Nigeria: Nation is 40 Years Behind in Islamic Banking

Alhaji Sani Aminu Dutsinma is a financial analyst and politician and the former State Co-ordinator of poverty eradication programme in Katsina State. He gives his strong oppinion about Islamic banking and other issues related to Nigeria's economic policies.
He states that non-interest banking is a universal concept of banking which has been introduced for more than six to seven decades ago. He also underlined the fact that there were some few obstacles within the Banking and Other Financial Institutions (BOFI) Act then which restricted naming a bank Islamic, Christian, biblical or Qur'anic. He affirms that the idea was to build a bank that is in conformity with what is being practiced in USA, UK, Saudi Arabia and South Africa and over 75 countries around the world today.

You may also like...