The Islamic Development Bank (IDB) has announced plans to invest $98 million for the implementation of bilingual education in Nigeria.

The president of the bank, Dr. Ahmad al-Madani said the funds will be used in providing support for the integration of Quranic schools into western education. IDB’s president made this known at the first business meeting organised by the bank in Nigeria to sensitise the nation of products available in the bank for all its member countries.

Dr Al-Madani explained that the bank’s decision is aimed at improving enrolment in schools, most especially for the girl child.

According to IDB’s president, “the main purpose is also to link the boys coming out of the Quranic schools known as Madrasas, with the public education system. He further noted that this policy has become very necessary owing to the unfortunate problem of Boko haram.

IDB’s policy on bilingual education is coming at a time when fundamentalist sect in northern Nigeria, Boko Haram which is translated to ‘Western education is a sin’, are attacking schools in the region and called for the creation of Islamic states across the north.

Before stating its developmental plans for Nigeria, the president of the bank corrected the notion that the bank is a religious institution.

While assuring Nigerians of its commitment to ensuring the socio economic development of its member countries, Dr. Al-Madani said the bank is willing to improve the nation’s education system.

Noting that plans are underway to ensure development at all levels through the federal government’s transformation agenda, the Vice President, Architect Namadi Sambo asked for more support from the bank, especially in the area of developing the nation’s infrastructure.
Officials of the Islamic Development Bank also promised to assist the country in the rehabilitation of the Lagos Ibadan highway, the rail system as well as the rehabilitation of some hydroelectric dams in the country.

Jaiz Bank Plc, the nation’s first licensed Islamic Bank commenced full operation of non-interest banking in Nigeria from three branches in Abuja, Kaduna and Kano.