[size=16pt]i blame sanusi for this, he didn't even carry out an enlightenment campaign before embarking on this venture.
@ all, you guys should may be do a little reading on islamic banking before you comeback to criticize. This is another business opportunity and means of creating employment for thousands if it works out. You'll be suprised at the end of the day that 80% of the staff employed would be christians. Billions of dollars of investment from the middle east could be realised if you all don't know. I think Sanusi should carry out a full scale enlightenment campaign so this business opportunity is not missed[/size]

maclatunji:

No muslim in Nigeria should have any business with poverty.

But muslims are by far the poorest Nigerians, no?

Let them get the financial upliftment they need from their sharia banking.

we ve christain / islamic universities, schools and NGOS, so wat all these fuss about islamic banking? is like Nigeria christains are becoming more extremist towards the Islamic religion than I though

13volts:

we ve christain / islamic universities, schools and NGOS, so wat all these fuss about islamic banking? is like Nigeria christains are becoming more extremist towards the Islamic religion than I though

Yes you need xtian extremism to checkmate boko Haram. You guys have taught us so many lessons.

J12:

There's nothing wrong introducing this sort of banking in Nigeria. They are not forcing you to change your religious values or trying to "Islamize" Nigeria. If you don't want to bank with them, then don't.

It is indeed shameful that in a nation with the potential to be a dominant global force people allow their egos, religious and personal, to prevent peaceful approaches to national issues - it is always my way or the highroad. Everybody is focused on their part of the giant elephant called Nigeria - it is a snake, no it is a big tree, ah ah you are both wrong it is a fan of great proportions, but you are all wrong this is certainly a hill!!!

The issue is not whether Nigeria should introduce a form of Islamic Banking or not, but which type is best for the common good of all Nigerians. The Islamic Banking practiced in Europe, which fortunately is the version being referenced by Mr. maclantunji below is what is desirable. Instead our zealot CBN governor is imposing the auto-theocratic versions out of Iran, Saudi Arabia and the like by incorporating religious provisions into the system.

The danger is that of Boko Haram.  Although these people are allowed to send their wards to Islamic schools they have decided that conventional education is Haram wherever/whoever it may concern, with the next action being a campaign of bombings that is slowly consuming the nation. How can a sane person in or out of government start creating just such a potentially explosive situation even as the Boko Haram disaster has moved to Abuja?

If you doubt that this Islamic Banking is for religion's sake, then look at what Mr. maclantunji sees as the usefulness of Nigeria's Islamic Bank - enabling the collection of zakat!!!!!!!!

My recommended solution has always been that the CBN allows both his version of Islamic Banking and the type of non-interest banking practiced in Europe - in which case the so-called Sharia compliant banks will amount to nothing more than a cottage industry. The sole imposition of Sanusi's Islamic Banking version will achieve nothing more than religious ends - which really has nothing to do with God but a cover for wealth diversion in the rottenly corrupt theocratic systems being run by these hypocrites worldwide.

maclatunji:

No muslim in Nigeria should have any business with poverty. Now with Islamic banking we can begin to implement proper Zakat collection and distribution. Those that want to burst their jugular vein with hypertension because of it are free to do so, it will not change a thing. There are many people who are willing to take muslim money without qualms, ask Manchester City Football Club if you are in doubt.

In other words you want to take the interest rate out of the banking system, but you will impose a 2.5% zakat. Essentially a tax to be distributed to people who do not contribute to the enterprise in any way. How is that different from interest-banking? Knowing Nigeria your zakat on Islamic Banks is going to be at least 10 percent - 7.5% has to be lost to corruption along the way.

An intellectual like sanusi should have to do better than that. Using name dropping in an argument is too pedestrian. Hiding the religion of d subject on a religious-tending argument makes it deception. Sanusi seems to be notching up points on half truths and deception. Signs of an agenda.

Ibo investing in Islamic bank ? I hope all our ibo on nl will definitely patronize them !

~Bluetooth:

Ibo investing in Islamic bank ? I hope all our ibo on nl will definitely patronize them !

Adegbite also invested. Ode!!!

Isn't it weird that an ibo man is supporting such when he knows that his kinsmen in iboland won't support Islamic banking ? As for your info,there is no big deal if Adegbite supported it cuz a lot of Yoruba Muslim will actually support it.so worry about your okoro brother.olodo

Nowt bad about it

More worried bout the stealth? islamization.

Nigeria is a secular state with no current domineering religion

But then first it was OIC
Sharia followed
now Islamic banking

all this is bound to alienate some individuals.
So what are the tenets of Islamic banking then?

Least a consultation with the masses would surely ease some minds 

~Bluetooth:

Isn't it weird that an ibo man is supporting such when he knows that his kinsmen in iboland won't support Islamic banking ? As for your info,there is no big deal if Adegbite supported it cuz a lot of Yoruba Muslim will actually support it.so worry about your okoro brother.olodo

That Igbo man happens to be a muslim who lives in northern nigeria with no presence in igboland? So what?

ZnO:

That Igbo man happens to be a muslim who lives in northern nigeria with no presence in igboland? So what?

Lwkmd

So an ibo man who lives in the north and is also a muslim is no longer an ibo man abi ? Maybe all those ibos in Lagos are
not to be seen as ibo but Yorubas too ! See how daft you are !

~Bluetooth:

Lwkmd

So an ibo man who lives in the north and is also a muslim is no longer an ibo man abi ? Maybe all those ibos in Lagos are
not to be seen as ibo but Yorubas too ! See how daft you are !

Mumu
Sharia Bank is for muslims, irrespective of tribe.
Did that[b] Igbo [/b]man invest in the bank because he is [b]Igbo [/b]or because he is muslim? Why not show me one non-muslim among the investors in the link

You be proper aturu (sheep).

I have no problem with Islamic banking. I know it will serve the interest of Muslims, so what?

Let Christians start their own "interest free" banking. if they want. BTW, am not a Muslim.

But my question is: are their loans really interest free or the interest is only called another name?

If they dont charge interest, how do they make profit, pay staff salaries and maintain the bank?

I had believed that the bow-tie (Allan Greenspan style?) wearing whizz-kid from Kano would first make Nigerians learn to crawl before they run – modern day banking-methods wise. Why the hurry? Who is he trying to impress? Certainly, it is not the economic and or monetary interest of the itinerant Fulani herdsman. Who is he trying to hurt, essentially, the Dugbe, Balogun and Onitsha market mammy? As it now appears, what Sanusi’s mission is at the CBN can’t be reform. It is politics, in favor of Hausa-Fulani Islamic agenda pure and simple.

But, it looks like we can’t get a surfeit of Islam-induced headaches in modern Nigeria: Yesterday it was the election-induced riots which claimed more than 600 lives of innocent Nigerians because a Christian defeated a northern favored Moslem. Today, it is a Boko Haram onslaught from one side and the civilized approach of Mallam Lamido Sanusi and his concerted efforts to Islamize the CBN on the other. While the northern youths and its share of the Nigerian unemployed gangs are the executors of most of the religious crises which origins are northern Nigeria, northern Nigerian Islamic elites are very often, the think tank.

koruji:

It is indeed shameful that in a nation with the potential to be a dominant global force people allow their egos, religious and personal, to prevent peaceful approaches to national issues - it is always my way or the highroad. Everybody is focused on their part of the giant elephant called Nigeria - it is a snake, no it is a big tree, ah ah you are both wrong it is a fan of great proportions, but you are all wrong this is certainly a hill!!!

The issue is not whether Nigeria should introduce a form of Islamic Banking or not, but which type is best for the common good of all Nigerians. The Islamic Banking practiced in Europe, which fortunately is the version being referenced by Mr. maclantunji below is what is desirable. Instead our zealot CBN governor is imposing the auto-theocratic versions out of Iran, Saudi Arabia and the like by incorporating religious provisions into the system.

The danger is that of Boko Haram.  Although these people are allowed to send their wards to Islamic schools they have decided that conventional education is Haram wherever/whoever it may concern, with the next action being a campaign of bombings that is slowly consuming the nation. How can a sane person in or out of government start creating just such a potentially explosive situation even as the Boko Haram disaster has moved to Abuja?

If you doubt that this Islamic Banking is for religion's sake, then look at what Mr. maclantunji sees as the usefulness of Nigeria's Islamic Bank - enabling the collection of zakat!!!!!!!!

My recommended solution has always been that the CBN allows both his version of Islamic Banking and the type of non-interest banking practiced in Europe - in which case the so-called Sharia compliant banks will amount to nothing more than a cottage industry. The sole imposition of Sanusi's Islamic Banking version will achieve nothing more than religious ends - which really has nothing to do with God but a cover for wealth diversion in the rottenly corrupt theocratic systems being run by these hypocrites worldwide.

In other words you want to take the interest rate out of the banking system, but you will impose a 2.5% zakat. Essentially a tax to be distributed to people who do not contribute to the enterprise in any way. How is that different from interest-banking? Knowing Nigeria your zakat on Islamic Banks is going to be at least 10 percent - 7.5% has to be lost to corruption along the way.

Awwwwww, such beautiful falsehood you wrote while I was away. Islamic banking is not basically about Zakat collection (I sold you a bait and you got hooked). Zakat collection will just be a value-added service. First bank collects for Federal Inland Revenue Service (FIRS) does that mean it is the FIRS? Now, here is the deal:

We are not in an Islamic State but we have a large Muslim community. In an Islamic State, Zakat is compulsory tax to be paid by wealthy Muslims who reach the stipulated threshold which is called Nisab. In a state that is not Islamic in nature, the Muslims are duty bound to organize themselves in such a manner that the wealthy amongst us who have reached the threshold for collecting Zakat do so voluntarily. Then it will be distributed amongst poor muslims, there are very few exceptions where Zakat may reach the hands of non-muslims but it is not really meant for that purpose.  Obviously, as you have shown us, non-Muslims in interest based financial institutions have no idea what this is all about. However, with the coming of Islamic banks, Muslims with the adequate knowledge can take-up the challenge and make Zakat collection and distribution an easy and transparent process within the Muslim community, so that people like Dangote and Co. can start doing their religious duty. I am not here to hold your hand and guide you through what you obviously detest. I would advise you though to follow this gentleman's advice:

edoyad:

[size=16pt]i blame sanusi for this, he didn't even carry out an enlightenment campaign before embarking on this venture.
@ all, you guys should may be do a little reading on islamic banking before you comeback to criticize. This is another business opportunity and means of creating employment for thousands if it works out. You'll be suprised at the end of the day that 80% of the staff employed would be christians. Billions of dollars of investment from the middle east could be realised if you all don't know. I think Sanusi should carry out a full scale enlightenment  campaign so this business opportunity is not missed[/size]

And let me venture to add that the ladies would not be forced to become courtesans or the man become sugar-mummy playthings so that their Bank Executives can buy Private Jets and Islands for themselves as they have been doing with the money raised by their sometimes helpless staff through "aggressive marketing".

@Koruji, let us assume that Muslims form at least 40% of this country (I know we are far more than that). Islamic Finance (not just banking) will pull the majority of this sub-set of Nigeria out of poverty. If you have a problem with that, then I suggest you see the doctor ASAP.

For those who want to genuinely learn more about some of these Islamic Financing Concepts, these links should be very helpful (You see Wikipedia owned by non-muslims details all of this, I am sure if it was owned by some Nigerians they would delete these entries- they have so much hate for Islam, sad!):

http://en.wikipedia.org/wiki/Zakat

http://en.wikipedia.org/wiki/Islamic_banking

Koruji, I now know where your problem lies. For you, religion is a clothe you can wear and take-off at will.  However, for a Muslim who understands the religion, it is his skin, you take-off his skin and he is as good as dead. Once you truly understand this, you will sleep better by understanding the religion and not misinforming not-so-exposed muslims that they are worthless and no good. You know why? They end-up believing what you have taught/told them and come back to haunt you.

Let us work with true knowledge and not pseudo-intellectualism.

“ Sanusi should please be advised not put the nation into another avoidable distraction and dangerous crises. We call on the president not to wait until trouble begins before acting,” he said.[i][/i]


Look at what a so called man of god saying. He should be arrested to answer questions on his plan to cause crises just because of Islamic Banking.

Dandabai:

“ Sanusi should please be advised not put the nation into another avoidable distraction and dangerous crises. We call on the president not to wait until trouble begins before acting,” he said.[/i]


Look at what a so called man of god saying. He should be arrested to answer questions on his plan to cause crises just because of Islamic Banking.

Why should there be a crisis? Muslims have been boycotting Alcoholic drinks from Nigerian Breweries and Guinness for years. If you do not like Islamic banks, you are free to avoid them by all means and be [i]vewy vewy quiet (I am feeling like Elmer Fudd this morning).

Igbo man ke, yoruba man ni, who is he trying to deceive here?

That was the same way they smuggled us into OIC

We close our offices on Sundays, ( Christian day of worship and rest) we use the Christian calendar ( based on the birth of Christ) , English- a Christian language is our language of communication and indeed our beloved national language but strong feelings arise when an interest free banking( practiced in many Christian and non - Christian countries world wide) is being introduced alongside other forms of banking!! Simple reason - the word Islamic is used in it's description. Would you call this intolerance ? Would it help if we call the existing form of baking " Christian Banking"? Then we can have both and available to all by choice?
.

In as much as u say interest free loan, then they should quickly open theIr office am waiting, the one's run by christians are killing the people and business with so much interest rate being charged, after which they steal the bank dry, e.g. akingbola, cecilia ibru, let them open and see how many igbo brothers will ruch down there to borrow money for their buzz.

Why did sanusi say even an Igbo man invested? Why didn't he say a yoruba man invested? He said it to imply that a christian invested when in fact the guy is a muslim. I am a christain but haven't seen anything wrong with non interest banking. If it favours me, I will bank with them.

koyaabj:

In as much as u say interest free loan, then they should quickly open theIr office am waiting, the one's run by christians are killing the people and business with so much interest rate being charged, after which they steal the bank dry, e.g. akingbola, cecilia ibru, let them open and see how many igbo brothers will ruch down there to borrow money for their buzz.

Write with sense and not with senseless skull

Sanusi's mention of an Igbo man(if he did) investing in the bank is highly misleading and demeaning.
What for?
An Igbo man is no longer a Nigerian?
Oh Yes! it is obvious that the East is the only section of the country acclaimed to be predominantly christians.
If that was his basis of stating a tribe, could he not at the same time have mentioned the name of the person?
Abdulazeez? That sounds like a taboo in the East for a true son to bear such a name.I am not being ridiculous.
The first time I heard about that name was in 1992.The man, if you care to know is from Abor in Udi LGA of Enugu State.My informant then told me that Ude's mother, a devout catholic refuses all the 'goodies' Ude was bringing to her.
At her advanced age she still treks to Catholic Women meetings in the neighbouring villages while drivers sent by Ude will be following her begging to carry her.
That was the last I heard about the man and the numerous truck-loads of cattle he brings home during festivities to lure young men and women into Islam.

Please let Sanusi and his defendants look for a more intellectual way to defend Islamic banking and not using Ude.
Abdulazeez Ude my foot!

nagoma:

We close our offices on Sundays, ( Christian day of worship and rest) we use the Christian calendar ( based on the birth of Christ) , English- a Christian language is our language of communication and indeed our beloved national language but strong feelings arise when an interest free banking( practiced in many Christian and non - Christian countries world wide) is being introduced alongside other forms of banking!! Simple reason - the word Islamic is used in it's description. Would you call this intolerance ? Would it help if we call the existing form of baking " Christian Banking"? Then we can have both and available to all by choice?
.

Maybe Friday should be reserved for Muslims too.anyways if the conventional banking system doesn't suits you,switch to Islamic banking ! There is no compulsion is it but I don't know why some people are knocking themselves off over this.smh

http://www.google.com.ng/url?sa=t&source=web&cd=6&ved=0CEsQFjAF&url=http%3A%2F%2Fwww.awb.tu-berlin.de%2Fbbhd%2Ffiles%2F4%252013-08-2008%2520Egodi%2520Uchendu.pdf&ei=LkcIToSqEIGWOpmQ1dEN&usg=AFQjCNEDwuvmPCYaSoLjUbzmPHiKjw6xcg


EGODI UCHENDU (2010). BEING IGBO AND MUSLIM: THE IGBO OF SOUTH-EASTERN NIGERIA AND CONVERSIONS TO ISLAM, 1930s TO RECENT TIMES. The Journal of African History, 51, pp 63-87 doi:10.1017/S0021853709990764

OAM4J:

I have no problem with Islamic banking. I know it will serve the interest of Muslims, so what?

Let Christians start their own "interest free" banking. if they want. BTW, am not a Muslim.

I'll rather fly the world in my private jets!

thats why I said we are still behind;a government official campaigning for the incorporation of nonsense.

Our country will never grow if we are still very sensitive on religious issues. For God sake Islamic Banking is not a new phenomenom in most developed economies, its just a profitable and convenient way of doing banking and providing financial services to people and organisation. People should research before criticising blindly. Islamic banking exist in countries like United Kingdom, USA, and emerging economies like Malaysia, Indonesia. Its success in these countries have been massive. Banking in an Islamic bank will not change your faith, its not even compulsory for anyone to bank there its a matter of choice, so why all the "Islamic Agenda" arguements? Most developed countries are where they are today cos they dont have any issues with religious matter. Islamic Banking is an opportunity to grow our economy, which will help SME to access loans without having to pay high interest rate, which will help them to finance their business through cheaper loans and finances.

ikenna bru:

thats why I said we are still behind;a government official campaigning for the incorporation of nonsense.

Try operating a current with UBA and you will know what nonsense really is.i see nothing wrong with an interest-free banking system which will even be more beneficial to paupers like you !

A little bit of research won't hurt anybody.We're on the internet, we might as well go on wikipedia and read up the whole islamic banking thing and stop all the religious/tribal thing.
i've checked the whole thing out and it does make sense regardless of what anybody thinks.Even the vatican verifies that.