can benefit from Islamic financing to develop their businesses. A sukuk is an Islamic financial certificate, similar to a bond in Western finance that complies with Islamic religious law commonly known as Sharia.

“What we are saying is that there are cheaper ways to access funds, cheaper, better and more effective. Just consider the Sukuk for example, federal government want to raise N100billion, they issued Sukuk of 100billion within one week, people have paid up and the government is building roads, or Hospitals or Schools and I am benefiting, everyone is benefiting in the project.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

and speaking of religion...😉 Proverbs 22:7 'The rich ruleth over the poor, and the borrower is servant to the lender.'

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines