04.07.2011 - Islamic banking: Sanusi stirs the hornetís nest
The planned introduction of Islamic banking has sparked a row, which some experts have dismissed as needless. The ongoing controversy over the proposed Islamic Banking, also known as Non-Interest Banking was triggered by the announcement that the Central Bank of Nigeria (CBN) may have given the go-ahead for JAIZ Bank International Plc to operate as an Islamic bank and the subsequent issuance of final guidelines on Islamic banking. Interestingly, a draft framework for non-interest banking was issued in March 2009 by the CBN and its stance on Islamic banking was not much of an issue, until recently when the final guidelines were released..............................................Full Article: Source
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