Nigeria/IDB: Nigeria to Host IDB Business Forum

The Islamic Development Bank (IDB) Group, based in Jeddah, Saudi Arabia, will be hosting a two-day business forum under the title “IDB Group-Nigeria Business Forum” in cooperation with the Federal Ministry of Finance of Nigeria and the Nigerian National Investment Promotion Commission (NIPC).
The objective of the Business Forum, planned to be held during the period from 15-16 March 2012, at the Transcorp Hilton Hotel, Abuja, is to make the Nigerian public mre sensitive and underline the products and services being provided by the IDB Group, including eligibility criteria, modes of financing, terms and conditions of financing, procurement, and other operational matters.

Nigeria’s first Islamic bank begins business in three branches

aiz Bank Plc, has begun full operation of non-interest commercial banking in Nigeria from three branches in Abuja, Kaduna and Kano.
It seems that most of the early customers were groups of business institutions and private individuals from different religious persuasions making enquiries as well as opening different accounts.
The introduction of Islamic banking is part of a drive by the Central Bank of Nigeria, CBN, to force Nigeria’s economy and promote financial inclusion by presenting alternative products.

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