Islamic Finance Institute inducts 188, targets N20m trust fund

By Miftaudeen Raji, Lagos

The Institute of Islamic Finance Professional (IIFP), on Saturday inducted no fewer than 188 Islamic finance professionals members of the institute.

The chairman of the institute, Dr. Tajudeen Yusuf administered the oath of induction on the inductees at the institute 2017 Annual Stakeholders Forum/Membership Induction which held at the Nigerian Institute of Medical Research auditorium, Yaba, Lagos.

He stated that six of the inductees were awarded for outstanding performance across all levels.

While taking the oath of induction, Dr. Yusuf said, “I will be glad to induct Islamic finance professionals in the year 2018, Saturday November 17th.”

Meanwhile, the institute has expressed its readiness to raise a sum of N20 million to support students in the research and studies of postgraduate degrees in Islamic finance in Nigeria.

Dr. Yusuf stated this while delivering a speech at the ceremony.

He disclosed that Prof. Kola would serve as the chairman of the fund which he tagged as Benevolent and Education Trust Fund.

Dr. Yusuf said, “He (Prof. Kola) will lead the team of interested persons towards the accomplishment of this noble task.”

He added that the trust fund would fast-track the production of postgraduates and scholars that will conduct researches to proffer sustainable solutions on how to deepen Islamic finance in Nigeria and Africa.

Speaking on the collaborations embarked upon by the institute, he said IIFP had secured relationship with leading Islamic financial institutions globally.

He said, “The Institute of Islamic Banking and Insurance, United Kingdom (an IIFP fellow will be admitted unto fellow of IIBI, UK.) ; the Islamic Sharia Research Academy (ISRA) and just last week submitted application as examination center for Accounting and Auditing Organisation for Islamic Finance Institutions (AAOIFI) in West Africa.”

He added that two universities – National Open University (NOUN) and Crescent University, Abeokuta –  have accepted a working relationship with the institute.

Meanwhile, Lagos State Commissioner for Home Affairs, Dr. Abdul Hakeem Abdul Lateef was inducted as a fellow of the institute. BarometerNG Content Strategist, Ibrahim Ola Balogun was inducted as an Associate of the Institute.

The forum, however, addressed the theme: Ethical Finance for Nigeria: Development prospects and Inclusive Growth.

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