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Nairaland Forum / Nairaland / General / Politics / Nigeria’s First Islamic Bank May Close Down Due To Lack Of Customers (1086 Views)
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Nigeria’s First Islamic Bank May Close Down Due To Lack Of Customers by emekson(m): 12:46pm On Aug 30, 2012 |
Nigeria’s first Islamic Bank may close down due to lack of customers By News Express, Abuja on 30/08/2012 Six months after it commenced operations, indications have emerged that the brouhaha that greeted the decision of the Central Bank of Nigeria (CBN) to introduce Islamic banking in the country was unnecessary. Ja’iz Bank Plc, Nigeria’s first Islamic bank which started operations in February with three branches located in Abuja, Kaduna and Kano, has been contending with poor patronage and faces the possibility of early closure, News Express has learnt. The situation has become so worrisome that some concerned Muslims have started mobilizing for increased opening of account with the Islamic Bank so as to prevent its premature death. In a message posted on his Facebook wall, Adebayo Mutalubi Ojo, a senior legal practictioner, wrote: “Please open an account with Ja’iz Bank in Abuja, Kaduna or Kano; or any Stanbic IBTC branch (Islamic Banking Account), today. Help Ja’iz Bank to maintain its license. It will be a big shame to us Muslims for Ja’iz Bank to lose its license for lack of customers despite our numerical strength. It is just N2,000 to open the account ! Pls forward to other Muslims and interested persons now!” Efforts made by News Express to reach Ja’iz Bank failed as none of the phone lines provided on the bank’s website (+234-9-2347568 and +234-9-2347614) went through. News Express recalls that Islamic banking was vehemently opposed by Nigerian Christians but CBN Governor, Sanusi Lamido Sanusi, went ahead with the project. The main feature of Islamic banking is the non-collection of interest on lendings. m.facebook.com/story.php?story_fbid=498025360208602&id=158009860876822&refid=8&_ft_=qid.5782429614758360788%3Amf_story_key.-3744967933853845001 |
Re: Nigeria’s First Islamic Bank May Close Down Due To Lack Of Customers by itiswell1(m): 1:05pm On Aug 30, 2012 |
Re: Nigeria’s First Islamic Bank May Close Down Due To Lack Of Customers by Ufeolorun(m): 1:05pm On Aug 30, 2012 |
Some of us know that this 'unusury' model is seriously flawed and is basically being propped up by the West cos of its lust for Arabian oil windfall and wealth from the gulf. For Islamic banking to take root it would have to create its own infrastructures(businesses,deals,politics,culture),it won't survive leveraging the system built on or by usury. Its a lesson for people who typically switch of their reasoning process whenever issues bordering on religion is tabled. |
Re: Nigeria’s First Islamic Bank May Close Down Due To Lack Of Customers by emekson(m): 1:22pm On Aug 30, 2012 |
at first should this be islamic oriented, now look at what it suffering from, no network base, alliance,not even support from the so called mongul. sanusi claims he knows better. Handwriting on the wall |
Re: Nigeria’s First Islamic Bank May Close Down Due To Lack Of Customers by agent22: 2:51pm On Aug 30, 2012 |
Re: Nigeria’s First Islamic Bank May Close Down Due To Lack Of Customers by agent22: 2:53pm On Aug 30, 2012 |
we know how billions of naira (oil money)that was wasted in this project. |
Re: Nigeria’s First Islamic Bank May Close Down Due To Lack Of Customers by billante(m): 2:55pm On Aug 30, 2012 |
Does it mean nobody wants to collect their interest free loans I don't get it?? Who will be offered free food and he will reject it or is there a clause in the loans? |
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