Sokoto, Islamic Dev’t Bank partner on property, investment fund

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The Sokoto State government on Monday said it would partner with the Islamic Development Bank (IDB) to manage the state’s property and investment fund.

Speaking in Sokoto when he hosted the Senior Training Specialist of the bank’s Research and Training Institute, Dr. Abdulkader Shahi, Governor Aminu Waziri Tambuwal said the economic potential of the venture, to be executed through the state’s Zakat and Endowment committee, would improve capacity of local businessmen to compete at home and abroad.

He said the government would continue to explore means of collaboration with leading financial institutions for the enhancement of business and economic activities in Sokoto.

While announcing that a bill has already been sent to the state House of Assembly for the upgrading of the zakat and endowment committee into a full-fledged independent commission, Tambuwal said funds under the care of the committee will continue to be judiciously utilised for the purpose it was set up for.

In his remarks, Dr. Shashi as head of IDB’s research, publications and training unit, they have collaborated with many institutions and governments to provide information on models of Islamic economy, banking and finance.

He said he was in Sokoto to seek areas of cooperation and staff development for the soon-to- be established Zakat and Endowment Commission.

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