Why we establish non-interest banking in Misau – Emir

The Emir of Misau in Bauchi State has explained that the idea of establishing the non interest Microfinance bank in the emirate was geared towards driving growth in different sectors of the economy.

Emir Suleiman who gave the explanation while interacting with newsmen in his Palace   said the essence is to ensure investments in critical sectors that will drive economic growth.

He said: “under Misau Development Foundation we believe it is crucial in driving economic growth. The community bank follows the Islamic system, they give loans to the poor, to go and do business, when the make  a profit, They  come and share the profit with the bank  and if they make  a loss, they  will share it together.”

Emir Suleiman said the idea behind an establishment of the Development foundation is to help build the emirate  and address the problems of poverty, hunger,   improve education,  health care ,protect the environment and boost its economy.

He Said: “We have appointed experts who are leading in every field. For example in the field of Education, we have appointed Professor Auwwalu Uba, the Vice President of Bauchi State University in Gadau, who is the leader who takes care of the rights of the education department

“In the field of health, Dr Alkali Mohammed, the former Chief Medical Director of the Abubakar Tafawa Balewa University Teaching Hospital Bauchi, is the leader. They have contributed a lot to us, they examined more than 400 sick people and gave them free treatment.”