16.04.2010 - Nigeria’s Islamic banking dilemmas
From Businessdayonline.com: While we welcome ‘interest-free’ banking alternative, it is important to highlight additional potential challenges that are either being swept under the carpet or have not even been contemplated. First is the lack of a secondary market which would enable Islamic banking and finance (IBF) to expand their product range and grow their business. Without the ability to generate capital and hold liquid assets to foster a secondary market, IBFs will not be able to seriously grow a credit market, Islamic bonds, expansion of takaful insurance (‘joint guarantee’ in Arabic), and development of capital management services.......................Full Article: Source