MON FEB 09 2026-theGBJournal| The Central Bank of Nigeria (CBN) has granted the Bank of Industry (BoI) approval to operate a non-interest banking window, a move that allows the development lender’s portfolio to include ethical funding and asset-backed financing for businesses, including SMEs and MSMEs.
BoI said over the week that the approval reflects CBN’s confidence in its approach to responsible and developmental financing, as well as a significant milestone in the Bank’s growth and long-term development agenda.
Under the non-interest banking window, BoI would be able to introduce new products and help deepen financing support for key segments critical to overall sustainable economic growth, in line with Islamic finance principles.
BoI CEO, Olasupo Olusi described the approval and licence as a turning point in the Bank’s evolution.
”With this licence we can reach a new category of borrowers who before now could not be served,” he adds.
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