Friday, April 01, 2022 / 11:00 AM / by Bukola Akinyele-Yisau for WebTV / Header Picture
Credit score
: Islamic Microfinance Information

The expansion of the
non-interest finance market in Nigeria
hinges on attaining scale in Islamic
finance educatio
n throughout the nation. Mr. Yusuf
Alajiki, Director, Nobleway Faculty, Lagos, made this level whereas offering his
view on “Bettering the Adoption of Non-Curiosity Finance Schooling in Nigeria”.

believed that bridging the manpower deficit within the moral finance market would
require important investments in Islamic finance schooling. The administrator
suggested the Nigerian Universities Fee (NUC) and governing our bodies of
establishments to combine the teachings of non-interest finance schooling into
the curriculum and prolong it to the secondary and first faculty degree.

advocated for elevated consciousness of the worth of Islamic banking, which
gives immense alternatives for deepening monetary inclusion. He known as for
collaboration between NUC and the Joint Admission Matriculation Board (JAMB)
that might see college students searching for admission into tertiary establishments, together with
Islamic finance, as a course.

added that adopting Islamic Finance research in tertiary establishments would
present the pipeline for human capital improvement for the Islamic Banking
trade in Nigeria. Based on him, “Increased establishments are usually not speculated to
be stagnant within the studying course of; we’re speculated to study in a approach college students
may have totally different expertise that can assist cut back unemployment in our

careworn the necessity to embody Islamic finance to attach with folks in rural
areas in monetary literacy. He additionally tasked schooling authorities to emphasise
e-learning as a part of the scope of research, which is able to increase Nigeria’s
competitiveness within the international neighborhood.

In its 2021 article,
Africa Enterprise acknowledged that “
Africa has big potential for progress in Islamic
banking as a result of giant Muslim populations, a low beginning base, and rising
authorities curiosity within the sector. For governments, sector enlargement would
diversify the funding sources of their economies and cut back financing
shortfalls exacerbated by the pandemic”.

Bello College, Zaria, and the College of Lagos are two tertiary
establishments in Nigeria which have adopted Islamic finance programs of their

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