Financial Experts Eulogise Aregbesola For Sukuk Bond’s Inroad To Nigeria, West Africa

Some international financial experts have lauded Ogbeni Rauf Aregbesola for paving way for the inroad of Sukuk Bond into Nigeria in particular and West African Countries in general.

Professor Ziyaad Mahomed of Islamic Finance Institute of Southern Africa (IFISA), Dr. Mounir Aliya from Saudi Arabia and Managing Director, United Insurance, Sudan, Dr. Abdul Umar Mutallab and Dr. Tarot Khali Osman gave the remarks at the African International Conference on Islamic Finance held at Congress Hall,  Transcorp Hilton in Abuja.

The financial experts drawn from across the world eulogised Governor Aregbesola for paving the way for Nigeria and other countries in the West Africa sub region to access SUKUK BOND.

The experts speaking on a theme “Connecting People and the Capital Market through Ethical Finance (Impact and Innovation) spoke glowingly of the confidence, fearless and determination of Ogbeni Aregbesola in accessing the Bond against all odds.

They described Aregbesola who was represented at the conference by Osun State Commissioner For Finance,  Mr. Bola Oyebamji as prudent manager of financial resources.

The name of Ogbeni Rauf Aregbesola received standing ovation at the conference for his roles in attracting development to his domain and other African countries through SUKUK Bond.

Dr  Abdul Mutallab said, “Ogbeni Aregbesola embraced SUKUK when many states and countries lack the deep understanding of what SUKUK really stands for, nor utilize the opportunity it presents judiciously.

He further explained that, “the State of Osun under the administration of Ogbeni Rauf Aregbesola has become a reference points to states and Countries ín West Africa with the Federal Government of Nigeria recently accessing a one hundred billion naira of  SUKUK bond.”

Also speaking, Professor Ziyaad Mahomed of Islamic Finance Institute of Southern Africa (IFISA); Mounir Aliya from Saudi Arabia and Managing Director, United Insurance, Sudan, Dr. Tarig Khalil Osman also commended Ogbeni Aregbesola for his courage and unparalleled prudence towards management of financial resources in the State.

Earlier in his presentation, Ogbeni Aregbesola said Osun has made a record of being issuer of the maiden SUKUK in Nigeria and in West Africa .

He explained that the decision to have a combination of both the conventional and faith -based bond in its Bond  Issuance programme in 2013 was borne out of the desire to ensure easy marketability of the bond and also to further exhibit the current administration’s transparency and accountability in her various financial transactions.