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Anglican Bishops Kick Against Proposed Islamic Bank - Business - Nairaland

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Anglican Bishops Kick Against Proposed Islamic Bank by chamber2(m): 6:25am On Jun 14, 2011
Bishops of the Dioceses in the Church of Nigeria Anglican Communion have urged the Senate and Federal House of Representatives not to pass any bill that would make the proposed Islamic bank to see the light of the day.

The Anglican Bishop of Enugu, Rt. Rev. Emmanuel Chukwuma who disclosed this to newsmen in Enugu also warned the Central Bank of Nigeria (CBN) not to approve the establishment of the bank, insisting that the emergence of a religious bank would pose serious threat to the unity of the country.

Dr. Chukwuma, the bishops and the Primate of the Anglican Church, Most Rev. Nicholas Okoh, had rejected Islamic bank after their meeting recently, saying that they did so because of its “religious connotation.”

The bishops also argued that the CBN was not constitutionally empowered to establish an Islamic bank, pointing out that the bank would contravene the CBN Act.
Bishop Chukwuma disclosed that the Anglican Church would embark on a protest if the apex bank ignores its position on the issue, warning that they would equally pass a vote of no confidence on CBN if it approves the bank.

He insisted that there was no need to establish an Islamic bank in a multi-religious country like Nigeria, saying that the coming of the bank would only cause confusion in the country.
“Nigeria is not an Islamic country. Islamic bank is unconstitutional because it is not in the CBN Act. We reject the establishment of the bank. It has religious connotation. The Senate and House of Representatives should not pass the bill,” he said.

http://www.sunnewsonline.com/webpages/news/national/2011/june/14/national-14-06-2011-003.html
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Mynd44: 6:42am On Jun 14, 2011
So doe that mean an ANGLICAN BANK will soon be established to BALANCE the equation?
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Pukkah: 6:42am On Jun 14, 2011
Religion, one of the problems of the world.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by hakanai(m): 7:10am On Jun 14, 2011
When even European Universities allow same and alot of students are exposed to the system in modern universities.inshort what is Islamic bank?It entails nothing more than just another bank.With her own ways of banking.If it doesn't suit you,just walk to the numerous existing banks that will make you happy.
Its not a most to use such bank and it is a matter of choice.Since you have mosque and churches.Then i believe this is just a normal thing.If you can go to church without asking for anyone to close the numerous mosque around.then this is non of your business.Stick to the banking/Banks that suit you than stand here and try to deprive others who may like it.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by olawalebabs(m): 7:26am On Jun 14, 2011
I dont understand this news. They dont even want to look at the merit of the system. Sanusi go on jor
Re: Anglican Bishops Kick Against Proposed Islamic Bank by kasiem(m): 7:43am On Jun 14, 2011
As the day goes by, sanusi's bigotry seems to be coming out. In a religious fragile country like ours, sanusi wants to spur the harams to direct their attention into ablazing of banks which doesn't fall into the same line with the islamic banks.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by namfav(m): 8:27am On Jun 14, 2011
if they have islamic banks in england why can't we have in nigeria? what kind of fo0l is this, stoopid priets should always open their mouths about issues that don't concern them
Re: Anglican Bishops Kick Against Proposed Islamic Bank by redsun(m): 8:39am On Jun 14, 2011
because nigeria is too primitve as a society to run a complex system where different beliefs and ideologies coexist harmoniously
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Odunnu: 8:46am On Jun 14, 2011
namfav:

if they have islamic banks in england why can't we have in nigeria? what kind of fo0l is this, stoopid priets should always open their mouths about issues that don't concern them
For once i'l ask you to shut up! SHUT UP! Kai! Dont you have respect for elders? Dont you hope to ever become one in time to come? Cant you pass a message to one with a different view from yours without insults? Whats your problem?
Re: Anglican Bishops Kick Against Proposed Islamic Bank by dempeople(m): 8:53am On Jun 14, 2011
We don't need islamic banks neither do we need to have sharia states in the country. Nigeria should practice core secularism whereby no religion or practice dominates another. These are the sort of factors that're serious threat to the coexistence of the country.

(Not that I'm a champion of such existence without SNC).


@Namfav, those "silly priests" - according to you, are more in tune with the effects of Islamic banking. Have u ever heard of secularism? Secularism is wonderful.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by namfav(m): 9:03am On Jun 14, 2011
Odunnu:

For once i'l ask you to shut up! SHUT UP! Kai! Dont you have respect for elders? Dont you hope to ever become one in time to come? Cant you pass a message to one with a different view from yours without insults? Whats your problem?

sorry but what he said is offensive and damaging ,i don't see how it helps the country

dem_people:

@Namfav, those "silly priests" - according to you, are more in tune with the effects of Islamic banking. Have u ever heard of secularism? Secularism is wonderful.

in alot of states in the north you will find alot of insurance services, cash loans services etc., all haram but we don't have a fatwa for them because the cater for the southerners there, that is secularism
Re: Anglican Bishops Kick Against Proposed Islamic Bank by olawalebabs(m): 10:35am On Jun 14, 2011
Why dont we allow objectives argurment for once, if Sharia banking is the best, lets go for it. Atleast it work well in Dubai and other islamic state
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Dansy(m): 1:40pm On Jun 14, 2011
The problem of religion is a serious problem. Cbn should be stop from going to establish lsmalic bank. I do not share the view of sanusi. Nigeria is a multi religon country. We do not want it or need it
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Pukkah: 2:08pm On Jun 14, 2011
Dansy:

The problem of religion is a serious problem. Cbn should be stop from going to establish lsmalic bank. I do not share the view of sanusi. Nigeria is a multi religon country. We do not want it or need it
dem_people:

We don't[b] need[/b] islamic banks neither do we need to have sharia states in the country. Nigeria should practice core secularism whereby no religion or practice dominates another. These are the sort of factors that're serious threat to the coexistence of the country.


You might say you don't want it but you guys or rather your economy needs it. Sentiments aside, there are so many businesses that stand to benefit from the basic offerings of Islamic Banking or non-interest banking. However, the Nigerian space has been polluted so much that every issue is hardly looked at from a merit point of view except through the narrow lenses of religion, tribe, etc. Do you know that this product was part of Soludo's plan?

This is why I commented earlier that religion (especially its blind application), rather than provide succour to mankind, has become one of the problems facing the human race and a covert factor in so many of its wars. My guess is that when/if the world will come to an end, it would be as a result of several factors culminating from religious/tribal suspicion/intolerance. undecided

I advise that Christians and Muslims in Nigeria should grow up and separate the wheat from the chaff instead of throwing the baby away with the water everytime. Surely, there are certain commendable practices from either side which can be useful to the society at large. Although this may be difficult to practice due to age-old mutual suspicion between the two major, albeit foreign, religions in Nigeria.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Pukkah: 2:20pm On Jun 14, 2011
dem_people:

We don't need islamic banks neither do we need to have sharia states in the country. Nigeria should practice core secularism whereby no religion or practice dominates another. These are the sort of factors that're serious threat to the coexistence of the country.

(Not that I'm a champion of such existence without SNC).


@Namfav, those "silly priests" - according to you, are more in tune with the effects of Islamic banking. Have u ever heard of secularism? Secularism is wonderful.

@dem_people,

Given the current psyche of Nigerians, it is going to be very difficult to implement your suggestion. Some of the implications which readily come to mind are:

1. Remove 'so help me God' from the National Pledge. (Some people are atheists you know or really don't want to be bothered).
2. Remove 'O God of creation' etc from the National Anthem.
3. Scrap all religious holidays or declare holidays for all religions apart from Islam and Christianity.
4. Stop using Bibles and Qurans to swear in public officials.
5. Public officials should stop attending churches/mosques for national activities or a public official 'endorsing' a particular religion. Remember the image of GEJ kneeling in front of Pastor Adeboye?
6. And so on

Some of these implications would be quite chaotic or leave the people 'feeling' empty. It is something that will come with time or that greater economic prosperity will lessen.

Even before the implementation of full secularism, you need to know the kind of passion that some people exhibit when you tell them that it's wrong for religious activities on expressways to disturb others. How about use of loudspeakers in churches and mosques? Have we been able to implement this?
Re: Anglican Bishops Kick Against Proposed Islamic Bank by mbulela: 2:35pm On Jun 14, 2011
Can't we just discuss without spreading insults around the whole place?
before the thread is hijacked by ethnic and religious bigots can someone describe Islamic banking in a bit of details?
Re: Anglican Bishops Kick Against Proposed Islamic Bank by daroz(m): 2:49pm On Jun 14, 2011
I really want somebody to educate me on the features of this islamic banking and its advanges, pls. Despite it sounds bombatic, it may have some attractive advantages.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by otitokoro1: 3:14pm On Jun 14, 2011
I feel this man should face the primary assignment that Jesus gave to us all EVANGELISM rather than coming up with sentiment.  What has Banking got to do with religion,  at least there is choice of other commercial banks.  Let us shun this hypocrisy.  As long as Central Bank is not to be replaced what is the problem?

ALl this popes grin grin grin
Re: Anglican Bishops Kick Against Proposed Islamic Bank by 9javoice1(m): 3:32pm On Jun 14, 2011
why are we fighting for noting? did north east and north west sought for our aproval before they make their region an islamic one? the ans is no. why is sls looking for our aproval before someone will open an islamic bank? the ans is "secret motive".
if a muslim man wana open a bank an operate it in islamic way but must meet the cbn requirements then "carry go". but if sls is planing for an islamic bank finance thru the national purse then he must be stupid.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by 9javoice1(m): 3:40pm On Jun 14, 2011
islamic banks cannot stand a year in nigeria without going babkrupt. unless its been finance tru national purse.
why can't ibb and atiku join hand and do it or even dangote and dantata. they know they won't survive that's why they keep off and here is sls want us to feed almajaris from the national purse.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Nobody: 3:43pm On Jun 14, 2011
An Islamic bank is less of an affront to the secularism of Nigeria than sharia. You can choose not to use an islamic bank, but it's a lot harder to pack your bags and leave because you've suddenly found yourself under some rules that are alien to your own beliefs.
If sharia cannot tear Nigeria apart, I doubt if an islamic bank will.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Pukkah: 3:43pm On Jun 14, 2011
daroz:

I really want somebody to educate me on the features of this islamic banking and its advanges, pls. Despite it sounds bombatic, it may have some attractive advantages.

The basic principle of Islamic banking is the sharing of profit and loss as opposed to charging of usury (interest).  For example, when it comes to the profit from the financing of a project, the financier and the beneficiary share the actual or net profit/loss rather than throwing the[b] risk burden[/b] only to the entrepreneur. In other words, if a financier is expecting a claim on profits of a project, he should also carry a proportional share of the loss of that project.

One of the salient characteristics of Islamic banks is the integration of ethical and moral values with its banking operation. The ethical and moral consideration of Islamic banks cannot be detached and their behavior are consistent with the moral and ethical standards laid down by the Islamic Shari’ah (irrespective of whether or not such goods and services, e.g. casinos, etc are legal in a given country). Personally, I think this is where some people have issues.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by 9javoice1(m): 3:46pm On Jun 14, 2011
let the emire's and northern kings feed almajiris, we refuse any indirect way to feed them via national treasury.

islamic banking is wonderful oh thanks goodnes for that but let individuals finance it not national.
even in britain and some secular state u find it, its been finance by individuals not government.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Nobody: 3:50pm On Jun 14, 2011
9ja voice:

let the emire's and northern kings feed almajiris, we refuse any indirect way to feed them via national treasury.

islamic banking is wonderful oh thanks goodnes for that but let individuals finance it not national.
even in britain and some secular state u find it, its been finance by individuals not government.

I think what they need here is an approval, not financing.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by 9javoice1(m): 3:52pm On Jun 14, 2011
Can someone answer me this one question. how will the bank be financed?
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Pukkah: 3:52pm On Jun 14, 2011
9ja voice:

islamic banks cannot stand a year in nigeria without going babkrupt. unless its been finance tru national purse.
why can't ibb and atiku join hand and do it or even dangote and dantata. they know they won't survive that's why they keep off and here is sls want us to feed almajaris from the national purse.

Who says? Please note that Islamic banking is not for only Muslims. I won't even mind their basic principle: give me money and share my profit/loss with me.  I guess I don't mind because I'm not a religious bigot.  I don't care if you call it Amadioha or Sango or Jesus or Muhammad Bank, just give me quality services. The Bank is not and should not be supported by the government.  They will be licensed as full business enterprises trading with their own capital and having their own profit targets. You can even render this service without calling it Islamic Banking.

Do you know that many international banks like HSBC, Citigroup, Standard Chartered, etc have Islamic Banking arms?  Are they making losses?  Call it any name, it is a service and there is a need for it among many businessmen in Nigeria.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Nobody: 3:53pm On Jun 14, 2011
The present banking system encourages usury especially in banks like Uba that are out to suck customers dry with their ghost charges. . .I'm sure islamic banking is going to be a threat to Nigeria banks.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Nobody: 3:57pm On Jun 14, 2011
~Bluetooth:

The present banking system encourages usury especially in banks like Uba that are out to suck customers dry with their ghost charges. . .I'm sure islamic banking is going to be a threat to Nigeria banks.

Knowing Nigeria, who says a Mohammed will not be favoured over a Michael is such a bank?
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Pukkah: 3:58pm On Jun 14, 2011
9ja voice:

Can someone answer me this one question. how will the bank be financed?

The Bank is expected to have its private promoters/shareholders and can choose to raise further capital through private placement, IPO, etc.  Remember Jaiz International Plc?  The outfit was incorporated in 2003 as an investment holding company for an Islamic Bank. They were even planning to attract FDI (Foreign Direct Investment) into the country.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Pukkah: 3:59pm On Jun 14, 2011
Aigbofa:

Knowing Nigeria, who says a Mohammed will not be favoured over a Michael is such a bank?

You have a point but why can't a Michael start an Islamic Bank?
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Nobody: 4:01pm On Jun 14, 2011
Pukkah:

You have a point but why can't a Michael start an Islamic Bank?

You have a point as well.
Re: Anglican Bishops Kick Against Proposed Islamic Bank by Pukkah: 4:12pm On Jun 14, 2011
~Bluetooth:

The present banking system encourages usury especially in banks like Uba that are out to suck customers dry with their ghost charges. . .I'm sure islamic banking is going to be a threat to Nigeria banks.

Of course yes.  This is because all things being equal, an open-minded non-Muslim businessman is not likely to mind where he's getting project funding from.

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