The recent banking meltdown and collapse of Silicon Valley Bank have led to investors seeking more stable alternatives, and money market funds have seen an influx of cash as a result. These funds invest in short-term securities like government bonds and commercial debt, and aim to provide investors with a stable investment option that offers…
Providus Bank recently celebrated World Poetry Day 2023 with Wole Soyinka, with the theme of “Restating Humanity with The Woman.” The event focused on valuing, protecting, and liberating women in global societies. It also remembered students Leah Sharibu and Deborah, who were victims of violence, through a performative poetry segment. The event aimed to highlight…
With Japan preparing to welcome foreign visitors for the cherry blossom season for the first time in three years after loosening COVID-19 border controls, excitement is in the air for the travel industry. Operators of popular tourist spots are rushing to ride the cherry blossom wave, adorning everything from restaurants, vehicles and digital art with…
Japan became the third-largest aid provider in 2021 among members of the Organization for Economic Cooperation and Development, as the COVID-19 pandemic continued to hit developing nations, government data showed Tuesday. The annual white paper on development cooperation issued by the Foreign Ministry said Japan’s official assistance in 2021, calculated by international standards under the…
The Metropolitan Law Firm has launched an endowment fund under the Islamic Banking guidelines to cater to the education of indigent Nigerians for basic to tertiary institutions. The fund, called Waqf, is an instrument of Islamic Estate Planning largely designed for charitable and philanthropic activities to solve social problems. Managing Partner, The Metropolitan…
President Joe Biden on Monday told Americans the nation’s financial systems were safe, seeking to project calm following the quick and shocking fall of two banks that prompted fears of a broader disaster “Your deposits will be there when you need them,” he said. U.S. regulators closed the Silicon Valley Bank on Friday after it…
President Muhammadu Buhari has approved the Central Bank of Nigeria’s (CBN) request for the extension of the deadline for swapping of old Naira notes with the redesigned ones. The new deadline has now been shifted from January 31, 2023, to February 10, 2023. Also, a seven-day grace period, beginning on February 10 to February…
Nigeria’s infrastructure investment managers, Africa Plus Partners Nigeria Limited, has announced the introduction of the first carbon + (ESG- Focussed) naira denominated infrastructure fund, Africa Infra Fund 1, on the Nigerian exchange (NGX). According to Africa Plus Partners Nigeria Limited, its memorandum listing of 17,439 units on the floors of the NGX follows all…
The South Carolina insurance department director has extended the life of the state windstorm association’s expanded coverage area for another two years. In a bulletin posted last week, Acting Director Michael Wise renewed the expanded territory, as allowed by law. The South Carolina Hail and Wind Underwriting Association, commonly known as the Wind Pool, includes…
The Islamic Corporation for the Development of the Private Sector (ICD) and Private Joint Stock Bank “Trustbank” Partner to Provide USD 20 Million In Financing for Private Sector Businesses in Uzbekistan This Line of Finance facility marks the third extended by ICD to Trustbank and aims to promote Islamic finance, improve financial inclusion, and…
