Islamic Banking – Christian groups may apply for own licence

HAVING failed so far to convince the Central Bank of Nigeria (CBN) to withdraw its current guidelines on Islamic Banking, there are indications that some Christian groups may have decided to use a new approach to challenge the apex bank on the issue.


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Investigations by The Moment revealed that instead of continuing to protest against what they perceive to be the CBN’s attempt to use the guidelines to promote Islam over other religions, the Christian groups are now planning to apply to the apex bank for a non-interest banking licence that would allow them set up a bank that would operate in accordance with Christian principles. Continue reading