{"id":11190,"date":"2011-12-11T23:00:00","date_gmt":"2011-12-11T23:00:00","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/12\/stanchat-eyes-nigeria-for-islamic-banking\/"},"modified":"2011-12-11T23:00:00","modified_gmt":"2011-12-11T23:00:00","slug":"stanchat-eyes-nigeria-for-islamic-banking","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/12\/11\/stanchat-eyes-nigeria-for-islamic-banking\/","title":{"rendered":"StanChat eyes Nigeria for Islamic banking"},"content":{"rendered":"

Standard Chartered is\u00a0discussing with regulators\u00a0to offer Islamic banking services in Nigeria and Oman, now that both countries are revamping their regulatory environments to encourage Islamic finance, the bank\u2019s global head of Islamic banking yesterday.<\/span><\/p>\n

Wasim Saifi, according to Reuters News, said the firm, which already has a strong conventional presence in both markets, was waiting for the countries to finalise their regulatory frameworks for Islamic banking but could offer the services in Oman and Nigeria as early as next year.<\/span><\/p>\n

\u201cWe are definitely evaluating the possibility of offering Islamic banking in Oman and Nigeria,\u201d Saifi told reporters. \u201cThe opportunity is tremendous. We are in discussions with regulators.\u201d<\/span><\/p>\n

Nigeria\u2019s central bank has been pushing to boost Islamic banking in West Africa\u2019s largest economy. The central bank has approved the creation of the country\u2019s first Islamic bank, Jaiz Bank, and Nigeria will seek to launch a debut sovereign sukuk in the next year.<\/span><\/p>\n

Oman said in May that it would open the door to Islamic banking and let conventional lenders run sharia-compliant operations in a bid to keep investment funds in the Gulf state.\u00a0<\/span><\/p>\n<\/p>\n

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\nStanChat eyes Nigeria for Islamic banking<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Standard Chartered is\u00a0discussing with regulators\u00a0to offer Islamic banking services in Nigeria and Oman, now that both countries are revamping their regulatory environments to encourage Islamic finance, the bank\u2019s global head of Islamic banking yesterday. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11190","post","type-post","status-publish","format-standard"],"yoast_head":"\nStanChat eyes Nigeria for Islamic banking - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/12\/11\/stanchat-eyes-nigeria-for-islamic-banking\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"StanChat eyes Nigeria for Islamic banking - 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