By InvestAdvocate

Lagos (INVESTADVOCATE)-The Securities and Exchange Commission (SEC) Thursday said it working at developing an Islamic Finance Master Plan for the Nigerian Capital Market.

Arunma Oteh, the Director General of the Commission made this disclosure at the Second Quarter 2013 Capital Market Committee (CMC) Meeting and review of performance at the Nigerian Capital Market.

According to Oteh, the plan is that the committees would work on these initiatives and present them at the planned Capital Market Committee retreat scheduled to hold at the end of the year, “its at that planned retreat that the CMC will endorse this with the view that they would begin operations starting in January 2014,” she said.

Oteh in her review of the Nigerian market said Nigeria remains amongst the top 10 performing markets in the world.

According to her, the performance was driven by signals notably with what Ben Bernanke said that we are coming to the beginning of the end of the quantitative easing.

“But we also have some issues that could put fiscal pressures on us, which is of course multiple prediction that there won’t be a decline in the bond market  or if they are concerned about capacity to maintain the same level of production,” she said.

She affirmed Bernanke highlighted the increased participation of domestic investors the Nigerian stock market; signaling that confidence is coming back to our market.