By Ahmad Sorondinki
The 16th Emir of Kano Muhammadu Sanusi II, has unveiled the UTLAM Halal Fund in Kano and called on individuals and business owners to embrace broader financial diversification and Halal-compliant products.
Emir Sanusi made the call at the official commissioning of the Kano office of UTL Trust Management Services Limited and UTL Asset Management Limited, where he performed the symbolic launch of the Ultimate Halal Fund.
“I will like to urge everyone of us to consider broadening our financial portfolios from just savings and loan accounts, to insurance products, exploiting services that are offered by institutions like these,” the Emir said.
“It is absolutely important for each and everyone of us, not just for our families, but for those who wish to leave behind a legacy,” he added.
The Emir explained that disasters such as fire outbreaks, which have serially wrecked markets in Kano, theft and sabotage have grossly affected and closed down businesses due to lack of access to financial services that could help them recover.
He noted that there are many products within the financial services sector that are Halal and can be exploited by business people in the state.
Speaking earlier, Chairman of the board of directors of UTL, Dr. Shamsuddeen Usman, said the company was not just opening an office in Kano to add to its number of branches, but to bring its services to the doorstep of the people of Kano.
“We are not just opening an office in Kano to add to our number of offices, we are in Kano to bring our services to the doorsteps of the people of Kano,” he said.
“We have launched a Shari’ah-compliant service to our Kano customers. Our services have been scrutinized and approved by the Shari’ah advisory board,” Usman stated.
In his remarks, Omotoro Olaide, the Executive Director of UTL Trust Management Services Limited said:
“Kano is one of the most important commercial centres in Northern Nigeria, so expanding our presence here was a natural next step for us.
“We recognise the scale of economic activity in this region and the needs of the individuals, families and
businesses driving it. We want to be closer to these clients, understand their needs better and make our services more accessible to them.”