Strengthening Muslim Investment in Nigeria: IsDB Institute and Nigerian Exchange Limited Join Forces

May 17, 2024

Lagos, Nigeria: The Islamic Development Bank Institute (IsDB Institute) and the Nigerian Exchange Limited (NGX) collaborated to host a pivotal workshop aimed at building capacity in Islamic capital markets. The event, themed “Economic Development and Business Opportunities through Islamic Capital Markets,” focused on expanding the Nigerian capital markets by promoting the listing and distribution of Islamic financial instruments.

Held on November 21, 2023, the workshop attracted 90 participants from diverse sectors including representatives from the National Pension Commission, Debt Management Office, Lagos State Government, and various financial institutions. Notably, it included senior professionals from law firms, banks, investment banks, fund managers, and property management firms, alongside presidents of key corporate and financial associations.

The workshop began with keynote addresses from Jude Chiemeka, Executive Director of Capital Markets at NGX, Dayo Obisan, Executive Commissioner of Operations at the Securities and Exchange Commission, and Dr. Sami Al-Suwailem, Acting Director General of the IsDB Institute. Their speeches emphasized the importance of Islamic financial products and services in driving Nigeria’s economic growth, particularly through infrastructure projects funded by Sukuk and enhancing business sector liquidity via capital and finance listings.

The day featured six in-depth capacity-building sessions, offering practical insights into Islamic capital markets’ regulations, products, and services. These sessions covered Islamic finance techniques, current issues, case studies, and success stories, providing a rich learning experience. The final session encouraged an open discussion between participants and IsDBI instructors on utilizing Islamic capital markets to promote inclusive economic development and responsible business practices in Nigeria.

On November 22, 2023, a closed-door roundtable workshop at NGX Group House brought together IsDBI educators and NGX management and staff. This session aimed to foster an environment conducive to advancing Islamic capital market activities, laying the foundation for a long-term strategic partnership between IsDBI and NGX to further strengthen Nigeria’s Islamic capital markets.

About the Islamic Development Bank Institute (IsDB Institute)

The IsDB Institute, a knowledge hub of the Islamic Development Bank Group, develops innovative knowledge-based solutions to support sustainable economic development in its member countries and Muslim communities worldwide. Guided by Islamic economic and financial principles, the Institute drives growth through research, economic analysis, knowledge dissemination, and human capital development. It manages programs to bolster Islamic finance ecosystems, aiding member states in achieving their development goals. For more information, visit [IsDB Institute](https://isdbinstitute.org/).


Contact Information:

Idris Pindiga, Habeeb
Information Horizons Associate Manager
[email protected]

Close
Your custom text © Copyright 2025. All rights reserved.
Close