Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,166,367 members, 7,864,699 topics. Date: Wednesday, 19 June 2024 at 01:56 AM |
Nairaland Forum / Nairaland / General / Business / 8 In 10 Muslims Don’t Use Conventional Banks – World Bank VP (407 Views)
More Than 60 Million Nigerians Are Unbanked – World Bank / Stanbic IBTC: Headline PMI Accelerates To 58.8 In March, From 56.0 / World Bank Says Nigeria Will Soon Recover From Economic Recession (2) (3) (4)
(1) (Reply)
8 In 10 Muslims Don’t Use Conventional Banks – World Bank VP by adewales4: 5:05pm On Oct 07, 2016 |
The World Bank says eight in 10 Muslims do not use conventional banking systems — a practice that emphasises the need for Islamic Banks. Speaking at the World Bank Headquarters in Washington, Arunma Oteh, vice president and treasurer of the Bank, said growing products in Islamic finances are capable of closing the huge financial gap that exists in the Muslim world. Discussing Islamic finance at the World Bank/Islamic Financial Services Board high level seminar, Oteh said less than 20 percent of approximately 1.6 billion Muslims population use conventional banking worldwide. “The growth of Islamic finance is critical in closing this gap,” she said, adding that the statistic is scary. “In some cases, people will like to access financial services but they are unable to do so because of factors that are prohibitive to their faith or lack of financial institutions near their area or lack of trust of financial service providers “Many Muslims around the world refrain from actively accessing the conventional financial services around the world due to their beliefs. “Islamic finance is uniquely well-suited to promote infrastructure development, which is critical in promoting many of the SDGs from clean water to energy.” Muhammad Sanusi II, the Emir of Kano, who also spoke at the event, said deficient infrastructure cost in Africa shaves the continent’s growth by two percent annually. He estimated the cost of closing this infrastructure gap estimated at $360billion between 2011 to 2014. According to Sanusi Islamic finance facilities can be used in funding various social projects such as immunization projects, education and green energy. He said with the growing Islamic finance, there is strong potential in closing the huge gap and there is no doubt that the need to explore all alternative in funding the SDGs is critical. Source: http://latestnigerianews.com.ng/8-in-10-muslims-dont-use-conventional-banks-world-bank-vp/ |
Re: 8 In 10 Muslims Don’t Use Conventional Banks – World Bank VP by DIFY20(f): 5:27pm On Oct 07, 2016 |
I love my Igbo women spirit... They are always bold in their words.. From ngozi okonjo to oby ezekwsiri to chiamamda adeche to late Dora akuyiri may her soul rest In peace to aruma oteh ...etc Igbo women are the best. Very strong specie |
Re: 8 In 10 Muslims Don’t Use Conventional Banks – World Bank VP by talk2hb1(m): 6:48pm On Oct 07, 2016 |
Interesting!!! |
(1) (Reply)
Build Your Sales Pages, Blogs And Website (november Bonus) / Samsung Recalls 2.8m Washing Machines / Gr8jobsng Launches PROJECT EMPLOY!
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 8 |