Sultanate Moves To Establish Islamic Microfinance Bank To Fight Poverty

The Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, has said the Sultanate Council is working to establish the Caliphate Islamic Microfinance Bank to tackle poverty, support small-scale businesses and promote sustainable livelihoods.
The Sultan disclosed this on Monday in Sokoto at the opening of a three-day training and capacity-building programme on Baitul Mal wat Tamweel (BMT) for stakeholders, organised by the Islamic Development Bank (IsDB) in collaboration with the Sokoto State Zakat and Endowment Agency.
Represented by the District Head of Kilgore, Alhaji Jabbi Kilgore, the Sultan said the proposed bank would provide small-scale entrepreneurs with access to Islamic financ...