Amaanah Non-Interest Finance Company Opens New Pathways to Ethical Finance, Financial Inclusion
Dike Onwuamaeze A wide range of financial solutions designed to expand access to ethical finance and create practical pathways for individuals and businesses to build assets, grow and pursue greater
Amaanah Non-Interest Finance Company, the first of its kind in Nigeria licensed by the Central Bank of Nigeria, has launched a range of financial solutions to expand access to ethical finance and empower individuals and businesses to achieve financial independence. The company's launch in Lagos, themed 'Financial Independence: Empowering Lives Through Ethical Finance', was chaired by Dr. Umaru Kwairanga and co-chaired by Niyi Yusuf.
Dr. Akeem Oyewale, the Board Chairman of Amaanah Non-Interest Finance Company, emphasized the company's mission to build a financial institution that connects access to finance with the values and aspirations of its customers. "Our ambition is to contribute to a financial ecosystem where people can access solutions that align with their values, where businesses can obtain responsible financing to grow, and where individuals can pursue their aspirations with greater confidence and dignity," he said.
Chief Imam of the University of Abuja, Prof. Taofeeq Azeez, spoke on the broader significance of ethical finance in supporting financial empowerment and inclusive economic participation. He noted that Nigeria requires significant capital for infrastructure, business expansion, and job creation, stating that non-bank financing alone cannot meet these needs. "We need financial ecosystems that are broader, cheaper, and more inclusive – one capable of mobilizing capital from multiple sources and efficiently," Azeez explained.
The Managing Director, Dr. Adewumi Oni, presented the company's products and services, emphasizing Amaanah's approach to providing practical financial solutions for personal, business, and investment needs. He stated, "Amaanah is where finance meets with purpose, opportunity meets with principles, and prosperity is built with principles."
Oni explained that the company was founded to answer the question, "What if finance could do more than provide access to money?" Amaanah offers purposeful and impact-driven finance solutions while adhering to Shariah principles.
Dr. Oni highlighted that the company's product portfolio is tailored to meet the real financial needs of individuals and businesses. For businesses, Amaanah provides financing solutions for acquiring productive assets that can support operations, improve capacity, and enable growth. Households can benefit from flexible financing for essential home appliances through HomeFlex, improving comfort, convenience, and quality of life.
Investment solutions are designed to enable ethical investments, while wealth advisory and fund management services support customers in managing, preserving, and growing their wealth in line with their financial objectives and ethical principles.
The company leverages technology to make its solutions more accessible, with the Amaanah Investment App simplifying access to investment opportunities and the Amaanah Marketplace connecting customers to financing solutions for products like appliances, vehicles, and other eligible assets. A panel discussion titled 'Mobilising Local Capital for SME Growth: Challenges and Non-Interest Finance Opportunities' was also held during the launch, addressing the financing challenges faced by small and medium-sized enterprises and exploring the opportunities offered by non-interest finance.
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