Monday 19 August 2013

New rules and products lay groundwork for Nigerian Islamic finance | GulfNews.com

New rules and products lay groundwork for Nigerian Islamic finance | GulfNews.com:

"Nigeria is gradually opening up to Islamic finance, a move that could bring non-interest banking to over 80 million Muslims and develop one of Africa’s fastest-growing consumer and corporate banking sectors.
Home to the largest Muslim population in sub-Saharan Africa, Nigeria is trying to establish itself as the African hub for Islamic finance, which follows religious principles such as bans on interest and gambling.
In recent months, a string of regulatory initiatives have set the groundwork for products such as Islamic bonds (sukuk), insurance (takaful) and interbank lending products, although there is still only a small number of local market participants."

'via Blog this'

No comments:

Post a Comment