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Nigeria: Revisiting Islamic banking

Posted on 08 November 2011

No policy statement by the Central Bank of Nigeria, CBN, has generated so much controversy like the proposed Islamic banking. Since January this year when the apex bank issued the first guidelines on the banking model, the draft framework has continued to receive knocks from many quarters.
Many critics have been lampooning the CBN for what they call its assumption that Islamic banking is synonymous with the profit-and-loss sharing banking model and foisting an Islamic banking practice on a secular country………………………………………..Full Article: Source

 
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