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CBN’s interest-free banking gains momentum

Posted on 18 July 2011

It seems that the influential governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, is winning the “hearts and minds” debate over the introduction of interest-free (Islamic) banking into Africa’s most populous yet highly sectarian nation.

Following the introduction of new guidelines for non-interest banking by the CBN on 21 June 2011; the issuance of a license to Jaiz International Bank to launch the country’s first interest-free bank subject to fulfilling the bank authorization requirements within six months;………………………………………Full Article: Source

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