23.06.2011 - CBN adjusts guidelines on Islamic banking
Following the disquiet that has trailed the structure of Islamic banking since the granting of an approval in principle to the first Islamic bank in the country, the Central Bank of Nigeria (CBN) Tuesday amended the regulation and supervision of institutions offering non-interest financial services in the country. A circular by the apex bank titled: “Re: Framework for the Regulation and Supervision of Institutions Offering Non-Interest Financial Services in Nigeria,” signed by the Acting Director, Financial Policy and Regulation Department, Mr. Chris O. Chukwu, explained that Islamic banking is not the only form of non-interest banking product in the country..............................................Full Article: Source
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