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Commission restates commitment to widen depth of capital market

folarin okunola

October 20, 2015 1:33 PM

Mr. Mounir Gwarzo, Director-General, Securities and Exchange Commissin (SEC) has reaffirmed the Commission’s commitment to expand the depth of the nation’s financial market along with promoting financial inclusion in the country

Mounir Gwarzo, DG SEC.

According to various media reports, Mr. Mounir Gwarzo, Director-General, Securities and Exchange Commission (SEC) has reaffirmed the Commission’s commitment to expand the depth of the nation’s financial market along with promoting financial inclusion in the country, at a High Level Regional Roundtable on Non-Interest Capital Market in Kano on Monday.

According to the SEC DG, “Our role is to boost non-interest capital market product innovation so that the segment can be at least 25 per cent of the overall market capitalisation. We intend to build a strong regulatory regime for non-interest products, encourage stakeholders in the non-interest capital market."

“In addition, we intend to ensure the emergence of Nigeria as a prominent non-interest capital market hub, both at the regional and global levels,’’ Gwarzo said.

READ: Leading commercial bank lists N30bn bond on FMDQ OTC to boost SMEs financing

Gwarzo also affirmed that for the potential in the country to be harnessed, proper planning was necessary: “This is why at the SEC we set up a committee of experts last year to produce a 10-year master plan. We are confident that our own master plan objectives will be achieved.”

The theme of the workshop was “Financing development through Islamic Capital Market – A viable alternative.”

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