By Qudirat Hakeem-Apanpa
National General Secretary of NACOMYO, Alhaji Moshood Akintola has urged Muslims across the country to embrace Islamic methods of financing and investment in their economic dealings, stressing that adherence to the principles of the Qur’an and the teachings of Prophet Muhammad (SAW) should extend to financial activities.
He made the call at a special lecture to commemorate the 2026 Eid-el-Maulud.The lecture, with the theme, “Islamic Capital Market: Pathways to Effective Funding of Islamic Organisations,” focused on the need for Muslims to explore legitimate Islamic financial instruments to fund businesses, projects and organisations without violating the teachings of Islam.
Akintola explained that Islamic finance provides opportunities for Muslims to grow their businesses and improve their economic well-being while avoiding practices prohibited by Islam.
He identified the avoidance of Riba (interest), responsible risk-sharing and asset-backed financing as some of the fundamental principles of the Islamic capital market.
According to him, Islamic financing encourages both parties in a transaction to share risks fairly rather than placing the entire burden on one party. He also highlighted Sukuk, an Islamic investment instrument often compared with conventional bonds, as one of the avenues available to Muslims seeking Sharia-compliant investment opportunities.
Akintola further explained the concept of Murabaha, in which a financier purchases an asset required by a customer and sells it to the customer at an agreed price, with payment made over an agreed period.
He said the lecture was designed to enlighten Muslims on how to obtain funds for businesses and projects through permissible means while also exposing them to investment opportunities provided within the framework of Islamic teachings.
The NACOMYO scribe stressed that Muslims should not only be concerned about the profitability of their businesses but should also consider the source and structure of their finances.
Also speaking, Hajia Shakirah of Jaiz Insurance, said the organisation had contributed to improving the financial and economic stability of many people, particularly in supporting businesses.
She assured prospective members and beneficiaries that the institution would continue to provide support aimed at helping people achieve greater financial independence.
In their separate remarks, Sanmori Adeeni of Oyo State, Alhaji AbdulAkeem AbdulFatai and Alhaji Sulaimon Mustapha Repete emphasised the need for Muslims to unite and work collectively towards the propagation of Islam and the advancement of the Muslim community.
The speakers urged Muslims to remain steadfast in following the teachings and exemplary life of Prophet Muhammad (SAW), wherever they found themselves.
They also reminded the gathering that Islam is fundamentally a religion of peace, harmony and mutual respect, urging adherents to allow these values to reflect in their conduct and interactions with others.
The lecture provided an avenue for participants to deepen their understanding of Islamic finance while encouraging them to consider ethical alternatives to conventional financial practices that may conflict with Islamic principles.
The programme was well attended by Muslims from across Oyo State, Islamic scholars, representatives of Muslim organisations and financial institutions.
The unique event highlighted a gathering that combined spiritual reflection with practical lessons on wealth creation, responsible investment and ffinancial conduct within the framework of Islam.
