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Islamic banking: Christian leaders threaten court action

Christian leaders rose from a crucial meeting in Enugu yesterday threatening to drag the governor of Central Bank of Nigerian (CBN), Mallam Sanusi Lamido Sanusi, to court over the contentious Islamic banking.
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BB warns Islamic banks

The central bank yesterday warned that Islamic banks must not be involved in terror financing, money laundering or any other illegal activities that damage their image....
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Islamic Finance : Separating myth from reality

Over the past decade, Islamic Finance has become a burning and topical issue around the world (Europe, Middle East and Asia) and has most recently reached Nigeria, over the introduction of the Islamic Banking model to the financial industry by the Central Bank of Nigeria. This has generated outcry from some quarters and a not so unexpected media frenzy....
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Islamic law bans taking, giving interest

The Islamic banking industry first developed in the United States in the 1960s, but its roots go back much further. The Quran prohibits taking and giving interest, or Riba al-Nasee´ah, out of a conviction that people should be rewarded for work rather than access to cash. The Quran says, “You who believe, heed Allah and write off ...
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Tatarstan leader hails progress

KAZAN — President Rustam Minnikhanov of Tatarstan, met here yesterday with Mohammed bin Awadh al Hassan, the Sultanate’s Ambassador to Tatarstan, on the sidelines of the 3rd International Islamic Business and Finance Summit in Kazan, which was concluded yesterday....
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Islamic banking industry

Need for development of robust Shariah compliant risk management infrastructure...
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New IFSB chief faces challenging task

Jaseem Ahmed officially took over at the beginning of this month as the new secretary general of the Kuala Lumpur-based Islamic Financial Services Board (IFSB), the prudential and supervisory standard-setting organization for the global Islamic financial industry. ...
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Qatari banks' credit quality remains high

Loans and advances of the Qatari banking sector grew by 8.5% year-on-year to reach QR314.4bn as at March 2011. ...
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Egypt sacks former PM Obeid as Arab Int'l Bank head

CAIRO:Egypt’s Cabinet removed former prime minister Atef Obeid Thursday from his post as chairman of Arab International Bank (AIB), a specialized financial institution exempt from Egyptian banking regulations....
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Analysis: Islamic banks set to thrive after Qatar ban boost

DUBAI/KUALA LUMPUR (Reuters) - Islamic finance has been given the boost it needed in the Gulf by a Qatari ban on conventional banks offering sharia-compliant services....
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