Kingsley U.N. Chikwendu —
The Muslim Lawyers Association of Nigeria (MULAN) led by its national president, Professor Abdul Qadir Ibrahim Ibikan, in a courtsey visit to the Federal Mortgage Bank of Nigeria in Abuja, the Nigerian capital, commended the bank for introducing non-interest Rent to Own Housing Product that will enable a broader spectrum of Nigerians own their homes.
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“We received the news of FMBN’s approval of the non-interest rent-to-own product with extreme excitement, Professor Ibikan said.
“This is because it provides an alternative mortgage scheme for many Nigerians whose religious beliefs do not allow them to benefit from the Bank’s housing products because of their interest-based nature.
“We believe the decision will engender a more inclusive mortgage system for a broader spectrum of Nigerians”, he said.
He added that MULAN is ready and willing to partner with the management and staff of the FMBN.