PenOp Boosts Sharia-Compliant Investments with RSA Fund VI Strategy Session

Kindly Share This Story:

The Pension Fund Operators Association of Nigeria (PenOp), in collaboration with the National Pension Commission (PENCOM), recently held a strategic webinar titled “Maximizing the Potential of RSA Fund VI: Exploring Sharia-Compliant Investments.” The session brought together industry experts and stakeholders to explore the growing demand for non-interest financial products within the pension industry, specifically focusing on RSA Fund VI, a Sharia-compliant fund under the Contributory Pension Scheme.

In his opening remarks, PenOp CEO Oguche Agudah highlighted the critical need to expand investment opportunities within the ethical finance space, emphasizing collaboration across the sector. He pointed out that tapping into Sharia-compliant investments would diversify pension fund administrators’ portfolios, while meeting the ethical and religious preferences of many contributors.

Chairman of the Pension Industry Non-Interest Advisory Committee (PINAC), Dr. Adam Muhammad Abubakar, discussed the challenges Pension Fund Administrators (PFAs) face when trying to access Sharia-compliant instruments. He called for more innovative outlets and greater awareness of the sector’s potential. Bil-yaminu Yakubu, representing PENCOM’s Head of Investment Supervision, reiterated the commission’s commitment to supporting PFAs by providing clear regulatory frameworks that encourage non-interest investments and foster confidence.

A key highlight of the session was the role of Sukuk bonds, which have already proven successful in raising funds for infrastructure development. Panelists emphasized that increasing the issuance of such instruments would attract more PFA participation and accelerate the growth of RSA Fund VI. There were also discussions on the necessity for more coordinated efforts between PENCOM and the Securities and Exchange Commission (SEC) to facilitate the development of non-interest financial products.

Abimbola Yusuf, Treasurer of Alternative Bank, emphasized their transition into a standalone non-interest bank, pledging to offer tailored products for RSA Fund VI that meet both liquidity needs and comply with Islamic finance principles. Similarly, Marble Capital CEO Akeem Oyewale spoke about the growing market for Sharia-compliant investments and assured attendees of a strong pipeline of innovative instruments designed to help PFAs diversify their portfolios.

With the increasing demand for ethical financial products, PenOp remains dedicated to unlocking the full potential of RSA Fund VI, working closely with regulators and industry players to ensure that Sharia-compliant investments thrive in Nigeria’s evolving pension landscape.

The event was proudly sponsored by Alternative Bank and Marble Capital.

 


Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

x