Mutallab recommends Sukuk to offset non-interest liquidity

Chairman of Jaiz Bank Plc, Alh. Umaru Muthalab has said that Nigeria could tackle its infrastructure and developmental deficit using funds from non-Interest financial bond (Sukuk).

Muthalab spoke, yesterday, at Bayero University Kano, shortly, after the International Institute of Islamic Banking and Finance honoured him with a meritorious Islamic Banking and Finance Leadership Award, for pioneering non-interest banking in Nigeria.  
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The renowned business man and banker said the Central Bank of Nigeria (CBN) could deploy the Islamic financial instrument on non-Interest liquidity accrued by Islamic Banks and others financial institutions with non-interest window to develop infrastructure facilities in the country.