News
Prof. Bola Akinterinwa, Acting Director General of Nigerian Institute of International Affairs (NIIA), says the introduction of Islamic banking will further threaten national security.
Prof. Bola Akinterinwa, Acting Director General of Nigerian Institute of International Affairs (NIIA), says the introduction of Islamic banking will further threaten national security.
Akinterinwa made the remarks in Lagos yesterday at the NIIA fifth brainstorming session on Islamic Banking in International Relations: The Case of Nigeria.
“While Islamic Banking does not constitute a major source of threats to national security elsewhere, it does in Nigeria of today,” he said.
According to him, if Muslims are threatening the use of force to ensure introduction of Islamic banking in Nigeria, there will be chaos if Christians respond that no one has monopoly of violence.
Akinterinwa said that this would only bring chaos and that Islamic banking would not thrive in disorderly situation.
“The controversy is being largely driven by religion rather than viability of the bank or by the extent to which Islamic banking can assist national economic growth and development.
“The opponents of Islamic banking have the fear that its introduction will provide a platform for Islamic propaganda to the detriment of the interest of non- Muslims in Nigeria.
“Interestingly, one major fear of those opposing Islamic banking in Nigeria is the place of Islam.
“It is rightly or wrongly being considered that Muslims are looking for all manners of ways to Islamise Nigeria,’’ he said.
He said that the CBN guidelines talked about Islamic banking and non-interest banking at the same time, but the two are not necessarily synonymous.
Akinterinwa said that the banking decree and laws in Nigeria did not allow the use of religious name for any bank.
“ There is nothing wrong in having Islamic banking as an additional or alternative banking system, but it is necessary to separate it from religious colouration,” he said.
Dr Ahmad Dogarawa, a Senior Lecturer at Ahmadu Bello University, Zaria, said that Islamic banking was being demanded by Nigerians and its establishment would make the sector more competitive.
He said that the Islamic banks would compel conventional banks to improve their services.
Ahmad said that the success of Islamic banking would provide platform for funds moblilsation and employment generation for unemployed youths.
News
Group Doles out N13m To Market Women In Isiama
News
Fubara’s Return Excites NCSU … As Hope Rises For Civil Servants
News
NDDC Organizes ADR Capacity Building for Staff
-
Maritime3 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
Maritime3 days ago
Customs Cautions On Delayed Clearance, Says Consignees May Lose Cargo
-
Maritime3 days ago
Lagos Ready For International Boat Race–LASWA
-
Maritime3 days ago
NCS Sensitises Stakeholders On Automated Overtime Cargo Clearance System
-
Maritime3 days ago
Shoprite Nigeria Gets New Funding to Boost Growth, Retail Turnaround
-
Politics3 days ago
I Would Have Gotten Third Term If I Wanted – Obasanjo
-
Sports3 days ago
Bournemouth, Newcastle Share Points
-
Sports3 days ago
Zidane’s Son Switches Allegiance To Algeria