By Gambo Abubakar Kaduna
The Chairman of the Nigerian Exchange Group and Group Managing Director of Finmal Finance Services Limited, Alhaji Umaru Kwairanga, has signed the partnership agreements with the Chad Chamber of Commerce; Industry, Agriculture, Mines and Handcrafts (CCIAMA).
The partnership is to setup in the Republic of Chad’s first non-interest bank (Amana Bank), held at Rioxos Abu Dhabi in United Arabs Emirates.
Kwaraiga however noted that, “When my father and Chairman, Alhaji Dr. Umaru Mutallab, first mooted the idea of a non-interest bank with like minded individuals in Nigeria.
They saw it as a pan African initiative that would spread the advantages of non-interest banking across all of sub-saharan Africa. With the signing of these agreements, we are beginning to fulfil that vision.
” it’s only right that Chad be one of the first countries in Central Africa to follow Nigeria’s example in laying a firm foundation for Islamic banking and finance.”
“because it’s shares a lot of historical and cultural affinity with Nigeria. Parts of Nigeria and Chad were once constituents of the great Kanem Bornu empire and even today there are so many similarities in our foods,our cultures and our challenges.”
We also happy to be introducing this new bank at a time when Chad is taking measured and systematic steps to fast track development through its well thought out Chad Connection 2030. He Added.
He however assured and confident that Amana Bank will play a leading role in attracting and managing the much needed investments and financing that are envisaged in the Chad Connection 2030 blueprint and look forward to patronage and partnerships with the government and business community in Chad.
Kwairanga also explained that, the Bank will provide the technical expertise and experiences that we have gained in almost two decades of running a similar financial institution in Nigeria.
“also it’s a Chadian bank, largely owned by Chadians, staffed by Chadian professionals, and run for the benefit of the Republic of Chad and its citizens.”
He further invited all of those listening to us through various media to be part of this great financial initiative, Amana Bank of Chad, the first non-interest bank in Central Africa.
