Open Space Financial Services Limited has unveiled its Ethical Finance initiative, integrating Shariah-compliant financial structures with artificial intelligence (AI), machine learning, and digital infrastructure to expand access to capital, productive assets, and investment opportunities for underserved markets.
The initiative which was launched in Abuja, is designed to move non-interest finance beyond a niche product offering into a driver of broad-based economic participation.
Speaking during the launch, Titus Adakole Ikeh, Chief Executive Officer of Open Space, stated that the company seeks to shift financial services from simple transactional processing toward active asset accumulation and business expansion.
“Financial inclusion should mean more than opening bank accounts or providing access to digital platforms,” Ikeh said. “Meaningful inclusion should enable small businesses to acquire productive equipment, individuals to work towards asset ownership, and customers to save and invest in line with their values.”
The proposition which include: Murabaha, Ijarah, Diminishing Musharakah and Mudaraba, relies on trade, lease, and equity-based financing mechanisms to replace conventional interest-bearing credit.
