The Emir of Kano, Alhaji Muhammadu Sanusi II, has urged individuals and business owners to diversify their financial portfolios and embrace ethical investment products in line with Islamic principles.
Sanusi made the call at the unveiling of the UTLAM Halal Fund during the commissioning of the Kano offices of UTL Trust Management Services Limited and UTL Asset Management Limited on Monday.
The fund provides investors with access to a professionally managed portfolio of selected Shari’ah-compliant investment opportunities aimed at promoting wealth creation in accordance with Islamic principles.
The development was disclosed in a statement issued by the media office of UTL Trust Management Services Limited, signed by Oduneye Oluwapelumi and made available to PUNCH Online on Wednesday.
The monarch urged Nigerians to look beyond conventional savings and loan accounts by exploring other financial products, including insurance and investment services.
“I would like to urge every one 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.
“It is absolutely important for each and every one of us, not just for our families, but for those who wish to leave behind a legacy,” he said.
Sanusi said businesses in Kano had suffered significant losses from disasters, including fire outbreaks, theft and sabotage, with some forced to shut down because of inadequate access to financial services that could support recovery.
He noted that several financial products were compatible with Islamic principles and could help business owners protect their assets and strengthen their financial security.
Speaking at the event, the Chairman of UTL, Dr Shamsuddeen Usman, said the establishment of the Kano office was intended to bring the company’s services closer to residents rather than merely expand its branch network.
“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.
Usman said the company had introduced Shari’ah-compliant services for customers in Kano, adding that the products had been reviewed and approved by its Shari’ah advisory board.
“We have launched a Shari’ah-compliant service to our Kano customers. Our services have been scrutinised and approved by the Shari’ah advisory board,” he said.
He explained that the Kano office would offer services including trust management, wills and other Shari’ah-compliant investment opportunities for individuals and institutions.
The Executive Director of UTL Trust Management Services Limited, Mrs Omotoro Olaide, said the opening of the office marked an important step in the company’s efforts to serve clients across Northern Nigeria.