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Islamic Finance Briefing - Categorized | Banking, Compliance, Tax, Legal, Regulatory more

Nigeria: Central Bank releases guidelines on Shariah banking

Posted on 18 January 2011

From 234next.com: Conventional banks and other financial institutions can offer or sell Sharia-compliant products and services through subsidiaries or branches. The Central Bank of Nigeria (CBN), said that such non interest subsidiary shall be established in line with the licencing requirements for the establishment of a fully fledged non-interest bank or financial institution.
“Similarly, a non-interest window or branch of a conventional bank or financial institution shall be established and operated in line with the guidelines on windows/branches issued by the CBN.”………………………………………Full Article: Source

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