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Islamic Finance Briefing - Categorized | Banking, Emerging Trends, People more

‘Islamic banking not for political campaign’

Posted on 04 October 2011

Banking and finance experts agreed that non-interest banking was not designed for political campaigns and hotel financing. The banking model, they said, can finance manufacturing, leasing, beneficence loans, deferred payment, prepaid purchases, amongst others.
Those that made presentations at the ongoing seminar of the Central Bank of Nigeria (CBN) on non-interest banking in Nigeria included Abubakar Sadiq Abdulkarim, head, non-interest banking, Keystone Bank, who said the banking model would not finance political campaigns due to their speculative nature, just as it was not designed to finance Casinos, hotels or businesses that have to do with pornography……………………………………….Full Article: Source

 
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