The existence of non-interest banking, otherwise known as Islamic Banking in Nigeria, would give support to achieving stability in the financial system in event of market crash or crisis, an expert has said.
Shaikh Ziyaad Mahomed, Chief Executive Officer, Islamic Finance Institution of South Africa (FISA), noted that because conventional banks are interest-rate dependent, they are susceptible to interest rate volatility, which is capable of upsetting an economy………………………………………..Full Article: Source