Central Bank of Nigeria (CBN), Debt Management Office (DMO) and the Infrastructure Concession Regulatory Commission (ICRC), are exploring ways to use Sukuk to build airports, railways and refneries.
Speaking at the National Conference on Islamic Banking and Finance in Nigeria, Wednesday, in Abuja, CBN Governor, Mallam Sanusi Lamido Sanusi, said that in view of the potentials of Sukuk to develop economies in building infrastructure, the CBN, in conjunction with other sister institutions like the Securities and Exchange Commission(SEC), ICRC, DMO, had assembled a technical team to explore the prospects of alternative modes of finance and set out the procedures for using the modes in the development of infrastructure.

He stated that the team had identified, in its report, potential projects that could be financed by sovereign and sub-sovereign Sukuk.
“These projects include upgrade, maintenance, repairs and new construction of roads and highways; upgrade, renovation and new construction of airports, rehabilitation of the rail line and the building of a new rail line and railway stations. Part funding for the construction of the planned three refineries and mass housing and light rail for some states in the federation” he said.
This, he said, was in addition to the role that Sukuk issuance served in deepening domestic capital markets.

Sanusi noted that only recently, the Osun State government successfully issued a sub-sovereign Sukuk worth N10 billion for building public schools and the issuance was oversubscribed.
“The issuance which was oversubscribed and had a full up-take by the originator, shows the buoyancy of our capital market and its need to take up new alternative instruments” he said.
To further underscore the importance of Islamic Sukuk, the governor hinted that the Prime Minister of United Kingdom, David Cameron, announced the plan to make London not just a capital for Islamic finance to the Western world, but one that would stand along side Dubai and Kuala Lumpur as one of the great capitals of Islamic finance, anywhere in the world.

“Last week, I was at the 9th World Islamic Economic Forum in London hosted by the UK Government and at that function, the Prime Minister, David Cameron, announced his government’s plan to make London not just a. capital for Islamic finance to the Western world, but one that would stand along side Dubai and Kuala Lumpur as one of the great capitals of Islamic finance, anywhere in the world.
The UK plans to do this through the issuance of an Islamic bond sukuk, worth 200 million GBP by the UK Government which it intends to do as early as next year. It also plans to create an islamic index on the London Stock Exchange for Shariah compliant securities to attract more islamic investors.

“The UK is embarking on this plan, despite the fact that it is a non-Islamic country which illustrates what we have been saying, that Islamic finance, though based on sharia, is a financial product with clear goals and it is accessible to all” he said.


http://www.tribune.com.ng/news2013/index.php/en/news/item/25722-fg-plans-use-of-islamic-bond-to-build-airports,-refineries.html

Ayekotoo: Central Bank of Nigeria (CBN), Debt Management Office (DMO) and the Infrastructure Concession Regulatory Commission (ICRC), are exploring ways to use Sukuk to build airports, railways and refneries.
Speaking at the National Conference on Islamic Banking and Finance in Nigeria, Wednesday, in Abuja, CBN Governor, Mallam Sanusi Lamido Sanusi, said that in view of the potentials of Sukuk to develop economies in building infrastructure, the CBN, in conjunction with other sister institutions like the Securities and Exchange Commission(SEC), ICRC, DMO, had assembled a technical team to explore the prospects of alternative modes of finance and set out the procedures for using the modes in the development of infrastructure.

Jonathan wants to islamise Nigeria

Sanusi noted that only recently, the Osun State government successfully issued a sub-sovereign Sukuk worth N10 billion for building public schools and the issuance was oversubscribed.
“The issuance which was oversubscribed and had a full up-take by the originator, shows the buoyancy of our capital market and its need to take up new alternative instruments” he said.

what an hypocrisy of the FG

Dear Muslims!

I'm always afraid of you guys, cos of boko, alquaeeda, al shabab, osama boys demons and the consistent massacre, plus infringement on human rights amongst you (sharia).

Kindly stop all these and help make the world a better place.

Yours sincerely.
Emmy-richie.

Ayekotoo: Central Bank of Nigeria (CBN), Debt Management Office (DMO) and the Infrastructure Concession Regulatory Commission (ICRC), are exploring ways to use Sukuk to build airports, railways and refneries.
Speaking at the National Conference on Islamic Banking and Finance in Nigeria, Wednesday, in Abuja, CBN Governor, Mallam Sanusi Lamido Sanusi, said that in view of the potentials of Sukuk to develop economies in building infrastructure, the CBN, in conjunction with other sister institutions like the Securities and Exchange Commission(SEC), ICRC, DMO, had assembled a technical team to explore the prospects of alternative modes of finance and set out the procedures for using the modes in the development of infrastructure.

He stated that the team had identified, in its report, potential projects that could be financed by sovereign and sub-sovereign Sukuk.
“These projects include upgrade, maintenance, repairs and new construction of roads and highways; upgrade, renovation and new construction of airports, rehabilitation of the rail line and the building of a new rail line and railway stations. Part funding for the construction of the planned three refineries and mass housing and light rail for some states in the federation” he said.
This, he said, was in addition to the role that Sukuk issuance served in deepening domestic capital markets.

Sanusi noted that only recently, the Osun State government successfully issued a sub-sovereign Sukuk worth N10 billion for building public schools and the issuance was oversubscribed.
“The issuance which was oversubscribed and had a full up-take by the originator, shows the buoyancy of our capital market and its need to take up new alternative instruments” he said.
To further underscore the importance of Islamic Sukuk, the governor hinted that the Prime Minister of United Kingdom, David Cameron, announced the plan to make London not just a capital for Islamic finance to the Western world, but one that would stand along side Dubai and Kuala Lumpur as one of the great capitals of Islamic finance, anywhere in the world.

“Last week, I was at the 9th World Islamic Economic Forum in London hosted by the UK Government and at that function, the Prime Minister, David Cameron, announced his government’s plan to make London not just a. capital for Islamic finance to the Western world, but one that would stand along side Dubai and Kuala Lumpur as one of the great capitals of Islamic finance, anywhere in the world.
The UK plans to do this through the issuance of an Islamic bond sukuk, worth 200 million GBP by the UK Government which it intends to do as early as next year. It also plans to create an islamic index on the London Stock Exchange for Shariah compliant securities to attract more islamic investors.

“The UK is embarking on this plan, despite the fact that it is a non-Islamic country which illustrates what we have been saying, that Islamic finance, though based on sharia, is a financial product with clear goals and it is accessible to all” he said.


http://www.tribune.com.ng/news2013/index.php/en/news/item/25722-fg-plans-use-of-islamic-bond-to-build-airports,-refineries.html

aaaaaaaaaaah!



Goodluck AbdulRetardinho Jonathan wants to Islamise Nigeria

Yes, a true way forward nd pure halal. May Allah continue to be with Mallam sanusi lamido. l knw dt some religion bigot will disagree by hearing d word islam without even knowing anytin abt islamic banking nd their system jst like they are doing here in state of osun .

tha_originator: aaaaaaaaaaah!



Goodluck AbdulRetardinho Jonathan wants to Islamise Nigeria

It's b'cos of pple like u dt d world still remain in hostile condition, y cn't u reason, read well, luk @ d positive nd negative aspect of wat he said. U cn't, cos ua too blindfolded with too much hatred for other religion. Jst try to chance ur mindset @ least for once.

Hmmmm and our debt profile keeps rising while there's nothing to show for it...

Nigeria is a circular state and therefore, no sector of d economy was supposed to be islamised.

Islamic finance is here to stay, get over it. It has grown with assets in $billion.

The best you can do for yourself is to understand the concept of Islamic finance rather than the animosity towards this model.

Markets are becoming integrated through globalisation. Your sovereign wealth fund managers could possibly put some of the funds in Islamic finance assets to reduced risk through a diversified portfolio. What are you going to do about it, kill yourself?

Ok, just build the refineries first and explain how you got the money later.

Who will still blow up the same airport inter alia?

.

After visiting Jerusalem, what next?

Every attempt to islamise Nigeria will fail. Never should anyone ask SLS to be president. His opinions are just to one-sided.

Great step in right direction. even though some people ll still come here and say some silly things. Islamic Banking is pure and accesible to all..

if this is what will make the economy grow, so be it. one of the problem i have with this Jonathan administration is the tribal and religion divide we have. Ayo oritsejafor and co have greatly succeeded in creating a big divide in this country and if we must grow , we must learn to tolerate one another. Mathew hassan Kuka is a great and shining example an average Christian is to emulate. my problem with dis govt also is that they are always quick to borrow and the money ends up in pocket of a very few politician instead of using it for its purpose.

Ooooooh pls can some one explain all dis write up for me.

The level of ignorance in Nigeria is unbelievably alarming. And the realisation is disturbing. The Sukuk is becoming increasingly popular because its interest-free, and is guarded by strict ethics.

Mumudom!

emmy-richie:
Dear Muslims!

I'm always afraid of you guys, cos of boko, alquaeeda, al shabab, osama boys demons and the consistent massacre, plus infringement on human rights amongst you (sharia).

Kindly stop all these and help make the world a better place.

Yours sincerely.
Emmy-richie.

Why don't you start by shutting your sh*t hole and smoking Ganja, and watch the condition of the world take a quantum leap.

Dee60: After visiting Jerusalem, what next?

Every attempt to islamise Nigeria will fail. Never should anyone ask SLS to be president. His opinions are just to one-sided.

You have arabic on your money, have been ruled by more Muslims than christians, have the richest man in Nigeria as a Muslim, contribute to fund pilgrim of muslims to Saudi every year.. Whatelse is remaining for you to know that Nigeria is more Muslims that anything else..

Plus, If Nigeria being a Muslim Country is gonna make us better, wouldnt you accept it?

What is wrong with Jona sef?

Ignorant cretins have invaded this thread, as expected.

Their plans to Islamise Nigeria wont work

the Bible says my people perish because of lack of vision and I put lack of wisdom aswell,d likes of Qatar,Dubai n d rest build dere country with dis bond n dey are flourishing n many Christians rush dere to make money without any of dem banned from doing deir religion,so I see no reason y Nigeria shouldn't explore such opportunity,y xtrians sef no start Christianity banking?

I don't know why government always has to be linked with religion in nigeria.

Lemme stop there 'coz if i should type what i thought of writing i'll get a life-threatening ban.

Ayekotoo:
Jonathan wants to islamise Nigeria

is that the best your brain can do?

tha_originator: aaaaaaaaaaah!



Goodluck AbdulRetardinho Jonathan wants to Islamise Nigeria

I can clearly see that you are running mad!!!!Why can't u ask Sanusi what his agenda is...

And yet they accused Aregbesola the governor of Osun of Islamizing Osun for taking this same loan the federal government is taking now. Hypocrites....

Aregbesola keep showing them the way. bloody hypocites..

emmy-richie:
Dear Muslims!

I'm always afraid of you guys, cos of boko, alquaeeda, al shabab, osama boys demons and the consistent massacre, plus infringement on human rights amongst you (sharia).

Kindly stop all these and help make the world a better place.

Yours sincerely.
Emmy-richie.

Smh for u...u keep on becoming daft day by day...grow up some nuts in ur skul jawe