samsard: yea, muslims like sani Abacha and Buhari

kane45: Nigeria is a circular state and therefore, no sector of d economy was supposed to be islamised.

Slizbeat: A country split roughly between Islam and Christianity can not afford to carry out such.

Why not Christianity bond or traditional bond??
What of the other side of this financing??

Please do that in the Northern Nigeria or better still, break away into northern republic.

Religious chauvinism should not be played out, Religious tolerance should be our guide if we are to continue as a nation together.

Slizbeat:

My brother, lets forget about that part. The question is what is the other part of this bond?? This is earth and we are all humans. You can't buy a thing at 10000 and sell at 10000 without a hidden agenda or somewhere the money will come back from.

Le Stylo: The level of ignorance in Nigeria is unbelievably alarming. And the realisation is disturbing. The Sukuk is becoming increasingly popular because its interest-free, and is guarded by strict ethics.

Mumudom!

Polio: A lotta dumb fu...cktards on this thread i swear... If people dont understand the ethical and financial benefits of Islamic bonds, and cant be bothered to do a thorough research on it, then i think it is pathetic ... Another reason why Nigeria will continue to head down the line of ruin and destruction!

Never seen so much concentration of dunces on a single thread since i have registered on this forum!

la!:
Ignorance...Ignorance everywhere...Shocking.

tha_originator: aaaaaaaaaaah!



Goodluck AbdulRetardinho Jonathan wants to Islamise Nigeria

Coolboi05: dsame system dubai n Qatar dat u admire use!remove sentiments n CLear yr eye bro..u can do better!

Arewa Warrior:

Religion isnt actually a competition sir. Islam covers every single aspect of our lives, so if ur religion doesnt regulate ur financial activities just let live. Let me give you an e.g In Abuja every single govt building has a mosque because of the fact that twice in the afternoon we muslims HAVE to pray.... 5 times every day for the rest of our lives.

ndu_chucks: Many of the ignorant bigots on this thread do not realize that the phones and/or computers they are using to access the web in order to spew their rubbish, were manufactured with financial instruments, some of which were components of Islamic banking. mumus

Ayekotoo: Central Bank of Nigeria (CBN), Debt Management Office (DMO) and the Infrastructure Concession Regulatory Commission (ICRC), are exploring ways to use Sukuk to build airports, railways and refneries.
Speaking at the National Conference on Islamic Banking and Finance in Nigeria, Wednesday, in Abuja, CBN Governor, Mallam Sanusi Lamido Sanusi, said that in view of the potentials of Sukuk to develop economies in building infrastructure, the CBN, in conjunction with other sister institutions like the Securities and Exchange Commission(SEC), ICRC, DMO, had assembled a technical team to explore the prospects of alternative modes of finance and set out the procedures for using the modes in the development of infrastructure.

He stated that the team had identified, in its report, potential projects that could be financed by sovereign and sub-sovereign Sukuk.
“These projects include upgrade, maintenance, repairs and new construction of roads and highways; upgrade, renovation and new construction of airports, rehabilitation of the rail line and the building of a new rail line and railway stations. Part funding for the construction of the planned three refineries and mass housing and light rail for some states in the federation” he said.
This, he said, was in addition to the role that Sukuk issuance served in deepening domestic capital markets.

Sanusi noted that only recently, the Osun State government successfully issued a sub-sovereign Sukuk worth N10 billion for building public schools and the issuance was oversubscribed.
“The issuance which was oversubscribed and had a full up-take by the originator, shows the buoyancy of our capital market and its need to take up new alternative instruments” he said.
To further underscore the importance of Islamic Sukuk, the governor hinted that the Prime Minister of United Kingdom, David Cameron, announced the plan to make London not just a capital for Islamic finance to the Western world, but one that would stand along side Dubai and Kuala Lumpur as one of the great capitals of Islamic finance, anywhere in the world.

“Last week, I was at the 9th World Islamic Economic Forum in London hosted by the UK Government and at that function, the Prime Minister, David Cameron, announced his government’s plan to make London not just a. capital for Islamic finance to the Western world, but one that would stand along side Dubai and Kuala Lumpur as one of the great capitals of Islamic finance, anywhere in the world.
The UK plans to do this through the issuance of an Islamic bond sukuk, worth 200 million GBP by the UK Government which it intends to do as early as next year. It also plans to create an islamic index on the London Stock Exchange for Shariah compliant securities to attract more islamic investors.

“The UK is embarking on this plan, despite the fact that it is a non-Islamic country which illustrates what we have been saying, that Islamic finance, though based on sharia, is a financial product with clear goals and it is accessible to all” he said.


http://www.tribune.com.ng/news2013/index.php/en/news/item/25722-fg-plans-use-of-islamic-bond-to-build-airports,-refineries.html

SUBMARINE: The Islamic societies still remains one of the poorest in the world yet they go around selling the idea of Islamic banking. I will say it again pls dont make it a collective thing through the FG.

SUBMARINE: The Islamic societies still remains one of the poorest in the world yet they go around selling the idea of Islamic banking. I will say it again pls dont make it a collective thing through the FG.

lovat: There is no diffrence betwwen Islamic loans and other conventional loans. In the normal bank loans interest is stated while in Islamic loan interest is added up with the principal. For example if u want to make a high purchase of a goods worth #30000 in normal banking the goods will be sold with let's say a 10% interest which makes it #33000 while in Islamic banking the cost of the goods for high purchase will go outrightly for #33000. It ll now be spread over to seem as if there is no interest attached to it.

Ayekotoo: Central Bank of Nigeria (CBN), Debt Management Office (DMO) and the Infrastructure Concession Regulatory Commission (ICRC), are exploring ways to use Sukuk to build airports, railways and refneries.
Speaking at the National Conference on Islamic Banking and Finance in Nigeria, Wednesday, in Abuja, CBN Governor, Mallam Sanusi Lamido Sanusi, said that in view of the potentials of Sukuk to develop economies in building infrastructure, the CBN, in conjunction with other sister institutions like the Securities and Exchange Commission(SEC), ICRC, DMO, had assembled a technical team to explore the prospects of alternative modes of finance and set out the procedures for using the modes in the development of infrastructure.

He stated that the team had identified, in its report, potential projects that could be financed by sovereign and sub-sovereign Sukuk.
“These projects include upgrade, maintenance, repairs and new construction of roads and highways; upgrade, renovation and new construction of airports, rehabilitation of the rail line and the building of a new rail line and railway stations. Part funding for the construction of the planned three refineries and mass housing and light rail for some states in the federation” he said.
This, he said, was in addition to the role that Sukuk issuance served in deepening domestic capital markets.

Sanusi noted that only recently, the Osun State government successfully issued a sub-sovereign Sukuk worth N10 billion for building public schools and the issuance was oversubscribed.
“The issuance which was oversubscribed and had a full up-take by the originator, shows the buoyancy of our capital market and its need to take up new alternative instruments” he said.
To further underscore the importance of Islamic Sukuk, the governor hinted that the Prime Minister of United Kingdom, David Cameron, announced the plan to make London not just a capital for Islamic finance to the Western world, but one that would stand along side Dubai and Kuala Lumpur as one of the great capitals of Islamic finance, anywhere in the world.

“Last week, I was at the 9th World Islamic Economic Forum in London hosted by the UK Government and at that function, the Prime Minister, David Cameron, announced his government’s plan to make London not just a. capital for Islamic finance to the Western world, but one that would stand along side Dubai and Kuala Lumpur as one of the great capitals of Islamic finance, anywhere in the world.
The UK plans to do this through the issuance of an Islamic bond sukuk, worth 200 million GBP by the UK Government which it intends to do as early as next year. It also plans to create an islamic index on the London Stock Exchange for Shariah compliant securities to attract more islamic investors.

“The UK is embarking on this plan, despite the fact that it is a non-Islamic country which illustrates what we have been saying, that Islamic finance, though based on sharia, is a financial product with clear goals and it is accessible to all” he said.


http://www.tribune.com.ng/news2013/index.php/en/news/item/25722-fg-plans-use-of-islamic-bond-to-build-airports,-refineries.html

oluwashaddow: the Bible says my people perish because of lack of vision and I put lack of wisdom aswell,d likes of Qatar,Dubai n d rest build dere country with dis bond n dey are flourishing n many Christians rush dere to make money without any of dem banned from doing deir religion,so I see no reason y Nigeria shouldn't explore such opportunity,y xtrians sef no start Christianity banking?

lovat: There is no diffrence betwwen Islamic loans and other conventional loans. In the normal bank loans interest is stated while in Islamic loan interest is added up with the principal. For example if u want to make a high purchase of a goods worth #30000 in normal banking the goods will be sold with let's say a 10% interest which makes it #33000 while in Islamic banking the cost of the goods for high purchase will go outrightly for #33000. It ll now be spread over to seem as if there is no interest attached to it.

oguash: if this is what will make the economy grow, so be it. one of the problem i have with this Jonathan administration is the tribal and religion divide we have. Ayo oritsejafor and co have greatly succeeded in creating a big divide in this country and if we must grow , we must learn to tolerate one another. Mathew hassan Kuka is a great and shining example an average Christian is to emulate. my problem with dis govt also is that they are always quick to borrow and the money ends up in pocket of a very few politician instead of using it for its purpose.