By Abdulfatah Babatunde The International Finance Cooperation (IFC) and the Central Bank of Nigeria (CBN) have signed a collaborative agreement to increase local currency financing. TheNewsZenith reports that Hakama Sidi-Ali, the CBN’s acting Director of Corporate Communications, announced the partnership in a statement on Monday in Abuja. Sidi-Ali stated that the agreement was to enable private […]
By Abdulfatah Babatunde The Islamic Corporation for Insurance of Investment and Export Credit (ICIEC) has signed a Memorandum of Understanding (MoU) with the Central Bank of the Republic of Azerbaijan (CBAR) to enhance Islamic insurance services. TheNewsZenith reports that ICIEC is a Shariah-based multilateral insurer and member of the Islamic Development Bank (IsDB) Group. The […]
By Abdulfatah Babatunde Young African entrepreneurs have asked the African Development Bank (AfDB) to expand its support to female entrepreneurs, young innovators and business creators. Such expansion will reduce poverty and tackle the dearth of jobs in Africa. TheNewsZenith reports that the African youth business representatives were speaking at a panel discussion titled: “Our World, […]
By Abdulfatah Babatunde The Islamic Development Bank Institute (IsDBI) has announced the successful completion of its flagship Islamic Finance Strategic Mapping Framework (IF-MAP), (formerly IF-CAF) pilot exercise in the Republic of Kazakhstan. The bank announced this in a statement mailed to TheNewsZenith on Sunday. According to the statement, IsDBI conducted this comprehensive assessment in collaboration […]
The National Bank of Ethiopia (NBE) has announced the adoption of an interest-rate-based monetary policy regime in line with international best practices to ensure price stability and foster economic growth. The new regime comes as the central bank takes a major step to switch away from the previous credit ceiling policy. This is to ensure […]
By Abdulfatah Babatunde The African Development Bank (AfDB) has appointed Dr Eric Kehinde Ogunleye, a seasoned macroeconomist, as Director of the African Development Institute, effective June 1, 2024. Ogunleye, a Nigerian national, has nearly 20 years of experience in macro and development economics, capacity development and public governance. The new director has experience in regulatory […]
From Our Correspondent The Nigeria Deposit Insurance Corporation (NDIC) says it has started the liquidation process of the failed Heritage Bank Plc. It is immediately starting verification and payment of insured deposits to the failed bank’s depositors. This is following the revocation of the bank’s operating license by the Central Bank of Nigeria (CBN) on […]
By Abdulfatah Babatunde The Islamic Development Bank Group Business Forum (THIQAH) and the World Association of Investment Promotion Agencies (WAIPA) have signed a Memorandum of Understanding (MoU) on investment opportunities. TheNewsZenith reports that the MOU is aimed at fostering collaboration to promote business and investment opportunities on a global scale. The agreement underscores the shared […]
By Abdulfatah Babatunde President of the African Development Bank (AfDB) Dr Akinwumi Adesina has emphasized the critical need for significantly increased financing to meet the Sustainable Development Goals (SDGs). TheNewsZenith reports that Adesina spoke at the Islamic Development Bank (IsDB)’s 50th-anniversary celebrations in Riyadh. He highlighted a growing annual financial shortfall of $4 trillion. This, […]
The Islamic Development Bank (IsDB) Institute has slated the 18th edition of its Global Forum on Islamic Finance to hold in Riyadh, Saudi Arabia, on April 28. The forum will be hold alongside the IsDB Group’s Annual Meetings and Golden Jubilee Celebration. It is organised annually as a flagship side event of the Group’s Annual […]