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[QUOTE="Munyaradzi Mafaro, post: 72534, member: 636"]
Nigeria is deepening its engagement with Islamic finance after lawmakers recently approved a $500 million sovereign Sukuk for the international capital market, according to organizers of the inaugural Muslim Economic Summit scheduled for the University of Lagos. The event will launch a Sustainable Waqf Fund and provide certificates to more than 1,000 young people and women completing pre-summit training in digital marketing, solar installation, mini-import operations and urban farming.

Islamic finance principles prohibit interest-based transactions and speculative dealings while promoting asset-backed investments in infrastructure such as roads, power plants and digital networks. The industry holds $3.95 trillion in global assets with projections reaching $5.9 trillion by 2026. Summit organizers emphasize that strengthening the Muslim community contributes to broader national development through job creation, financial inclusion and ethical entrepreneurship. Registration for the conference remains free but mandatory for attendees.
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