Amaanah opens new pathways to ethical finance - Punch Newspapers
Amaanah Non-Interest Finance Company, the first Central Bank of Nigeria-licensed non-interest finance company in Nigeria, officially launched on Thursday in Lagos, unveiling a range of financial solutions designed to expand access to ethical finance and create practical pathways for individuals and businesses to build assets, grow and pursue greater financial independence. The event was chaired by the Chairman of NGX Group, Dr Umaru Kwairanga, with the Chairman of the Nigerian Economic Summit Group, Niyi Yusuf, serving as co-chair. The keynote address was delivered by the Chief Imam, University of Abuja, Prof. Taofeeq Azeez. Delivering the welcome address, Board Chairman of Amaanah Non-Interest Finance Company, Dr Akeem Oyewale, highlighted the company’s ambition to build a financial institution that connects access to finance with the values and aspirations of its customers. “Our ambition at Amaanah is to contribute to a financial ecosystem where people can access solutions that align with their values, where businesses can obtain responsible financing to grow, and where individuals can pursue their aspirations with greater confidence and dignity.” The launch also featured a keynote address by Prof. Azeez, who spoke on the broader importance of ethical finance and its potential to support financial empowerment and inclusive economic participation.See more Punch stories on Google.Add Punch on Google He explained that Nigerians require significant capital to finance infrastructure, expand businesses, and create jobs, adding that governments and traditional sources of bank financing cannot meet these requirements alone. “We need financial ecosystems that are broader, cheaper and more inclusive – one capable of mobilising capital from multiple sources, and efficiently.” Acting Managing Director/CEO of Amaanah Non-Interest Finance Company, Dr Adewumi Oni, outlined the company’s approach to providing practical financial solutions across personal, business and investment needs. “Amaanah is where finance meets with purpose, opportunity meets with principles, and prosperity is built with principles.” He stressed that the company was born to address whether finance could do more than provide access to money. “In answering this core question, we provide purposeful and impact-driven finance solutions, whilst ensuring that Shariah principles are not breached.” Amaanah’s product portfolio is designed around the real financial needs of individuals and businesses. Through Business Asset Financing, the company provides eligible businesses with financing solutions to acquire productive assets that can support operations, improve capacity and enable growth. For households, HomeFlex offers flexible financing solutions for essential home appliances, helping customers acquire products that can improve comfort, convenience and quality of life. FlexiWheels provides financing solutions for eligible vehicles, supporting individuals who require mobility for work, business and other productive economic activities. The company’s investment solutions are designed to enable individuals and businesses to invest through ethical investment structures, while Wealth Advisory and Funds Management services provide support for customers seeking to manage, preserve and grow their wealth in line with their financial objectives and ethical principles. The company is also leveraging technology to make its solutions more accessible. The Amaanah Investment App is designed to simplify access to investment opportunities, while the Amaanah Marketplace connects customers to financing solutions for products including appliances, vehicles, and other eligible assets. Odinaka Anudu
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