http://tribune.com.ng/index.php/news/25572-muslim-leaders-vow-to-defend-islamic-banking
Written by Hassan Ibrahim, Kaduna
Monday, 25 July 2011

MUSLIM leaders in their hundreds, under the aegis of the Supreme Council for Shari’ah in Nigeria, in Kaduna, on Sunday, said they would defend Islamic banking in Nigeria with the last drop of their blood.

They said since interest free banking was successfully practised in the United Kingdom (UK) and other Christian dominated countries, they would resist any attempt by the Christian Association of Nigeria (CAN) to frustrate the implementation of the banking system in Nigeria.

Speaking at a press conference shortly after their meeting at the Arewa House, Kaduna, the national president of the Supreme Council for Shari’ah in Nigeria (SCSN), Dr Ibrahim Datti Ahmed, warned that Muslims in the country would no longer keep quiet and allow others to blackmail the interest-free banking about to commence in September.

According to him, in England, it was called Islamic Bank of Britain, but in Nigeria, it was called Jaiz Bank, saying it was unfortunate that a section of the Christian community took offence with the name and had been making all sorts of negative comments against the Muslims.

Datti said in spite of the blackmail and mischief against the bank, Jaiz Bank had come to stay and would commence operation with three branches in Abuja, Kaduna and Kano before other branches would subsequently follow suit.

Commenting o the post-election crisis, they said the crisis was believed to have been pre-planned and pre-meditated in southern Ka-duna, well ahead of election.

“This reality is supported by the fact that Southern Kaduna Muslims were massacred on Sunday, even before the election results were announced. Whatever happened was a reaction thereto,” he said.

The Muslims faulted the way the crisis was managed by the federal and state governments, alleging that curfew was ruthlessly clamped down on the northern part of the state, while the southern part went scot free.

“The refugees were left to cater for themselves. In fact, most of them were compelled to leave the camp. The government must restore people’s freedom, compensate them fully and return them to their homes,” he said.

The group called on the Joint Task Force (JTF) to operate within the ambit of law and urged the Federal Government to respect the wishes of the elders and leaders of Borno State and withdraw the JTF soldiers, in order to pave way for genuine resolution of the Boko Haram problem.

Commenting o the post-election crisis, they said the crisis was believed to have been pre-planned and pre-meditated in southern Ka-duna, well ahead of election.

“This reality is supported by the fact that Southern Kaduna Muslims were massacred on Sunday, even before the election results were announced. Whatever happened was a reaction thereto,” he said.

The Muslims faulted the way the crisis was managed by the federal and state governments, alleging that curfew was ruthlessly clamped down on the northern part of the state, while the southern part went scot free.

“The refugees were left to cater for themselves. In fact, most of them were compelled to leave the camp. The government must restore people’s freedom, compensate them fully and return them to their homes,” he said.

The group called on the Joint Task Force (JTF) to operate within the ambit of law and urged the Federal Government to respect the wishes of the elders and leaders of Borno State and withdraw the JTF soldiers, in order to pave way for genuine resolution of the Boko Haram problem.

Negro_Ntns:

When Sharia was instituted few years ago it was only possible so because the boss (Obasanjo) dropped the ball.

If Gej drops the ball Islamic bank will be institued, not because Moslems supports it but because he "enabled" it.

Negro_Ntns:

Koruji,
Let's be serious, the attention and blame is wrongly placed.
Who is Sanusi's boss?

Let those wearing cassocks stop disturbing our peace. Gentlemen (journalists), being peaceful doesn’t mean we are cowards. We warn them to stop disturbing our peace if they want us to live together in Nigeria. Everybody can go his way; we don’t have to live together. We can’t live under people dictating to us how we should live our lives even within the laws of the country.

http://www.sapphirecapital.proboards.com/index.cgi?board=islamfinance&action=display&thread=2796
Nigeria: Jaiz Islamic Bank to Start Operations

Yunus Abdulhamid and Abubakar Buba

The Managing Director of JAIZ International Bank Alhaji Mohammed Mustapha Bintube has said that the bank will now commence full operation in Nigeria before end of the year.

He said the delay to begin operation was occasioned by change of policy by the Central bank of Nigeria where the minimum capitalisation for a bank was raised to N25 billion from N2.5 billion, lack of commitment on the part of Nigerian investors and more recently, the global economic meltdown. He also identified the absence of a regulatory frame work by the CBN as part of the cause.

Bintube said this yesterday while delivery a paper titled, "World Economic Meltdown: Islamic Perspective/Solution" at a public forum organised by the Muslim Media Practitioners of Nigeria (MMPN) in Abuja.

The Jaiz Bank was incorporated in 2003 in Nigeria to operate the Islamic banking option which provides non-interest financial services but six years after, it is still struggling to find its feet.

According to the Jaiz boss, "It is our collective failure and distrust in the system that Jaiz has not taken off after many years of working. We have had several international intended investors who came to do market surveys and at the end, they noted that Nigerians are rich enough to do it. If they can't do it, why should we invest in it', they used to ask."

He however said that with the release of the regulatory frame work of Islamic banking by the CBN last week, all was set for the bank to commence full commercial operation as soon as possible.

Speaking further, Bintube blamed the present global economic meltdown on "unbridled mortgage loans to make money especially in America and Europe, imprudent lending by banks ,financial derivatives and speculation which equals gambling abhorred by Islam while regulators watched the other way.

He said Islamic banking thrive on buying and selling, a pure moral and ethical business transactions devoid of interest and speculation wrecking the world economy today.

"A society where there is no gambling, alcohol, and prostitution is the type Islam seeks to project and not imaginary profit. It also seeks to project greater justice in human society as without justice, the society declines and leads to self destruction," he said.

He called on the Nigeria government to double its effort if it must attain its dream of becoming one of the 20th most developed economy in the world by years 2020, saying achieving that means beating South Africa and Egypt which currently lead Africa economically and they both have Islamic banks which are non interest based.

Meanwhile, former deputy governor of the Central Bank of Nigeria (CBN) Dr. Obadiah Mailafia has called on the Nigeria's apex bank to create a department for the shariah banking option which provides for non-interest regimes in the financial sector.

He said doing so will help empower the people intellectually as well as provide adequate regulatory framework for operators coming up with such financial options.

He said, "CBN can do more to open a department of Islamic banking to train and educate people. It will promote investment in the country also."

Obadiah said this yesterday while making remarks at the public lecture organised by the Muslim Media Practitioners of Nigeria (MMPN) in Abuja on the "Global Economic Meltdown: Islamic Perspective and Solution."

He noted that the financial crisis experienced today stemmed from the failure of the United States of America to maintain its position as the world banker of the last resort, saying that the practice of spending $1 billion a day by former president Bush's administration added further strain to its system.

"Apart from the sub-prime lending in the mortgage industry and corruption in the America financial system, the America crisis of hegemony is also responsible. We are in a digital age where various options should be open to people. It is not only the Muslims that want it. Everyone wants his money kept safe and safety seems to have eluded today's transactions."

"We need more transparent banking, more transparent central banking and regulations," he said.

Read more: http://www.sapphirecapital.proboards.com/index.cgi?board=islamfinance&action=display&thread=2796#ixzz1T5A68nyU

jmaine:

Another interesting quote below . . . The Sharia council full blast is on the punch website . . . http://punchng.com/Articl.aspx?theartic=Art201107252441462

They have being the one doing the exact thing with their sharia laws and demands . . .

There can be aspects of it that non-moslems will regard as discriminative.  But that's general, I can respond more satisfactorily if you narrow it down to maybe top five suspects.

I also want to share that we be careful in the choice of words and the meaning in content, not necessariy the definition of the word, but rather the social applicatiuon of the word. Discriminate will infer that people are turned away who ordinary qualify. So for example we all know that an Islamic should not and will not loan money to invest in a beer parlour. That category does not ordinarily qualify and so if someone's application was rejected on that basis, is that discrimination?

Some people will say yes.

Of course I support Islamic bank any day. It is the cleanest and most community friendly bank there is. Look, political leaders are talking about environmental friendly concepts, the community is an environment.

EzeUche:

We do not want Islamic banking in Nigeria.

texazzpete:

When you have Christian leaders telling the dominant religion in Nigeria that the name of their religion is 'poison', what else do you expect?

Answer me this SIMPLE question: If it is called 'Islamic Banking' all over the world and then suddenly in Nigeria Christian leaders are demanding it be called something else, is it not going to cause intense suspicion and resentment in the Muslim community in Nigeria? Is it not tantamount to OFFICIAL acceptance and propagation of the 'muslim = terrorist' stereotype?

The same people that were claiming Buhari made inciting comments are the ones keeping mum while the CAN folk have made these sort of unwise statements. Now we're in the escalation stage. Let's hope we don't all suffer for this.

[img]http://www.latribune.fr/img/30-1193982-0/296049-img-27939-hr.jpg.jpg[/img]

juman:

Live let others live.

Opposition against islamic banking is unnecessary. This is happening because of level of our development.

There is no way islamic banking will islamitise the nation. They know this.

Our leaders keep deceiving us that we are one.  

Surely nobody trust the other.

texazzpete:

When you have Christian leaders telling the dominant religion in Nigeria that the name of their religion is 'poison', what else do you expect?

Answer me this SIMPLE question: If it is called 'Islamic Banking' all over the world and then suddenly in Nigeria Christian leaders are demanding it be called something else, is it not going to cause intense suspicion and resentment in the Muslim community in Nigeria? Is it not tantamount to OFFICIAL acceptance and propagation of the 'muslim = terrorist' stereotype?

The same people that were claiming Buhari made inciting comments are the ones keeping mum while the CAN folk have made these sort of unwise statements. Now we're in the escalation stage. Let's hope we don't all suffer for this.

[img]http://www.latribune.fr/img/30-1193982-0/296049-img-27939-hr.jpg.jpg[/img]

Negro_Ntns:

9ja,

You are chopping my statements out of their block to fire your thoughts at me.
I can relate with how you feel on this issue generally but do me a favor, I need you to read to understand, and not read to respond.

First, on Sharia.

If you accept an invitation to come skydiving with me and its your first time you will enjoy the plane ride on take off and look ahead to the adventure but as we get further away frm take off fear will begin to show in your appearance and when we get to the launch altitude and bearing you will be tense, unsure and needing reassurance. The more jumps we do together in a tandem the more safer and confident you get until you are ready to do a solo jump, then the fear returns but this time of being by yourself. In every new encounter there is the fear of the unknown. There is nothing harmful in Sharia. What we ought to fear is the people that execute laws over us and lead us, not the laws themselves.

The people

The Nigerian moslem is no more of a devil than his christian counterpart. A theory of physical motion in physics said "to every action in one direction there is equal reaction in opposite direction" Be mindful that its only a theory and at the minimum that theory is true. How about at the maximum?  The possibilities cover to wide of a range to be listed. Therefore our leaders need to be careful and not stalemate into turf lines.

On Jesus and wine
We lie to ourselves in order to get intoxicated and misbehave and then lie on Jesus about it. Remember that the translated Bible we read was not revealed or written in English language or Latin or Greek. It was originally written in Old Hebrew and then translated to about two or three more languages before english. In certain languages exact match in words and meaning are not possible and the closest in meaning has to be substituted. The wine meant in the Bible is not the liquor we call wine today.

It is blasphemous to attribute Jesus (SAW) name to any substance that make a man act ugly in his character towards another human. Bible did not sanction consumption of liquor and neither does Quran. During the age of abolition here in America liquor was banned because it was destroying families but capitalists fought and won it back into the bars.

On non-interest banking

It was not borrowed by Islam, it was mandated for moslems. The bank is not going to be called Islamic banking, its name is Jaiz banking. Now, as far as its function, you said christians practiced it (non-interest banking) as well, then there is no problem with this one.

I still believe the nation and the people have misplaced priorities here.  I don't care how much people talk and chatter about this thing the North have made up their mind and in the latest report I read they hinted that they need it for their region and it should be tolerated for them as co owners in Nigeria but if its not possible to co exist then to go separate ways.

You see we Southerners talk about Northerners being dumb. No, we are dumb!!, they are smart.

They have hinted right there in that report their flexibility to stay or split. Yet, instead of people jumping on Gej neck to get in action, we are still chattering about how bad Sanusi is. There are many events that change overnight and cause them to change mind about leaving, they did it before!  

So, my brother, drop this talk about Islamic banking and start opening posts about National question (SNC) in view of the North's invitation to it.

Or do you not agree?

mathskill:

The renowned global financial intelliegence magazine, The Banker, a publication of the Financial Times of London, has conferred on Mallam Sanusi Lamido Sanusi double awards. The awards are the Central Bank Governor of the Year for the entire world, and that of the African continent.[3] The TIME magazine also listed Sanusi in its TIMES 100 list of most influential people of 2011[4]
If you refuse to recognize excellence amongst because of prejudice,sentiment and hatred others will