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 156
- Downloads 0
The Impact of Macro Economics on Firm Values and Financial Performance as an Intervening Variable: An Empirical Study of LQ-45 Banking Industries in Indonesia
Objective - The Purpose of the paper is to empirically investigate both direct and indirect impacts of the macro economy, which are Exchange Rates, Inflation, Central Bank Rate, as independent variables, on Value Firms (...
The Governance of Accounting Rules and Tax Rules: Analysis of SMEs' Tax Avoidance Strategies
Objective- This study examined the governance of accounting rules and tax rules on the level of tax burdens paid by SMEs in Malaysia. According to the tax gap theory, taxpayers utilize the different rules between account...
Psychological and Academic Self-Concept Among Non-Arabic Speakers
Objective – Self−concept, which is usually defined as the orientation of the learner to the goal of learning the second language, has a major role in language education and is considered an essential component of L2 acqu...
The Impact of Joint Commission International Healthcare Accreditation on Infection Control Performance: A Study in Dubai Hospital
Objective - The United Arab Emirates (UAE) Vision 2021 aims to achieve a world-class healthcare system and the national agenda has set multiple Key Performance Indicators (KPIs) to accomplish accreditation by all healthc...
Intermediary Effect of Intention of ICT adoption on the Relationship of Attitudes toward Adoption and Adoption of VLE among the Malay Language Teachers
Objective - This research aims to explore whether the intention of ICT adoption in teaching Malay language acts as a mediator in the relationship between attitudes toward ICT adoption and the adoption of the Virtual Lear...