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Nigeria: Sharia banking creates multiple consumers of financial services

Posted on 26 January 2011

From Thenationonlineng.net: The move by the Central Bank of Nigeria (CBN) to introduce Sharia banking is generating divergent views. Former Executive Director of Bank PHB, Richard Obire, said it made sense for the CBN to increase the scope of banking choice.
According to him, the platform creates multiple consumers of financial services as it will make banking available to more target markets. He said it can also benefit the economy as sizeable portions of the population are Muslims. “I think the Sharia banking plan will take banking to more people, especially, the Muslim population,” he said……………………………………….Full Article: Source

 
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