1. Your statistics is wrong and these American companies were not there when the country had nothing like Nigeria. and your rant about Apple or no apple is just behind the whole point.

First I mentioned microsoft, second I mentioned Apple, Should I continue to mention more ? I will list 7 household names that are American Giant Firms in malaysia.

Jesus is Lord!

If I were SLS, I would just continue with my work. Player haters will always be player haters. Even if you cut your head for them

Http://healthmad.com/mental-health/how-to-choose-your-right-partner-tips-and-ways/

islamrules:

First I mentioned microsoft, second I mentioned Apple, Should I continue to mention more ? I will list 7 household names that are American Giant Firms in malaysia.

Jesus is Lord!

I'm not against you mentioning names, Infact I can help you with names if you like. No doubt, they are there. But what I'm saying is these guys are merely investing hoping to gain. They are there because they know they will make their money. It's a blooming economy already. But you are making it appear like these are the companies that are saving Malaysia. No doubt, these companies employ Malaysians and all that. But their economy has already prepared the grounds for these foreign companies. Why are they not in Nigeria? ordinary Mac products are hard to find in Nigeria or priced at amounts majority of Nigerians can't part with while mac shops are like everywhere in Malaysia cos common people can buy it.

and that's it. A country's progress doesn't does not depend on the religion it practices. Rather, it depends on the leaders' competence, People's trust in the decision of their leaders and welcoming innovations cos obviously the ones on ground ain't doing sh!t. But there's none of this in Nigeria except Religion which has been there for years and has done nothing but to enrich some few people's pocket. Nuffsaid.

This is no more a News, that Sanusi Lamido quoted some verses from Bible means what? or is it a new thing. There a lot people like me and you that can quote any verse from both Bible and Quran. i hope Islamic banking will not tear this country apart.

basadenet:

This is no more a News, that Sanusi Lamido quoted some verses from Bible means what? or is it a new thing. There a lot people like me and you that can quote any verse from both Bible and Quran. i hope Islamic banking will not tear this country apart.

t is already. The best is for him to let go of it and let Nigeria continue the way it is. Most people think his ambition is religious wise but I'm thinking more of his career. He wants to see it implemented more for his career. What I'm talking about is similar to how a United State Senator would do anything to have his proposed Bill passed. maybe I'm wrong, but I think that's his stance cos he's an ambitious man and being CBN governor is definitely not his last stop.

basadenet:

This is no more a News, that Sanusi Lamido quoted some verses from Bible means what? or is it a new thing. There a lot people like me and you that can quote any verse from both Bible and Quran. i hope Islamic banking will not tear this country apart.

Islamic Banking may tear this country apart but the blame will go largely to the christians
Christians close our expressways more than any other group - no shout of that christianising the country
Muslims go to work on Fridays; Christians go to church on Sundays - muslims are not complaining
Soludo made the application to join the Islamic Financial Services Board, Sanusi took it from there and issued the guidelines - now Sanusi is a religious bigot
Sanusi appointed a lot of christians onto CBN Boards and as dept heads - Christians are saying it is a trick. How? Is Islamic Banking the only project Sanusi will undertake as governor.
There are islamic banks all over the world - but we are told, no, Nigeria is different. But we have religious schools. And no sane person would say banks are more important than schools!
Tell, what can Sanusi do that christians will not rail about

Even the Devil quoted the Bible to JESUS CHRIST,So what is the big deal about Sanusi quoting the Bible?

Sanusi Lamido is gunning to become the Emir of Kano. No one should be surprise by this man's actions or in-actions. His studied Economics and Sharia Law in school in Sudan, Libya and co. One begin to wonder how such a person would not work towards the aclualisation of Sharia law as he has been brain-washed in those schools. No matter how much he protest and tries to prove his innocence, we can see beyond his veil. [b]Can he swear by the Quaran that he would not prefer that Sharia law be practiced all over Nigeria? [/b]If he can do that, he will have a big fan in me for ever.

Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame. Infact, the more successful islam countries are the ones that de-emphasize religion in the running of the economy, they know that won't work. Little wonder those countries are even a success, take for instance islam countries with heavy islamic bank presence like Iran and pakistan, what exactly can they point are the real and tangible effects of islamic banking in their countries? How has it reduced poverty, increase unemploymwnt, increased lending, bring down inflation rate in comparison to conventional banks in these countries? People just here no interest charge and they are clamouring for it without exactly asking what the pre-requisites are for obtaining their lones, what are the terms of agreements. Do you know that for instance, to borrow money from these islamic banks, a business will have to give full disclosure of its profits since the bank will have to go into a profit sharing partnership with the business. Like how many serious Nigerian businesse owners laden with all the multiple taxes and levies he has to pay both state and fed government, not to talk of overhead expenses will be willing to share the meagre profits they make just because they borrowed money from the banks. Do you all know that account holders in these banks are not entitled to any interest on the money kept in the vaults of these banks except when they are actually in business with the banks? With the nature of these banks they are heavily restricted to do just basic banking business hence the sources of funds for these banks are seriously limited, therefore, most of their funds will be going to very small businesses whom most of the times do not get the monies as they hardly meet the pre-requisites of these banks. Another worrisom thing again is the fact that most of the activities of these banks will be greatly sheouded in secrecy, for instance, in countries like iran and pakistan where they have islamic banking laws as their conventional banking system, the banks are not allowed to disclose the identity of account holders to the authorities, imagine a very porous country like Nigeria having banks whose actives can't be in the full glare of the public, gush, i shudder at the prospect of such happening.
The problem here is that we do not have a cerebral president or Senate with equipped knowledge of what the islamic banking system is all about. They are only concerned with the illusional benefits without understanding how they hope to achieve these. People citing britain and America as countries with islamic banks, you all fail to understand that in those countries, they operate under the guidance of non-interest rules and regulations od non-interest banking of the countries. They do not have any paralell islamic laws along side the secular laws that guides regular banking systems there. There is no such thing as an Islamic council operated by their federal banks to oversee islamic banking in those countries, those are left at the discretion of each of those islamic banks. Even in core islamic states that practice it heavily, they have had to amend their constitution to accommodate the demands of islamic banking in their country. Here in Nigeria, in the event of a litigation between any of these banks and a client, our legal system do not have the expertise to hear the cases on the basis of the country's constitutional provisions. Besides, with the violence and agitation by Boko haram in the north for sharia laws, it is only a matter of time before most of the conventional banks will be intimidated out of northern Nigeria in exchange for islamic banks. Already, some few days ago, Muttalab's Dad(whom obviously are the people pushing Sanusi and is the frontman for Jaiz bank in Nigeria) has already announced that the bank was going to be a regional bank( remember how Sanusi had to categorize our banks when he came in and gave us foolish explanations, now use your tongue to count your teeth). I see some power brokers in the north trying to use Sanusi to get some serious economic relevance and control for their region through the back door, Sabusi. Who ever does not see the plot is delusional, thinking there is going to be economic benefits for all Nigerian is laughable, wait until the so-called islamic council scheme you out with bottlenecks when you apply to their banks as a non-muslim. Whoever does not see the whole picture is not smart, why do you think they had to rush to nationalize those three banks before the resumption od the new finance minister, guys think hard, there is a great plot here.Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame. Infact, the more successful islam countries are the ones that de-emphasize religion in the running of the economy, they know that won't work. Little wonder those countries are even a success, take for instance islam countries with heavy islamic bank presence like Iran and pakistan, what exactly can they point are the real and tangible effects of islamic banking in their countries? How has it reduced poverty, increase unemploymwnt, increased lending, bring down inflation rate in comparison to conventional banks in these countries? People just here no interest charge and they are clamouring for it without exactly asking what the pre-requisites are for obtaining their lones, what are the terms of agreements. Do you know that for instance, to borrow money from these islamic banks, a business will have to give full disclosure of its profits since the bank will have to go into a profit sharing partnership with the business. Like how many serious Nigerian businesse owners laden with all the multiple taxes and levies he has to pay both state and fed government, not to talk of overhead expenses will be willing to share the meagre profits they make just because they borrowed money from the banks. Do you all know that account holders in these banks are not entitled to any interest on the money kept in the vaults of these banks except when they are actually in business with the banks? With the nature of these banks they are heavily restricted to do just basic banking business hence the sources of funds for these banks are seriously limited, therefore, most of their funds will be going to very small businesses whom most of the times do not get the monies as they hardly meet the pre-requisites of these banks. Another worrisom thing again is the fact that most of the activities of these banks will be greatly sheouded in secrecy, for instance, in countries like iran and pakistan where they have islamic banking laws as their conventional banking system, the banks are not allowed to disclose the identity of account holders to the authorities, imagine a very porous country like Nigeria having banks whose actives can't be in the full glare of the public, gush, i shudder at the prospect of such happening.
The problem here is that we do not have a cerebral president or Senate with equipped knowledge of what the islamic banking system is all about. They are only concerned with the illusional benefits without understanding how they hope to achieve these. People citing britain and America as countries with islamic banks, you all fail to understand that in those countries, they operate under the guidance of non-interest rules and regulations od non-interest banking of the countries. They do not have any paralell islamic laws along side the secular laws that guides regular banking systems there. There is no such thing as an Islamic council operated by their federal banks to oversee islamic banking in those countries, those are left at the discretion of each of those islamic banks. Even in core islamic states that practice it heavily, they have had to amend their constitution to accommodate the demands of islamic banking in their country. Here in Nigeria, in the event of a litigation between any of these banks and a client, our legal system do not have the expertise to hear the cases on the basis of the country's constitutional provisions. Besides, with the violence and agitation by Boko haram in the north for sharia laws, it is only a matter of time before most of the conventional banks will be intimidated out of northern Nigeria in exchange for islamic banks. Already, some few days ago, Muttalab's Dad(whom obviously are the people pushing Sanusi and is the frontman for Jaiz bank in Nigeria) has already announced that the bank was going to be a regional bank( remember how Sanusi had to categorize our banks when he came in and gave us foolish explanations, now use your tongue to count your teeth). I see some power brokers in the north trying to use Sanusi to get some serious economic relevance and control for their region through the back door, Sabusi. Who ever does not see the plot is delusional, thinking there is going to be economic benefits for all Nigerian is laughable, wait until the so-called islamic council scheme you out with bottlenecks when you apply to their banks as a non-muslim. Whoever does not see the whole picture is not smart, why do you think they had to rush to nationalize those three banks before the resumption od the new finance minister, guys think hard, there is a great plot here.

Tofax:

Even the Devil quoted the Bible to JESUS CHRIST,So what is the big deal about Sanusi quoting the Bible?

amazing that even the devil can quote the bible and knows it more than the christians who claim to own it.all in the name of hatred and jealousy,the christians would blindly follow their money-making pastors to support usury banks and oppose non-interest banking because it carries the word "islamic".those pastors are materialistic and they would rather have banks who give them returns (interest) on their money than follow what pleases God.

christians should know that Nigeria is made up of muslims and christians.it is how you behave and treat your fellow compatriots that they will also treat you.christians should learn how to be tolerant because if they think they can provoke their fellow countrymen and everything would still remain the same,that is a miscalculation and a wrong adventurous mistake.

and for the mad ones who will jump and say "divide the country",they should also know that even if you divide the earth,universe,state,region,town,e.t.c.,you will still have muslims in your midst.there are millions of muslims in southern nigeria and everywhere in Nigeria.dividing nigeria will not make muslims disappear.so it is time christians stop being fanatics and behave themselves.

rhymz:

Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame. Infact, the more successful islam countries are the ones that de-emphasize religion in the running of the economy, they know that won't work.

well, I mantioned Malaysia in my post and I did not not say countries like Malaysia succeeded "because they practise Islamic Banking". It was rather used in negating the fact that countries that practice Islamic banking or has islamic orientation do not flourish as raised by someone else.

I get your point and i think I understand some of your points about hidden intentions. You may be right considering how things are done in Nigeria and who knows, you may be wrong. After all is said and done, it might be an harmless policy.

The issue here is pragmatics, to me. Even if Islamic banking will work in Nigeria. It's for the best of the nation to just stop it and let's continue to live the way we've been living. In any case, Nigerians like the country the way it is.

Every other thing is right with the idea except for its name.
It shouldn't have been called Islamic banking.

@rhymz

how successful a country/countries is/are give(s) no justification on whether or not islamic banking should be accepted or rejected.there are muslim countries that apply islamic banking that are very successful and there are also non-islamic countries that are successful that also have islamic banking.

there are countries that do not have any trace of islamic banking that are poor.and there are also others that are rich and successful.do not use that as a yardstick.

If he like, let him quote from Genesis to Revelation. Who gives a phuck!

na him sabi oooo

They hate islam with passion and thier religion cannot offer anything good like this to d society.

binbass:

They hate islam with passion and thier religion cannot offer anything good like this to d society.

such a dumb a§s retard. . . What an ignoramus.

okay

Quote from: binbass on Today at 06:14:29 AM
They hate islam with passion and thier religion cannot offer anything good like this to d society.

such a dumb a§s  slowpoke. . . What an ignoramus. [quote][/quote]

Well they can offer insults!

bouzymill (m) Internet Posts: 328 Re: Cbn Gov Sanusi Responds To Accusations He Is Bigot
« #36 on: Yesterday at 11:13:12 AM »

"Islamic banking" should not be viewed from a religious point of view, It should be ciriticised from its concept and implementation. I don't think it is only muslims who like Interest-free loan and I don't think only muslims would benefit from the whole thing.

Make no mistake, the concept is not being viewed as Islamic but it is being introduced from a religious point.
Going by the concept and implementation of ''Islamic Banking'' since SLS  started it, would you consider it to be faulty or perfect?

Non-interest banking concept is not only entrenched in major religions in this country, it is part of our culture. The issue that bother the mind is why SLS decided to give it a religious coloration and make it a national issue. Please ponder on this from a neutral position if you can.

If he is strictly championing the introduction of a Non-interest banking unadulterated and set up committee for it, he would have appeared to be a nationalist. Telling us that his Islamic banking is for everyone is just a selling point and a fraud. Consider the BOD, staff recruitment, business engagements, mode of operation etc. How do you see a non-Muslim ''infidel'' to be part of it when beliefs are different?

I don't care what religion you practice or where you come from. I want to love and respect you as a brother/Nigerian/African but once I sense any tribal or religion undertone, I retrace my stance; that is what happened on this issue.

If JAIZ bank has a practicing license for several years now, why didn't the rich/wealthy Muslims work together, do business with it and ensure its success? Why didn't the northern states who believed in it use their monthly allocations to promote it? Why are they trying to utilize national fund for it propagation?

To be honest with ourselves, Nigerians will only be interested in obtaining loans from such bank and not deposit our funds in it, and I see a lot of loan diversion even from my Muslim brothers.

Another challenge is that we compare this country with so many successful countries which is a wrong notion {not in the introduction though but implementation}. The best concept in the world when applied is usually a failure in our case. besides success of concept X in country A does not guarantee success in country B. meaning that even the non-interest banking concept may not return the expected success.

@Rymz

"Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame"[quote][/quote]

Where did you get this from? who said that ? No body and you wrote a whole lot of crap on a preposterous assumption which nobody presented! What a waste .

as long as it helps to heal our bleeding economy I'm all for it its just that the name can be modified "non-interest banking"

nagoma:

@Rymz

"Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame"

Where did you get this from? who said that ? No body and you wrote a whole lot of crap on a preposterous assumption which nobody presented! What a waste .

slowpoke, Dont you ever again in your life quote me if you can't understand the context of my argument. Besides, I was not responding to you cos I know you lack the mental ability for debating serious issues without talking crap about how ppl hate islam, the north and all that stooopid childish tantrums you like to throw. Piss off, ul ittle cretin!

n![quote][/quote]

ikooko:

Make no mistake, the concept is not being viewed as Islamic but it is being introduced from a religious point.
Going by the concept and implementation of ''Islamic Banking'' since SLS  started it, would you consider it to be faulty or perfect?

Non-interest banking concept is not only entrenched in major religions in this country, it is part of our culture. The issue that bother the mind is why SLS decided to give it a religious coloration and make it a national issue. Please ponder on this from a neutral position if you can.

Well. . . I guess I should make it my point clearer here. the fact that it is called "Islamic Banking" and not that SLS called it "Islamic Banking". There might be any other form of non-interest banking. . . I agree to that totally (though, I'm not an economist and I don't know alot about forms of banking) but the university where I graduated from the economics Students had an "Islamic economics" course and I just have to point out that even in Countries that practice Islam even know it as and use the non-interest banking know it as "islamic banking".

IF the guy had said. . . OK let's do Non - interest banking without Islam word there. We would have accepted. But at the end of the day, Conspiracy theorist would still come back to say "Hell yeah . . . what he's doing is Islamic banking mehhhn" that guy is trying to turn us to an Islamic nation". To me, it is good he is straight forward with it.

But i think they should just let go of it. Simple.

Most of the Nigerian Xtians can not see beyond their nose. If not so, why can't they respond to the CBN Governor's invitation to debate that Usury is anything but Christianity? Why? Islamic Banking has come to stay whether you Ignoramus Xtians like it or not. If you like go to hell, Mumu!

The stupid Sanusi! The guy has gone down from Hero to Zero. Sanusi was a guy loved by Christians and Muslims in the whole of Nigeria. Many of the youths in the country saw him as a hero for dealing with the corrupt banking system, shaking it and removing the mafias that saw people's deposits as their own personal loot. Sanusi was praise for outfacing the corrupt greedy House reps. He was seen as the future of Nigeria. Many of us mulled that Sanusi was the kind of guy Nigeria needed to shake up the system. In 2015, when Jonathan's finishes his one and only term, since he has said he no longer wanted to stay a day longer in power, we had hope Sanusi will be the guy that will be acceptable to both Muslims and Christians, Notherners and Southerners alike. Instead of another thieving crook like IBB being recycled, we had hope that sanusi is the guy that will be the Messiah that we had prayed for. But alas! Sanusi has now fallen, he has given the Christians and Southerners in this country the impression that he is a religious bigot. That his masters degree in Islamic studies from Sudan is no Fluke, that he is bend on implementing his beliefs on the secular Naija.

  Funny enough, all he needed to do was lie low, suppress Islamic banking, then in 2015 when he is elected president, he would have been in a better position to en-force his beliefs on the rest of Nigeria. In 2015, not just having Islamic Banks running side by side with normal banking, but replace all normal banks by Islamic ones, also replace all secular laws by Sharia laws and also enforce only one single national religion on the country, ie Christianity!

   Introduction of Islamic banking has possibly saved the Christians and Southerners in naija from a worst fate that would have be-fallen them in 2015!

", guys think hard, there is a great plot here."

It's amazing how they see plot everywhere as if the "conventional" banking was going to be abolished. The prediction of the critics is that the experiment will fail, why dont you allow it to ? You surely are not putting your money there , what is the logic ?what are the motives?

Quote from: nagoma on Yesterday at 11:20:49 AM
@Rymz

"Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame"
Quote

Where did you get this from? who said that ? No body and you wrote a whole lot of crap on a preposterous assumption which nobody presented! What a waste .

slowpoke, Dont you ever again in your life quote me if you can't understand the context of my argument. Besides, I was not responding to you cos I know you lack the mental ability for debating serious issues without talking crap about how ppl hate islam, the north and all that stooopid childish tantrums you like to throw. Piss off, ul ittle cretin!
n!

You don't expect me to be intimidated by irrational outbursts! You don't want to be quoted -then don't write rubbish.

Ur all getting it wrong because we need way forward and ur putting religion on ur head can u explain how we can move forward.i sorry for Nigeria of ur generation

bouzymill:

Well. . . I guess I should make it my point clearer here. the fact that it is called "Islamic Banking" and not that SLS called it "Islamic Banking". There might be any other form of non-interest banking. . . I agree to that totally (though, I'm not an economist and I don't know alot about forms of banking) but the university where I graduated from the economics Students had an "Islamic economics" course and I just have to point out that even in Countries that practice Islam even know it as and use the non-interest banking know it as "islamic banking".

IF the guy had said. . . OK let's do Non - interest banking without Islam word there. We would have accepted. But at the end of the day, Conspiracy theorist would still come back to say "Hell yeah . . . what he's doing is Islamic banking mehhhn" that guy is trying to turn us to an Islamic nation". To me, it is good he is straight forward with it.
But i think they should just let go of it. Simple.

You missed the point, really I don't want to appear as wasting my time explaining to you.

Nigeria is a secular state, it is misnomer for the CBN governor to be seen as nonsecular.
If he wants to introduce non-interest model in the banking sector fine but anything aside that is an aberration. Mind you banks have packaged non-interest loans for customers that requested for it.
Islamic bank have existed in this country prior to SLS time but they have existed within the laws of the land. It is the duty of those that wants Islamic banking to propagate it not CBN governor.

You may want to update yourself with introduction and implementation of Islamic banking in other secular nations and compare it with our case. This will give you more understanding of my point.