Code of Conduct Tribunal unveils al-Halal Multipurpose Cooperative Society.

(Conduct Tribunal News) – The Code of Conduct Tribunal’s al-Halal Multipurpose Cooperative Society was inaugurated on Thursday March 7, 2014 to complement the activities of the existing conventional cooperatives.

While delivering a keynote address at the occasion, the Chairman of the Code of Conduct Tribunal, Danladi Yakubu Umar (Justice) indicated that non-interest financial transactions as a global trend has been adopted by countries that are predominantly non- Muslim in preference to  the interest-based kind of lending.

The Chairman added that al-halal is built on Islamic principles of providing a wide range of options to interested individuals who are comfortable with it, especially to the Muslims whose belief system prohibits usury in transactions.

According to him, the Managing Director of Jaiz Bank, Mustapha Bintube confirmed to him that a great number of the customers operating with the bank are non-Muslims. He maintained that people should be allowed to make options based on what they believe in.   “Nigerians should be allowed to practice their religion as they believe. Judgment should be left to the Almighty God,” he said.

The Chairman stressed on having tolerance across all religious divides, noting that all humans are from one source, are created by the same God and so dominion over judgment is for God alone. Adding, the Chairman of the tribunal is a father to all and so is capable of attending events slated for both Christians and Muslims alike. “I am for everybody in the tribunal,” he stated.

The Tribunal al-Halal Interim Chairman, Umar Sambo in his remarks said that the long    expectation to have the Islamic Multipurpose Bank in place has finally been achieved. He assured the gathering that the new product is not to compete with the existing one, but to help in liberating staff of the CCT from the exploitation of the former system as well as guaranteeing  wealth creation tailored on equity and fairness as obtains in the sharia.

Umar Sambo expressed optimism that the Islamic Multipurpose Cooperative will succeed without the use of interest. He therefore called on all staff, irrespective of their religious inclinations to avail themselves of the new concept.

Some Resource Persons from the National Hospital Abuja, who were present at the occasion to enlighten as well as inaugurate the CCT al-Halal Cooperative led by Abdul Razak Adio commended the Chairman of the Tribunal for attending the event in-spite of the official tight schedules. He also described his humility as an uncommon Chairman for finding it worthy to attend the gathering.

He further explained that the Islamic Cooperative came into existence to offer alternative avenues to its members towards eradicating the interest mode of lending which has disparaged humanity for a long time.

Razak Adio confirmed that al-Halal membership is for both Muslims and Christians, stating that the new concept is spreading rapidly across Nigeria. He maintained that its operational services are carried out in clear and transparent manners; noting that the leadership of the cooperative is to provide services to people and is not to take advantage of them to relish itself in comfort with people’s monies.

In the closing remark, the Chief Registrar of the Tribunal, Bello Kawu thanked the resource persons for gracing the event with lectures. He inferred that the inauguration was eventful with the attendance of the tribunal’s management and staff across religious divides.