[PDF] Non Interest Islamic Liquidity Management In The Nigerian Non Interest Banking eBook

Author : Abdul Azeez Maruf Olayemi
Publisher :
Page : 15 pages
File Size : 34,50 MB
Release : 2015
Category :
ISBN :

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One of the major potential challenges before the nascent non-interest (Islamic) banking product in Nigeria is the absence of adequate and viable Shariah-compliant instruments of liquidity management. The availability of the instrument is a sine qua non in the banking system. Conversely, Malaysia being the global hub of the Islamic banking and finance has successfully developed viable instruments for the management of Islamic liquidity. The Malaysian instruments are comparably in juxtaposition with that of the conventional system in terms of sophistication and development. The article advocates for the adoption and adaptation of the Malaysian model of Islamic liquidity management instruments into the Nigerian banking system as a panacea. The research is a qualitative comparative legal study. It aims at proposing solution to the lingering problem of non-interest liquidity management in the Nigeria nascent non-interest banking product.

Author : Abdulwaheed Salihu
Publisher : LAP Lambert Academic Publishing
Page : 156 pages
File Size : 48,64 MB
Release : 2011-10
Category :
ISBN : 9783846528242

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There are multifarious challenges facing the establishment of non-interest financial institutions in Nigeria. The reason for this is not far-fetched, it is because Nigeria is a secular state. Some Nigerian citizens are looking at the Islamic banking model from view-lens of religious reasons, while economic scholars and practioners are looking at non-interest financial institutions as an alternative banking model that would add value to the economy, and facilitate Foreign Direct Investment (FDI) from Middle East, and other parts of the world to Nigeria. The new system is integrated into the economic system of Nigeria by allowing conventional commercial banks to operate Islamic windows in Nigeria. The law that established non-interest financial institutions is anchored on Section 33(1) (b) of the central Bank of Nigeria (CBN) Act 2007 and Sections 23(1); 32(1); 52; 55(2); 59(1) (a); 61 of Banks and Other Financial Institutions Act (BOFIA) 1991 (as amended), the CBN Act 2007, Companies and Allied Matters Act (CAMA) 1990 (as amended). Therefore, non-interest financial system is a new banking model that serves both Muslims and non-Muslims in Nigeria.

Author : Basheer A. Oshodi
Publisher : Routledge
Page : 279 pages
File Size : 12,99 MB
Release : 2016-04-15
Category : Business & Economics
ISBN : 1317181832

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Developing economies such as those in sub-Saharan Africa are searching for realistic economic policy prescriptions. Despite economic growth in countries like Nigeria, poverty and unemployment blight the lives of many, in the midst of plenty. Simultaneously, much neo-classical economic thought is being questioned against the backdrop of global economic meltdown, giving rise to inquiry about more integral approaches to sustainable development. In An Integral Approach to Development Economics, Basheer Oshodi examines modernization theories, dependency theories, world system theories and emerging 21st century economic theories and links a neo-modern mix of economic thought with the practicalities of finance in parts of the World where poverty is rife. In a specifically African setting, over half of the population are Muslims, Oshodi considers Islamic finance in the context of the triple heritage of indigenous culture, Westernized Christianity, and Islam. He argues that the principles of Islamic banking and finance can be integrated with other elements of that heritage, focusing on meeting the challenges of poverty and unemployment. Islamic finance is not just a religiously-oriented, Sharia-compliant, alternative financial model. It can contribute to overall socio-economic transformation and a wider, people-centred approach to economic development. International organizations, financial institutions, reserve banks, policy makers, donor agencies and students will find resonance in this valuable addition to Gower’s Transformation and Innovation Series.

Author : Muhammed Habib Dolgun
Publisher : Walter de Gruyter GmbH & Co KG
Page : 228 pages
File Size : 50,31 MB
Release : 2021-01-18
Category : Business & Economics
ISBN : 3110582902

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Despite noticeable growth in Islamic banking and finance literature in recent years, very few published books in this area deal with supervisory and regulatory issues in Islamic banking – theoretically or empirically – and none with the critical issue of risks involved in liquidity management of Islamic banks. This unique book is the first of its kind in dealing with challenges these financial institutions face in the absence of interest rate mechanism and debt-based financial instruments. The book examines critically issues involve in managing the risk of liquidity management for these types of institutions, including those stemming from Basel requirements. It then offers an alternative regulatory framework more appropriately suited for such banks without compromising safety and security. The book's unique features and innovative dimensions diagnostically differentiate between Islamic banks and conventional banks as related to liquidity management risks. It proposes a risk-sharing regulatory framework that, once implemented, would mitigate risks posed by balance-sheet mismatches. The book aims to assist regulators, supervisors, Islamic finance practitioners, academicians and other relevant stakeholders.

Author :
Publisher :
Page : 5 pages
File Size : 32,84 MB
Release : 2017
Category :
ISBN :

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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.Type of Paper: Conceptual.

Author : Mr.Mumtaz Hussain
Publisher : International Monetary Fund
Page : 35 pages
File Size : 45,62 MB
Release : 2015-06-02
Category : Business & Economics
ISBN : 1513565621

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Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.