{"id":448088,"date":"2011-06-27T05:41:13","date_gmt":"2011-06-27T05:41:13","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/27\/cbn-allays-fears-on-islamic-banking\/"},"modified":"2011-06-27T05:41:13","modified_gmt":"2011-06-27T05:41:13","slug":"cbn-allays-fears-on-islamic-banking","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/27\/cbn-allays-fears-on-islamic-banking\/","title":{"rendered":"CBN allays fears on Islamic banking"},"content":{"rendered":"
\n

By Demola\u00a0\u00a0 Akinyemi
Ilorin\u2014 The CentralBank of Nigeria, CBN, has allayed fears that the introduction of non-interest banking into the system would turn Nigeria into an Islamic country, stressing that Islamic banking is one of so many non-interest banking systems contained in the CBN laws.<\/p>\n

Deputy\u00a0 Governor,\u00a0 Economic\u00a0 Policy\u00a0 of CBN, Mrs\u00a0 Sera\u00a0 Omotunde\u00a0 Alade,\u00a0 said this, weekend, in Ilorin while speaking with newsmen\u00a0 at a retreat organised for the Financial Market Department with the theme: \u201dTransforming the Nigerian Financial Market: Prospects and Challenges.\u2018\u2019<\/p>\n

According to her, apart from the Islamic banking, which is a non interest banking system contained in the laws\u00a0 of the bank, there are other forms of non-interest banking for which interested parties can come forward to get\u00a0 licence.<\/p>\n

She said what was contained in the law\u00a0 is non-interest banking\u00a0 which is synonymous to Islamic banking but that giving licences to operate Islamic banks does not have anything to do with changing the country into an Islamic nation.<\/p>\n

Alade also said what the country was interested in was how to change the face of banking in a way that the economy\u00a0 could grow for the betterment of all Nigerians.<\/p>\n

She urged all Nigerians to\u00a0 see the licensing of the non-interest banking in the country\u00a0 as\u00a0 a new step to move the country\u2019s\u00a0 economy\u00a0 to a greater height.<\/p>\n

She also called on those who are interested in other forms of non- interest banking to come forward for licence from the apex bank.<\/p>\n

On the issue of financing agriculture by the CBN, the deputy\u00a0 governor said the bank had been assisting commercial farmers with the aim of producing in large quantity for export.<\/p>\n

In his address,\u00a0 Director\u00a0 of\u00a0 the Finance Market\u00a0 Department\u00a0 of CBN, Mr Olajide Owolabi, said the CBN created the financial market department in 2010 with the aim of creating a world class market in Nigeria, adding that the department had within this short period achieved a moderate effort in the areas of successes recorded.<\/p>\n

He\u00a0 said\u00a0 the retreat would further assist the department and the bank in reviewing their performance\u00a0 and\u00a0 address the challenges\u00a0\u00a0 created\u00a0 in order to further improve\u00a0 on the efficiency\u00a0 of the financial\u00a0 market .<\/p>\n

Earlier\u00a0 in\u00a0 his\u00a0 address of welcome, Branch Controller, Ilorin Branch, Mr\u00a0 Onoriode Monday\u00a0 Olotewo, said\u00a0 the theme\u00a0 of the conference could not be discussed at a\u00a0 place\u00a0 that is more appropriate than the retreat based\u00a0 on the global meltdown in the recent past that had affected the financial market.<\/p>\n

He said the Nigerian financial market was not insulated rom such problems as as it had been faced with many challenges.<\/p>\n

He urged the participants at the retreat\u00a0 to\u00a0 make good use of the opportunity in ensuring that\u00a0\u00a0 the\u00a0 challenges facing the financial market are overcome .<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

Read more here:
\nCBN allays fears on Islamic banking<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Demola\u00a0\u00a0 Akinyemi Ilorin\u2014 The CentralBank of Nigeria, CBN, has allayed fears that the introduction of non-interest banking into the system would turn Nigeria into an Islamic country, stressing that Islamic banking is one of so many non-interest banking systems contained in the CBN laws. Deputy\u00a0 Governor,\u00a0 Economic\u00a0 Policy\u00a0 of CBN, Mrs\u00a0 Sera\u00a0 Omotunde\u00a0 Alade,\u00a0 said this, weekend, in Ilorin while speaking with newsmen\u00a0 at a retreat organised for the Financial Market Department with the theme: \u201dTransforming the Nigerian Financial Market: Prospects and Challenges.\u2018\u2019 According to her, apart from the Islamic banking, which is a non interest banking system contained in the laws\u00a0 of the bank, there are other forms of non-interest banking for which interested parties can come forward to get\u00a0 licence<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-448088","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-entertainment"},"yoast_head":"\nCBN allays fears on 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\/06\/27\/cbn-allays-fears-on-islamic-banking\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CBN allays fears on Islamic banking - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By Demola\u00a0\u00a0 Akinyemi Ilorin\u2014 The CentralBank of Nigeria, CBN, has allayed fears that the introduction of non-interest banking into the system would turn Nigeria into an Islamic country, stressing that Islamic banking is one of so many non-interest banking systems contained in the CBN laws. Deputy\u00a0 Governor,\u00a0 Economic\u00a0 Policy\u00a0 of CBN, Mrs\u00a0 Sera\u00a0 Omotunde\u00a0 Alade,\u00a0 said this, weekend, in Ilorin while speaking with newsmen\u00a0 at a retreat organised for the Financial Market Department with the theme: \u201dTransforming the Nigerian Financial Market: Prospects and Challenges.\u2018\u2019 According to her, apart from the Islamic banking, which is a non interest banking system contained in the laws\u00a0 of the bank, there are other forms of non-interest banking for which interested parties can come forward to get\u00a0 licence\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/27\\\/cbn-allays-fears-on-islamic-banking\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/27\\\/cbn-allays-fears-on-islamic-banking\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"CBN allays fears on Islamic banking\",\"datePublished\":\"2011-06-27T05:41:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/27\\\/cbn-allays-fears-on-islamic-banking\\\/\"},\"wordCount\":480,\"commentCount\":0,\"articleSection\":[\"Entertainment\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/27\\\/cbn-allays-fears-on-islamic-banking\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/27\\\/cbn-allays-fears-on-islamic-banking\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/27\\\/cbn-allays-fears-on-islamic-banking\\\/\",\"name\":\"CBN allays fears on Islamic banking - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/#website\"},\"datePublished\":\"2011-06-27T05:41:13+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/27\\\/cbn-allays-fears-on-islamic-banking\\\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN allays fears on Islamic banking - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/06\/27\/cbn-allays-fears-on-islamic-banking\/","twitter_card":"summary_large_image","twitter_title":"CBN allays fears on Islamic banking - Ghanamma.com","twitter_description":"By Demola\u00a0\u00a0 Akinyemi Ilorin\u2014 The CentralBank of Nigeria, CBN, has allayed fears that the introduction of non-interest banking into the system would turn Nigeria into an Islamic country, stressing that Islamic banking is one of so many non-interest banking systems contained in the CBN laws. 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