THE Central Bank of Nigeria, CBN, said that plans are underway to extend the non-interest banking or Islamic banking principles to non-banking financial services. Some non-bank financial institutions, such as insurance companies, fund managers stockbroking firms have already introduced to the market products designed after the Islamic banking model.

Speaking at the 16th annual CBN seminar for financial market journalists in Adamawa state, Special Adviser to the CBN Governor on Non-Interest Banking, Dr. Bashir Umar, in his paper titled, ‘Overview and Conceptual Issues of Non-Interest Banking in Nigeria,’ said that the apex bank will ensure that the proposed introduction of non-interest financial services will not be limited to banking services alone.

Ovularia:

CBN to extend Islamic banking to other financial sectors
http://www.vanguardngr.com/2011/09/cbn-to-extend-islamic-banking-to-other-financial-sectors/

Remii:

^^^so you think sanusi is the problem, eh, those who sold dummies for us and made away with billions of naira in failed banks are better, shey.

chamber2:

When is sanusi's tenure expiring

manny4life:


Exactly my thoughts; WHEN IS HIS TENURE EXPIRING? This man pisses me off daily with his imposing; he's about to throw turmoil in our great country. While people are decrying about the so-called Islamic banking, here he is instituting Islamic principles to Non-Banking Financial Institutions. If he is Pro-Islamic agenda leader, let him leave the CBN, we need conventional practices and principles [b]NOT [/b]Islamic Principles.

chamber2:

Don't worry, some islamic banking apologists will soon come after you, just because you expressed your thought and enlightened opinion.

But who cares

Who cares about sanusi and his ranting

I only care about the economy and the people of Nigeria he is about to plonk into another round of recession.

VoodooDoll:

Funds from Northern States under Sharia will likely be placed in Sharia compliant banks and products.

The Federal govt may face pressure to put some of the "reserves" in sharia compliant banks and products.

Interesting times.

Sharia banking/finance is a distraction, Nigeria has bigger issues.  Sharia banking if implemented properly will be neutral to Nigeria's economy.   But knowing Nigeria, we will use these new products as a way to further deepen our ethnic and religious differences.

VoodooDoll:

Funds from Northern States under Sharia will likely be placed in Sharia compliant banks and products.

The Federal govt may face pressure to put some of the "reserves" in sharia compliant banks and products.

Interesting times.

Sharia banking/finance is a distraction, Nigeria has bigger issues.  Sharia banking if implemented properly will be neutral to Nigeria's economy.   But knowing Nigeria, we will use these new products as a way to further deepen our ethnic and religious differences.

Remii:

^^^so you think sanusi is the problem, eh, those who sold dummies for us and made away with billions of naira in failed banks are better, shey.

Kellymann:

I think we all should be objective and sensitive in the way we react to issues. The whole brouhaha over Islamic banking has been riddled with so much bigotry and mistrust. Many of us who are die-hard opponents of the principle have developed this kind of mindset based on some of the misrepresentations about Islam we have been exposed to over the years.

Many of us are all of the opinion that anything that has the appellation Islamic means a lot of negative things that misrepresentations have allowed us to ascribe to it.

I am sure this is also fueled by the fact that the issue of Islamic banking was brought up again during the the tenure of a CBN governor who is a Muslim. Some of us calling for the head of Sanusi today I know would have praised him when he stood up against the Senate during their allocation issue.

We should learn to be more tolerant of each other more so at this crucial point of celebrating 51 years of independence. Nigeria is still one today because of the sacrifice of some people to make it one. Let us not all tear it apart with our attitude of always wanting to suspect the other ethnic group, religious group, etc.

Happy Independence y'all! God bless Nigeria

Kellymann:

I think we all should be objective and sensitive in the way we react to issues. The whole brouhaha over Islamic banking has been riddled with so much bigotry and mistrust. Many of us who are die-hard opponents of the principle have developed this kind of mindset based on some of the misrepresentations about Islam we have been exposed to over the years.

Many of us are all of the opinion that anything that has the appellation Islamic means a lot of negative things that misrepresentations have allowed us to ascribe to it.

I am sure this is also fueled by the fact that the issue of Islamic banking was brought up again during the the tenure of a CBN governor who is a Muslim. Some of us calling for the head of Sanusi today I know would have praised him when he stood up against the Senate during their allocation issue.

We should learn to be more tolerant of each other more so at this crucial point of celebrating 51 years of independence. Nigeria is still one today because of the sacrifice of some people to make it one. Let us not all tear it apart with our attitude of always wanting to suspect the other ethnic group, religious group, etc.

Happy Independence y'all! God bless Nigeria