Enlighten Nigerians On Non-interest Banking – Imam

The Chief Imam of Onitsha, Alhaji Hamza Abdulrahman, has urged the Central Bank of Nigeria (CBN) to enlighten Nigerians on the  benefits of non-interest banking.

Hamza made the call yesterday in Onitsha, Anambra, while speaking on the essence of Ramadan to Muslims.

The Tide source reports that the proposed licensing of non-interest banking has been a subject of public discourse.

Hamza said that when the non-interest banking starts, no matter the name, it would provide enormous financial credit to genuine businessmen and government at all levels.

“In non-interest banking, there is no discrimination since it will have customers from all divides and religious inclinations, who will be given equal treatment.

“There will be no hidden charges or deductions; what you deposit or save is what you withdraw or get back.

“There is no corruption or bank distress within the system. The operators do not engage in unethical practices to get customers for the bank.

“It gives loan without any interest attached to it except that the person borrowing must keep the payment agreement. This will build financial fidelity,’’ he said.

“I know that businessmen in the country, especially the vibrant traders in Onitsha, will benefit from the bank,” Hamza said.