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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Nigeria: ‘Islamic banking not about building mosques, churches’

Posted on 22 July 2011

The Islamic Bank is all about non-interest banking; it is a profit/loss-sharing banking. And if you look at our laws, there is a provision for the establishment of Islamic banks.
Islamic banking has nothing to do with construction of mosques or churches. It is all about going to take money from banks which do not have crescent or cross; it is all about money you are going to take for development. They don’t charge interest but they will charge you commission for services rendered……………………………………….Full Article: Source

 
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