Get Guardian on GoogleNon-Interest Finance Association of Nigeria (NIFAN), an umbrella association of all non-interest financial institutions in the country, has begun initiatives to overcome liquidity management challenges affecting the sub-sector.
Speaking at the inaugural session of NIFAN, the Managing Director TAJ Bank, Norfadelizan Abdul Rahman, noted that Nigeria’s non-interest industry has enormous potential, but would require concerted efforts of relevant stakeholders to drive and maximise growth to ensure that it takes a stronger position within its niche.
While utilising examples from different climes where non-interest banking has become the norm, Rahman urged participants to return to their respective banks with a renewed focus on collaboration, such that their efforts under NIFAN would be of benefit to the industry and its customers.
At an interactive session hosted by TAJ Bank in Abuja, which was attended by treasurers and financial controllers, discussions focused on working out solutions for liquidity management challenges that affect the segment, and also redefining the present narrative on non-interest financial institutions, while forging a common framework to boost its growth and rapid development.
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