| Controversies trailing the apex bank’s plan to introduce Non-Interest Banking (NIB) otherwise known as Islamic banking in Nigeria have continued by the day. This is despite the apex bank’s issuance of guidelines on this model of banking essentially to regulate the activities of Institutions Offering Islamic Financial Services (IIFS).
And from all indications, there may be no going back on the matter. Already, such regulatory agencies as the Securities Exchanges Commission (SEC), Debt Management Office (DMO), NAICOM, NDIC and FIRS have started setting up regulatory frameworks preparatory to the smooth take off of Islamic banking..............................................Full Article: Source
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