Liquidity Challenges: NIBs’ Stakeholders Seek Lasting Solutions

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BY VICTOR OSOWOCHI, ABUJA – Disturbed by emerging challenges in liquidity management, Treasurers and Financial Controllers of Non-Interest Banks (NIBs) in Nigeria are determined to find lasting solutions aimed at growing the sector on a sustainable basis.

Rising from their meeting in Abuja recently, they agreed that targets must also be set in tackling issues concerning  effective liquidity management within NIBs in the country.

In charting the way forward, the stakeholders also agreed to redefine the present narrative on Non-Interest Financial Institutions, while forging a common framework to boost the growth and rapid development of the sector.

Addressing the inaugural session of Non Interest Finance Association of Nigeria (NIFAN) in Abuja, Managing Director, TAJ Bank, Norfadelizan Abdul Rahman acknowledged the huge potential of Nigeria’s Non-Interest Industry that must be harnessed for the overall good of the economy.

He however said despite these ‘enormous potential’, it  “would require the concerted efforts of relevant stakeholders to drive and maximise growth to ensure that it takes a stronger position within its niche.”

Rahman, who cited examples of different jurisdictions where Non-Interest banking has become the norm, said it is important for all stakeholders to “return to their respective banks with a renewed focus on collaboration such that their various efforts under NIFAN would be of benefit to the industry and its customers.”

According to him, aside making conscious efforts to tackle existing and emerging challenges within the sector, NIFAN must initiate and pursue clear agenda to strengthen and enrich Non-Interest Financial Institutions (NIFI) as a flourishing industry.

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