₦airaland Forum

pm05337:
When it comes to news broadcasting based on facts and the truth, 247 Nigeria news update does not break false news. It is our principle to get only the verified fact out to the public. Recently, there has been a report circulating all over the air about the family of founding pastor of the Redeemed Christian Church of God (RCCG), Late Rev. Josiah Olufemi Akindayomi, accusing Pastor Adeboye of changing church principles and Marginalization. This publication is untrue and has been verified by the immediate relatives of the Late RCCG founder.





The speculation that the Akindayomi’s want to have a representative elected by the family, in a permanent position on the governing council to  help ensure that the doctrine being taught by the church is in line with the spiritual beliefs of the late Rev. Josiah Olufemi Akindayomi is utterly unfounded, according to members of the immediate family,  This has been reported falsely and the Akindayomi’s were NOT aware of the petition signed by Abiodun Olukowajo (also a relative) on behalf of the family.



According to a member of the immediate Akindayomi family, both the Adeboye’s and the Akindayomi’s had a meeting today (1-August-2011) at the redemption camp. During the meeting, Pastor Adeboye and his wife openly discussed with Pa Akindayomi’s family on the circulating petition by Mr Abiodun Olukowajo. After a well mannered meeting the immediate family of the Akindayomi’s made it clear the news had absolutely nothing to do with them and were as shocked as anyone to hear of such allegations. When we asked one of Pa Akindayomi’s son (Baba Alakos) whether parts of the petition were right, he commented and made a statement that “The Church is of God not the Akindayomi”. He went on to categorically state  the family will never want to challenge Pastor Adeboye’s pastoral authority .Mr Abiodun whose name was mentioned in the letter, is one of the grandsons, and the immediate family suspect some people might have tried to exploit him against Pastor Adeboye for their own selfish interest. Nonetheless, the family have promised to talk to Mr Abiodun Olukowajo who lives in UK (London)



From our dialogue, the Akindayomi family categorically state they regard Pastor Adeboye as a father not just as a spiritual father alone.



Both families ended the meeting on a mutual and respectful note, and all parties went home in peace.

But some of these Nigerian pressmen need to be flogged publicly with barbed wire o! How can you call a story 'unfounded' and 'baseless' in one breath and in the other confirm that there was a petition signed by a relative?

Beaf:
50% of the legislators will not be missed if they stay on recess for the next 365 days.

This situation calls for outrage not a cynical shrug of the shoulders.

In any normal country, failure to divulge any more details (as well as the alleged video) would see Mustapha arrested for obstruction of justice. Na only here we go dey beg am to talk wetin e know.

oyibomoses:
i have an Ipad 2 64g wifi and i want to sell it for the 3g, am selling mine 120k but i will beat the price down for a very serious buyer

i'll take it for 100k. Let me know if you're ready to sell at that price

PapaBrowne:
So you wish Nigeria and its citizens 4yrs of failure because your candidate didn't win the elections! How pathetic!! Gbawe, which kin heart you get?? You aren't too different from the Boko Haram!

What makes YOU any better, when you can come here boasting of posting misinformation just to 'spin and spell'?

http://www.newyorker.com/reporting/2011/08/08/110808fa_fact_schmidle?currentPage=all

This is perhaps the most detailed look into how the events of that night occurred. It's a really fascinating read.

ikooko:
''Intense debate'' but not killing and destruction of property. We are on same page not misinformation. Now picture same issue in Nigeria.

poor analogy. All religions in Nigeria are staunchly against same sex relationships/marriage.

blank:
@ Texaspette. You are quite a big f-ool for posting that thrash. I know it is meningitis. Do i need to have mentioned the name? Must you be spoonfed? Can you not make the inference that was so glaring in the post? Ok, let me help you.

Since the MENINGITIS drug trial by Pfizer, parents have been skeptical of any such drug by drug companies. This has reached the extent that they have refused to send their "kiddies" for routine stuff like immunizations and stuff.

How hard was that for you to understand? SMH.

Since Iolo has done a good job in trying to force the relevant knowledge through your thick skull, I will not dwell much on the matter.

Since we're talking about 'inference' and 'deduction', how did it skip your mind that the Pfizer scandal took place in 1996 and this is 2011. Most of the parents there have not even heard of Pfizer before. In the intervening years, there have been periods with a high degree of compliance with the immunization program.

bizonline:
The people have a right to protect their children if the govt cannot prove it to them beyond doubt that the polio immunization will not end up like what happened in the same state when they are "killmunizing" the children against meningitis

Pfizer's Trovan was not a vaccine to 'immunize' anyone. it was an antibiotic administered to children already seriously ill with meningitis. Seriously, why are you people so unaware of significant events in your own country?

ikooko:
There is no problem really according to your analysis, but how will your analysis view the legalization of same sex marriage in this country to start with, yet such issue did not cause as much as a debate in US?
How will your analysis support the inclusion of Islamic laws, Christianity laws, Traditional belief laws in Nigerian constitution? Do you understand why a country is called a sovereign state?

Legalizing same-sex marriage caused an intense debate in the US. Stop peddling misinformation here.

Ironically, if we strip religion from our Government as CAN is trying to say, would there be any reason for criminalizing homosexual relationships in Nigeria? Would my tax money be used to jet people off to Jerusalem and Mecca?

brainpulse:
Eph 4:11-12 And he gave some, apostles; and some, prophets; and some, evangelists; and some, pastors and teachers;

Pastors are God's representative on earth and they are ordained as priest as of old, they are also reffered to as priest.
Pls check the dictionary meaning of pastor and priest.
They have the right too collect the tithes becaus ethey are the Head of the Body of Christ "church"- Revelation.

Leave the Judgement to God to decide what to do wit them even if they steal from God.
You are n ot perfect too. Are you?

On one hand I have your own words exhorting us to hand over our cash to these pastors.
On the other hand, we have Jesus telling us through his parables that giving to the poor and needy is the same as giving to Him. We also have Jesus telling rich men to sell all their things, give the proceeds to the poor and then follow him.

Who do we believe?
Hint: Not you.

brainpulse:
@ free indeed- why do you turn your bible upsidedown when reading, there is no portion of the bible that says you should discard the old testament- Jesus says He as not come destroy that which was said in the old convenant but through it the new might be fufill, so what about all the prophesies God told in the old convenant and are still going to come to past.
Heb 13:8- He is the same lord yesterday, today andd forever.
We have a lot odf doctrine that the Devil is bringing in now, different from what christ preaches in these last days

Deu 14:22  Thou shalt truly tithe all the increase of thy seed, that the field bringeth forth year by year.
Because they were predominantly farmers, shephards, fishermen and warriors as of old so they can only quantify things in that other. But for now our income is our produce.

live the men of God to do anything with it, because they will be judge accordingly

Malachi 3:8-10. - Please dont rob God.

I see you are trotting out the good ol' Malachi passage to support your stand. Why hold yourself to Jewish laws? If you must stand by the Old testament laws, why have you not made any burnt offering too? Why do you not declare every menstruating woman 'unclean'?
How do you follow the 'an eye for an eye' rule in the OT yet adhere to Jesus's 'turn the other cheek' advice?

@Topic
If you must tithe, please give your tithe to God not to these greedy pastors. Jesus gave lots of parables about helping the poor and charity and absolutely NONE on tithing. He even made the distinction of tellling us that what we do for the poor and needy, we do for him. Yet these greedy pastors these days will focus their sermons almost exclusively on tithing.
If you MUST pay your tithe, sort out 10% of your earnings and proceed to the nearby orphanages or prisons. I assure you, you'll be more in keeping with Jesus's teachings.

My words will fall on deaf ears, though.

blank:
^^^^^^^^

The one that they did before, the drug company used their "kiddies" as guinea pigs and some died and are deformed and u want them to still trust the same companies? Put yourself in the parents' position.

That was Pfizer, and that had nothing to do with Polio vaccine. Please strive to post learned and intelligent comments on NL in the future.

[quote author=ekt_bear link=topic=723927.msg8830314#msg8830314 date=1312182696]@texazzpete: you had no issue with that document on non-interest banking spend most of its time talking only about islamic banking?

So you believe that it is just purely coincidence that this form of non-interest banking is the one that Sanusi appears to be pushing?[/quote]The first couple of paragraphs explain that this is a non-interest banking guideline with special focus on islamic banking.
i do not believe this is 'pure coincidence'. I KNOW that if i ask you to tell me which is the most prominent (and potentially rewarding to Nigerians) NIB model in existence, the answer will be Islamic banking.

[quote author=ekt_bear link=topic=723927.msg8830314#msg8830314 date=1312182696]Why does the concept of "no-interest" have to be religious rather than purely secular?[/quote]It has to have religious connotations in this case because it is in line with religious teachings as contained in the Quran. 'Non-interest' on its own does not have to be religious in nature.
it is the religious aspect of it that ensure you'll never get a loan from an Islamic bank to open a pig sty or a brothel  . Any other conventional non-interest banking model will have zero restrictions on how you spend your money.


[quote author=ekt_bear link=topic=723927.msg8830314#msg8830314 date=1312182696]In a nutshell, why exactly do you feel comfortable with what at least seems to me to be a sectarian agenda?[/quote]1. I have no proof that there's any 'agenda' in the works. Why have you people always glibly skipped over Soludo's role in this? Isn't it because the 'ethnic agenda' argument will begin to fall apart?
2. it's really no skin off my butt. First Bank, UBA et al will continue to provide their regular banking services. My salary will not change, my tax will not change. I cannot see how this infringes on me in any way.
3. I am exasperated with the role CAN has played in this matter. Sentiments aside, CAN's response to this has been to make knee-jerk, provocative and often times paranoia infused comments.
4. Islamic banking has been in operation in many 'secular' countries. It took off in the US post 9/11. it has survived unscathed in the UK post 7/7. Why the paranoia?

Finally, there ARE success stories for Islamic banking in the western world.

http://www.usatoday.com/money/industries/banking/2008-03-26-islamic-finance-sharia_N.htm

Islamic loans turn profit for banks in USA


By Paul Wiseman, USA TODAY

A customer showed up at little Devon Bank on Chicago's North Side, asking for a loan to open a neighborhood shop. But there was a hitch, the would-be borrower explained: "We can't pay any interest. Can you help?"
At the time, seven years ago, the answer was: "Nope," recalls David Loundy, Devon's vice president and legal counsel.

That was then. Since fielding that first request, Devon Bank has transformed itself into a specialist in the kind of no-interest Islamic financing the customer was seeking. Islamic financing now accounts for more than 75% of the bank's mortgage portfolio, and Devon has made mortgages compliant with Islam's sharia law in 36 U.S. states, Loundy says.

Devon Bank, responding to local customers in a neighborhood filled with Pakistani and Middle Eastern immigrants, stumbled onto something big: Islamic finance is booming worldwide, fueled by the windfall from sky-high oil prices and a return to a more strict interpretation of the holy Quran across the Islamic world. Once Devon Bank introduced sharia-compliant mortgages and other loans, "People started coming out of the woodwork," Loundy says.

In a report last month, credit-rating agency Moody's Investors Service said that the global Islamic finance market has grown about 15% in each of the past three years and is now worth about $700 billion worldwide. The heavyweights of global finance have taken notice: Citigroup, HSBC, Deutsche Bank and others have affiliates devoted to Islamic finance.

Giant mortgage investor Freddie Mac began buying sharia-compliant mortgages in 2001. Freddie Mac today continues to buy from four banks that together originate mortgages nationwide. In addition to Devon, Freddie Mac buys mortgages from Guidance Residential in Reston, Va.; University Bank in Ann Arbor, Mich.; and American Finance House Lariba in Pasadena, Calif.

Freddie Mac spokesman Brad German says the company bought more than $250 million in Islamic mortgages in 2007, but volume is slipping as the housing market declines. The mortgages are "a steady, if modest, niche," German says.


Booming bonds

Islamic bonds — known as sukuk — are booming: Nearly $33 billion of Islamic bonds were issued last year, up from $5.5 billion in 2001. Islamic bonds work something like Islamic mortgages. For instance, the German state of Saxony-Anhalt, which issued the first Islamic bond in 2004, sold government property to bond investors and then leased it back from them. The investors technically earned money from the rent, not interest.

Determining exactly what is and isn't a sharia-compliant transaction can get tricky. HSBC and Citigroup each have their own sharia advisory boards, made up of well-credentialed Islamic scholars. Devon Bank, which has assets of just $250 million, leans on opinions from the Sharia Supervisory Board of America.


"It's here to stay," Loundy says of Islamic finance. "You're talking about one-fifth of the planet's population."

agboifo:
Hi thanks! Sorry about making you bid in this way. Just that I wanted to get the best price for this machine, knowing its true worth. Also I don't particularly like leaving my contact info on the Internet, and my Nairaland account does not permit PM unfortunately. Yes, I too hope to close by tomorrow. At the end of today, I will make contact with my preferred bidder.

Thanks again.

Then just create an email address for matters like this.
The email addy I posted earlier (priyeandroid@gmail dot com) is just meant for stuff like this. I get some spam from NL spambots but this is no issue for me since it isn't my primary email.

You can create a gmail or yahoo addy in 5 minutes.

amor4ce:
Well, careless drivers get to slow down thus preventing preventable accidents caused by reckless driving at breakneck speeds.

You're joking, right?
I pray your salary gets reduced tremendously so you can learn how to manage lean finances better

And i'll add 5 to the last offer.
This is rather unorthodox. I kinda prefer direct negotiation to this sort of incremental bidding. Either way, I hope this can be wrapped up by tuesday.

epapa:
it pains me that most of us jugde critical issues on sentiment. Nigeria is a nation strongly polarized by religion. If i were sanusi, i would simply call CAN to a public fora and give them license to operate a non interest bank, work out modalities with them. That way, muslims can practice their religion fully and christians won't feel marginalised.

Here's a CBN press release

http://www.cenbank.org/Out/2011/pressrelease/gvd/CBN%20ISSUES%20NEW%20GUIDELINES.pdf

For the avoidance of doubt, section 23 (1) and section 66 of the BOFIA 1991, (as amended) explicitly provide for the licensing of Non-Interest Banks (NIBs). The CBN is obliged, by law, to issue licenses to appropriate entities for the establishment of NIBs provided they meet the regulatory requirements for licenses.
In view of this, the CBN is open to receiving and evaluating applications for licensing of non-interest banking institutions based on other principles rather than the Islamic variant and will soon issue separate guidelines for non-interest banking under other principles.

So you see, the ball is in anyone's court to submit their own ideas/applications for their own banking system.

PapaBrowne:
Surely you didn't read the post. That is a very unintelligent thing to do before making a comment!!

On the contrary. I read through the post. The real unintelligent thing to do is to not read the CBN Non interest banking guidelines which have been on the CBN website for a month now. From his uninformed comments, it seems Mr. Oritsejafor has not read that document. I suspect you too haven't read it.

I made my initial comment on my Blackberry, so i could not type out my full response. But i'll take a stab at it now.

“Let it also be known that we are not against Islamic banking per se. What we have said thus far, is that there are two issues that the Central Bank of Nigeria, CBN, governor must address properly before the introduction of non-interest banking as against Islamic banking.

“One, we have continued to frown at the way the CBN governor who is being paid by tax payers’ money is championing the course of Islamic banking in isolation of other non-interest banking. We are against Mallam Sanusi Lamido Sanusi using state funds to promote Islamic banking as though that is the only form of non-interest banking. It is against the spirit of the Nigerian Constitution.

“He should allow people who are interested in Islamic banking to use their money to sell their manifesto to Nigerians with a view to wooing them to accept that form of banking which is different from what they used to know,” he explained.

The CBN guidelines issued clearly state that guidelines for other forms of non-interest banking will be issued soon. Sanusi clearly makes the sensible point that Islamic banking is for now the most prominent NIB model in existence and the most ready for immediate roll out. The irony of it all is that Oritsejafor et al are telling us that Islamic Banking is a seriously divisive issue, yet they are excoriating Sanusi for focusing attention to the issue in question.
The CBN guidelines can be downloaded from the link below
http://www.cenbank.org/out/2011/circulars/fpr/non-interest%20banking%20guidelines%20june%2020%202011.pdf
The guidelines clearly shows that Islamic banking is NOT the only form of non-interest banking.

The statement I highlighted in bold font is an extremely surprising one to make. For the avoidance of doubt, can someone PLEASE tell Pastor Oritsejafor that it is the job of the CBN to issue guidelines to regulate the banking sector? What does he mean by 'sell their manifesto'? Would he be more comfortable seeing turbanned Northerners harangue Nigerians daily about the benefits of Islamic banking?

According to Oritsejafor “the other issue that my very good friend failed to address has to do with the guidelines the CBN governor had put in place for the issuance of licence for non-interest banking in the country which is different from that for Islamic banking. In every sector of the nation’s economy including the education sector, there are uniform guidelines for the registration or operating license. For instance, any Nigerian applying to the National Universities Commission, NUC, for licence to establish a university, irrespective of its leanings, is required to adhere to a uniform set of guidelines before its registration. There are no rules for Islamic university and another for a Christian university.

“But the CBN governor has failed, thus far, to explain to the nation why he is putting up a different guideline for Islamic banking and another one for other forms of non-interest banking. ”

This is another weak argument. Non-interest banking is a broad catchment term for banking without interest. However, for islamic banking, it is not enough to not charge interest. there are many other non-permissible transactions that are contrary to the islamic faith such as

uncertainty or ambiguity relating to the subject matter, terms or conditions;
• gambling;
• speculation;
• unjust enrichment;
• exploitation/unfair trade practices;
• dealings in pork, alcohol, arms & ammunition, pornography

Dealing with these and the regulation and monitoring of compliance with these details mandates a dedicated set of guidelines to cover Islamic banking specifically. This is what CBN has done. If tommorrow CAN launches Christian banking, would they be happy to exist under the same blanket guidelines that make it unethical to refuse me a loan to open up a brothel, for instance?

This is in addition to a proposed establishment of a Shari’a Council of Experts to be based at the CBN to monitor the operations of the Islamic banking and we have asked; is this what operates in all the countries in the world where Islamic banking operates?”

It is worth noting that in the CBN's guidelines there is no mention of the word 'Sharia' or even 'Sharia Council of Experts'. The guidelines provide for the establishment of an Advisory council of experts.
The Pastor's query on the likelihood of this occuring elsewhere around the world shows that the man has not even bothered to do any critical research on the matter.
Check out HSBC's Islamic Banking page
http://www.hsbcamanah.com/amanah/about-amanah/islamic-banking/shariah-supervision/
I've quoted some excerpts below

Meeting Islamic legal guidelines
HSBC Amanah considers Shariah compliance of its business operations as its most important and strategic priority. This is reflected in its Corporate Values, "In developing our products and services, we are committed to the highest Shariah standards in the Islamic banking industry." In addition to Global Shariah Advisory Board and Regional Shariah Committees, HSBC Amanah employs a team of qualified professionals to ensure that the guidance and advice received from the Shariah Committees is implemented in letter and spirit.

HSBC Amanah Global Shariah Advisory Board
The Global Shariah Advisory Board (GSAB) advises HSBC Amanah on research activities intended for further development of the Islamic finance industry. GSAB comprises of representative scholars from all Regional Shariah Committees (RSC) of HSBC Amanah in addition to other Shariah scholars of international standing. The presence of renowned scholars from various geographies at GSAB will provide an opportunity to achieve further harmonization of Shariah standards and practices of Islamic Finance Industry. The following independent Shariah scholars are currently members of GSAB.

So the simple answer to the pastor's question is "YES!".

I encourage you all, and ESPECIALLY the CAN leadership to read the CBN guidelines and they work hard to tackle any valid loopholes in the guidelines. That is the way of progress. All this shouting will come to no good when the relevant guidelines are issued as-is.

At every turn, thiss man speaks from a position of ignorance. I'm deeply dissapointed in him for these words.
There are too many holes in his argument.Has he even taken time out to discuss with the CBN?

agboifo:
It's in very good condition and is my work machine.  I'm selling now as part of scheduled upgrade while it still has good resell value.
What's your offer please? Location is Victoria Island, Lagos. You may inspect the machine before making a decision.

Yeah, it does seem like it's in decent shape. I'd much rather we negotiated offline (I provided my email earlier) but I can pay cash on Monday.
Given that it's the 1st unibody model, I'd say 110k should be a fair price

I'll take it if its really in good condition.
You didn't drop any contact details. You can contact me on priyeandroid@googlemail dot com

dayokanu:
Boko Haram has not shut down ATB University bauchi We should blame isa Yuguda the governor and GEJ apologist

It has not shut down University in Gombe We should blame Danjuma Goje another PDP and GEJ apologist.

It has not shut down university in Jigawa We should blame Sule lamido and other GEJ apologist

These places are very close to Maiduguri

Conclusion GEJ apologists are behind the Boko haram menace

Lol. Common sense gets no traction with KnowAll.

0lumide:
What I don't understand is some Muslims secretly supporting Boko Haram,

Though they can't come out and openly declare their support for boko haram, they secretly argue for it!!!! silly cunts!!

I know how you feel. I felt the same way about the Christians that were supporting MEND too.

[quote author=ekt_bear link=topic=723256.msg8814551#msg8814551 date=1311947836]Why not have a single non-interest banking framework rather than N different ones? What advantage does Islamic banking specifically have over a secular one?[/quote]Any other NIB model could easily advance you funds to open brothels, beer parlors and pig farms. Islamic banking will not.
From the CBN guidelines (seriously, why will you not even read this)

Islamic banking as one of the models of non-interest banking, serves the same purpose of providing financial services as do conventional financial institutions save that it operates in accordance with principles and rules of Islamic commercial jurisprudence that generally recognizes profit and loss sharing and the prohibition of interest, as a model.
Other non- permissible transactions include those involving any of the following:
• uncertainty or ambiguity relating to the subject matter, terms or conditions;
• gambling;
• speculation;
• unjust enrichment;
• exploitation/unfair trade practices;
• dealings in pork, alcohol, arms & ammunition, pornography and;
• other transactions, products, goods or services which are not compliant with the rules and principles of Islamic commercial jurisprudence.
Given the increasing number of requests from persons, banks and other financial institutions desiring to offer non-interest banking products and services based on Islamic commercial jurisprudence in Nigeria, the CBN has developed these guidelines for the regulation and supervision of institutions offering Islamic financial services (IIFS) referred to in this guideline.

There's enough distinct elements of Islamic banking to set it apart from other non-interest banking models. Hence the specialized guidelines being issued.

I don't understand, though. Given your strident opposition to Islamic banking, why would you wish for generic guidelines for all NIB models. I'd think you'd want a more critical look at the guidelines surrounding this specific implementation.

KnowAll:
The funny thing is there has never been one gun shot recorded in Yola, is somebody not putting one and one together in other to figure out who the perpetuators behind BK are.  

No bomb blast recorded in Benin City too. Let's blame Dokpesi too

Sicherheit:
Show us the thread with the rule that you can only sale apuruka cars on your first post. If you can't provide a link then STFU and STFD and let the man do his business.

I am only announcing what everyone with brains should already know. Based on the information the seller provided, the whole deal seems really fishy.

If I'm gonna get insulted on Nairaland, at least let it come from someone who knows the difference between 'sell' and 'sale'.

Fhemmmy:
Beast of a machine . . .  Happy Sale

His first post on Nairaland, selling a 2010 highlander (Limted edition!) for 2.7 million Naira and you're saying 'happy sale'?
Abeg retract your words before we start suspecting you too.

cabali:
I am still directed to the 'Apple' store on Ozumba Mbadiwe, V.I. Those guys are criminals from hell!! (ok, maybe not that bad) and there still isnt the option to open an account (nigerian); maybe it aint all cooked yet.

I just created an Appstore account on the Nigerian store.
Change your country at the bottom of itunes to Nigeria and proceed as usual.

KnowAll:
[size=18pt]The driving distance from Yola, Nigeria to Maiduguri, Nigeria is:254 miles / 409 km[/size]


[size=14pt]It surprises me that despite the distance between Yola and Maiduguri being only 254 miles, BK would rather travel all the way to Abuja(525 miles) and bomb it, leaving nearby Yola that has an “ American University” with Americans as lecturers.

Surely if you want to hit on anything western, the American lecturers should the first port of call for any Islamist and not far away Abuja[/size].

Boko Haram is yet to close down any University in Nigeria. they've since stridently denied sending a threatening letter to UNIMAID.
I wouldn't put that UNIMAID Letter past some unscrupulous students who wanted an early holiday

By the way, Nice try. You'll need to actually use your brains a whole lot more if you want to pin this on Atiku

[quote author=ekt_bear link=topic=723256.msg8811767#msg8811767 date=1311907227]Where did he get the # from?

What is the # for christians and other religions? By zone?[/quote]There is nothing barring Christians from using any of the conventional banks. I am yet to hear of any one of the approximately 200000* Christian Gospel preachers in Nigeria railing about the evils of conventional banking. So any Christian not using the conventional banks is doing it for his own reasons.
This is in sharp contrast to the condemnation of interest based banking in the Islamic teaching that likely prevents some devout muslims from using conventional banking services.

[quote author=ekt_bear link=topic=723256.msg8811767#msg8811767 date=1311907227]Why is Islamic banking the solution? I think Katsumoto showed here earlier how in practice this banking system doesn't help the poor very much[/quote]The objective is to provide a widely practised non-interest banking model which is compliant with the sensibilities of muslims, bringing a compliant version of banking to the 'unbanked'. Please do not concern yourself with the 'helping the poor' part


[quote author=ekt_bear link=topic=723256.msg8811767#msg8811767 date=1311907227]It pisses me off how they are trying to equate non-interest banking and islamic, btw[/quote]Can you at least TRY and read the CBN guidelines? Islamic banking is specified as a model of NIB, not the only NIB type. CBN also states that guidelines for other models of NIB will be issued shortly. What's the problem?

koruji:
Islamic Banking can proceed if they want. This system has such a high information requirement that cannot be met on a large scale in the modern world, and YOU HAVE TO PAY INTEREST a.k.a PROFIT RATE on any money you borrow.

As such, the bank has to be either subsidized or remain at the level of small communities. The main potential sources of katakata are the following:

1. Nigeria's money would somehow be used to subsidize this business
2. If they are not following the same disclosure rules
3. If they engage in discrimination against christians
4. Some mallam actualy begins taking the "Islamic" on the banking system religiously
5. Some "conventional banking haram" group starts a violent campaign against regular banks

There is a very good reason why the bank has being loitering around Nigeria since 2003 and there is a reason why Sanusi & his cohorts are all of a sudden galvanized.

I am only sorry for the gullible true-believers who think these people are trying to do them a religious favor. If they have ears let them hear: This bank is not for paupers, it is for the rich to get richer. Period!

Visit this site and you would think the contents were 2011s, but you would be wrong. There are dates on some of the items - dates to 2008: http://www.jaizinternationalplc.com/www.jaizinternationalplc.com/index.html

You bring up highly speculative (and several unlikely) reasons and then base your analysis on this weak foundation. Please endeavor to base your opposition on facts and sound logic.

Seun:
I love me a president that can make a u-turn instead of stubbornly driving the whole country into a ditch.

Now you're veering into the realm of sycophancy. What u-turn? He is merely claiming that the original idea was not his. Did you hear him insist he'll drop the idea for good?

ikooko:
Hello guys, i don't know if anyone has read a copy of CBN ACT? I did and i found this. If this is correct, then SLS is either acting in ignorance or deliberate.


Supplement to Official Gazette Extraordinary No. 26, Vol. 78, 25th June, 1991 – Part A
CENTRAL BANK OF NIGERIA DECREE 1991

50. - Except with the written consent of the Governor, no bank shall hereafter be registered
under the provisions of any Federal legislation by a name which includes any of the
words “Central”, “Federal”, “Federation”, “National”, “Nigerian”, “Reserve”, “State”,
“Christian”, “Islamic, “Moslem”, “Quaranic” or “Biblical”.
http://www.cenbank.org/out/publications/bsd/1991/cbnact.pdf

The article starts with 'Except with the written consent of the Governor'.
Guess who the CBN Governor is?

if you have problems understanding written English, we can donate cash to send you to an adult education school for intense coaching.