News
Mohammed Kateeb Named Co-Chair of CIBAFI’s ITWG
Azentio Software has selected Mohammed Kateeb as a co-chair of the CIBAFI’s Innovation and Technology Working Group (ITWG) for the year 2021-2022 during the Group’s kick-off meeting held on Monday 6 December.
The ITWG is part of the approved CIBAFI (The General Council for Islamic Banks and Financial Institutions) Strategic Plan 2019-2022 whose objective is to conduct various initiatives with the aim of strengthening the adoption of financial technologies within the Islamic financial services industry.
This includes encouraging innovation and product development initiatives that are in line with the industry developments and Sharia principles, coordinating with other strategic institutions in the Islamic finance sector to support a comprehensive integration of trending technologies, and encouraging partnerships and collaboration with key players of the fintech ecosystem.
In response to Kateeb’s appointment, Dr. Abdelilah Belatik, Secretary General of CIBAFI said, “On behalf of the CIBAFI Secretariat, I would like to congratulate Mohammed Kateeb on his appointment as co-chair of CIBAFI’s newly established ITWG.
CIBAFI is recognizing the crucial role of innovation to the continuing success of any organization, and we are enthusiastic to be working with this Group to conduct various activities and initiatives that will strengthen the adoption of financial technologies within our members’ network and beyond”.
Kateeb, a former Group Chairman & CEO at Path Solutions has just begun his new role as President, Middle East & Africa and Global Head of Islamic Banking at Azentio, following its acquisition of the multi-award winning Islamic banking software firm.
An industry veteran, Kateeb will bring increased scale and combined expertise to help Azentio’s diverse client base put in place next-generation technology strategies that meet customer digital expectations and support business growth.
Commenting, Kateeb said, “I have been an active participant in CIBAFI’s strategic meetings for several years and I’m honored to have been selected to co-chair this important Group this year.
“The formation of the ITWG couldn’t have come at a better time, as the Islamic finance sector is trying to find its place and identify its role in the emerging ecosystem in the midst of Industry 4.0 revolution.
“It is critical that CIBAFI plays a key role in assisting and sometimes guiding the innovation of the Islamic banks in their struggle not to be driven to the irrelevance. I am excited to be a part of this important initiative and look forward to continue working together”.
The inaugural meeting which set the groundwork required to achieve the objectives of the ITWG witnessed presentations by Kateeb, Dr. Philipp Wackerbeck, and Suleiman Barada to the 23 members attending from 11 countries on the technological developments in the Islamic finance industry, the key challenges and opportunities that these developments present for Islamic financial institutions, and the strategies needed for mastering innovation to achieve sustainable growth.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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