Islamic banking gaining foothold in Nigeria
The banking sector in Nigeria has hardly had time to digest the "Guidelines on Shariah Governance for Non-interest Financial Institutions in Nigeria" and the "Framework for the Regulation and Supervision of Institutions Offering Non-interest Financial Services in Nigeria" published by the Central Bank of Nigeria (CBN) on Dec. 31, 2010 and Jan. 12 2011. The regulator has already been forced to defend its action of introducing Islamic banking into the country.
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