Minister of Finance, Wale Edun, has said the world can no longer afford the “elevated high levels” of interest-based financing. Edun stated this at a programme organised in Abuja by the Security Exchange Commission (SEC) and the Islamic Financial Services Board, (IFSB). The Minister noted that man-made and natural shocks that have pushed rates sky-high, adding that development is also constrained by the soaring cost of borrowing. Edun stressed the detrimental impact of high interest rates, saying, “make it impossible to access the funds needed for development, infrastructure, and even…
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