The Central Bank of Nigeria, CBN, said that plans are underway to extend the non-interest banking or Islamic banking principles to non-banking financial services. Some non-bank financial institutions, such as insurance companies, fund managers stockbroking firms have already introduced to the market products designed after the Islamic banking model.
Speaking at the 16th annual CBN seminar for financial market journalists in Adamawa state, Special Adviser to the CBN Governor on Non-Interest Banking, Dr. Bashir Umar said that the apex bank will ensure that the proposed introduction of non-interest financial services will not be limited to banking services alone……………………………………….Full Article: Source