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Sunday 11 Oct 2015 - 10:54 Makkah mean time-28-12-1436
(Image from theeagleonline)
Abuja, (IINA) - The Lord Mayor of the City of London Alderman Alan Yarrow, during a trip to Nigeria recently, urged the country to consider all sources of finance as a means for attracting investment, Islamic Finance News reported.
In particular, the Lord Mayor was keen to highlight the City of London as a leading centre for Islamic finance and stated Islamic finance can provide substantial investment for Nigeria.
He said Islamic financing was currently marginally more expensive when compared to conventional finance but this difference was expected to reduce as volumes increase within the Islamic financial market. Yarrow suggested the North of Nigeria would in particular benefit from Islamic financial products.
It is noteworthy that Yarrow, led a business delegation to Abuja and Lagos for two days from Tuesday.
Acting as ambassador for the UK’s financial and professional services, the Lord Mayor met with senior members of the government, central bank, investment authorities, regulators and business leaders.
SM/IINA
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