How Far Islamic Banking Has Gone Globally and Nigeria in Particular
Journal Title: GATR Global Journal of Business & Social Science Review - Year 2014, Vol 2, Issue 1
Abstract
Objective- Non interest banking, also known as Islamic banking is a system of banking that does not permit interest to either be given or received by the bank for the maintenance of their customers or client account or any contract between them and their clients. In its operation, it has witnessed rapid expansion globally since first established 30 years ago. In Nigeria, it is a new concept and its establishment has been challenging. This study was carried out with the aim of appraising its operation globally and in Nigeria in particular using the conceptual and theoretical frame work. Methodology/Technique The challenges faced in its operation such as unfamiliarity and wrong perception by the populace, regulatory framework, implementation process, liquidity management, lack of professionals among others are highlighted. The differences between it and the conventional bank are also considered. Findings The study recommends that there is a need to develop research and development units comprising of scholars, marketers, professionals and skilled bankers. Novelty - The Nigeria government and the central bank should not relent in public awareness campaign for wider acceptability as this will benefit the poor member of the community as they will have easy access to interest free loan for small scale business.
Authors and Affiliations
Susan Peter Teru
Keywords
Related Articles
- EP ID EP185579
- DOI -
- Views 129
- Downloads 0
Non-financial Compensation as Determinant of Job Retention
Objective- This study was conducted to identify the relationship between non-financial compensation and job retention. The non-financial compensation elements are recognition, job enrichment and pay equity. Methodology/...
The issue of Assessment Tax Arrears: A Case Study of the Melaka Historic City Council, Malaysia
Objective - The purpose of this paper is to evaluate the relationship between the assessment tax system and tax arrears in Melaka Historic City Council, Malacca, Malaysia. (Local Government) Methodology/Technique - Meth...
Women Teacherpreneurship: Development and Dissemination of Entrepreneurship Modules for Teacher Education Programs in Punjab
Objective – This research is designed to provide knowledge and skills to female teachers to increase their competence to initiate and maintain their own businesses for their economic wellbeing. The study also aims to rai...
The Influence of Innovation Characteristics on Low Loss Microwave Transmission Glass Adoption: A Conceptual Paper
Objective - Based on theoretical considerations, this paper focuses on (1) the adoption level of Low Loss Microwave Transmission Glass (LLMTG), which encompasses as new innovation among users in Malaysia and (2) investig...
Developing Quality Management Measures In Print and Visual Media: Challenges Ahead
Objective - The study aims to explore the opportunities of quality measurement concepts in print and visual media. Methodology/Technique - The study focuses the key issues and concerns related to quality dilution and to...