The Emir of Kano, Muhammadu Sanusi II, has urged Muslims to protect and grow their wealth through ethical investment products, insurance and better financial planning. His message focused on widening access to services that align with Islamic principles while helping households and businesses manage risk.
Call for wider use of compliant financial products
Sanusi made the call at a stakeholder session in Kano, where he encouraged Muslims to consider banking, insurance and investment opportunities that meet Sharia requirements. He said the availability of such products could address concerns that have kept some people away from formal financial services.
The emir also stressed the importance of diversification and effective wealth management. For families and business owners, spreading risk and understanding the terms of an investment can be as important as seeking returns.
Why insurance matters to traders
Sanusi urged traders to take insurance seriously, pointing to repeated fire incidents in markets. He warned that a single disaster should not automatically end a business or push a trader into bankruptcy.
Financial protection needs preparation
Insurance, emergency savings and clear records can help businesses recover after a loss. The right product still requires careful review, including the level of cover, exclusions, claims process and affordability.
Digital learning and access
The session also highlighted efforts to expand access to financial information and digital education. A new ICT centre established at the Emir’s Palace was described as a way to give young people stronger access to learning resources and wider knowledge.
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Conclusion
The message from Kano is a reminder that wealth protection involves more than earning money. Ethical choices, diversification, insurance and financial education can help households and traders build greater resilience in an uncertain economy.
