In a powerful demonstration that effective empowerment requires both financial resources and moral grounding, the MajmolQueen Foundation, led by US-based philanthropist and registered nurse Hajia Majeedah Ashimi Idris, recently injected crucial support into Nigeria’s small business ecosystem.
At a special gathering held at Crescent Schools, Victoria Island, Lagos, the foundation disbursed cash grants and essential equipment valued at millions of naira to over 14 young entrepreneurs, predominantly women. The impactful event was paired with a comprehensive business seminar focused on two critical success factors: accessing interest-free (non-riba) funding and adhering to ethical Islamic business practices.
The Visionary: Empowerment Across Continents
Though the foundation’s founder, Hajia Majeedah Ashimi, resides in the United States, her commitment to local upliftment is absolute. She was represented by the Ashimi family, led by Alhaji Tajudeen Olubunmi Ashimi, who praised her dedication to aiding the underprivileged and young entrepreneurs.
The empowerment initiative was hailed as a “rare act of compassion,” with Alhaji Ashimi urging both government and private organizations to emulate the model. He strongly advised the beneficiaries to honor the foundation’s vision by wisely investing the support into meaningful business growth.
The Seminar: Trust, Ethics, and Sustainable Growth
The educational segment of the program was led by experts who focused on building businesses rooted in integrity:
1. The Mechanics of Trust-Based Finance
Dr. Lukman Lanre Seriki, an auditor from The Alternative Bank, addressed the challenges small entrepreneurs face in accessing formal credit. He emphasized that for small ventures, character and trust are the real currencies for securing support from friends, family, suppliers, and informal networks.
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Viable Alternatives: Seriki noted that many suppliers are willing to provide goods on credit, but only to entrepreneurs who demonstrate discipline and credibility.
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The Diversion Risk: He warned against “diversion risk”—misusing business funds for personal, non-essential expenses—which is a major red flag that destroys the trust required for informal financing.
2. The Mandate of Truth and Transparency
Ustadh Aleem Farouk (Al-Egbawi), Chief Imam of Darul Salaam Central Mosque, Abeokuta, provided an insightful lecture on the core Islamic ethics of trade. He stressed that while Islam encourages business, transactions must be strictly halal (lawful) and free from riba (interest) and deceit.
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Honesty as the Trademark: Al-Egbawi stated that businesses must be rooted in truth. He specifically warned against misrepresenting products (e.g., claiming to sell what you don’t own), hiding defects (citing the Prophet’s instruction to expose both wet and dry wheat), and short-changing customers.
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Divine Blessing: He concluded by noting that dishonesty and engaging in haram practices strip a business of Allah’s blessings, and ultimately, on the Day of Judgement, those who were cheated will take their rights from the perpetrator.
The event successfully fused the necessary financial capital with the crucial moral capital, equipping the beneficiaries to pursue business growth that is both profitable and ethical.
