Nigeria: CBN Sets N10 Billion Capital Base for Islamic Banks

23 June 2011

Lagos — The Central Bank of Nigeria, CBN, yesterday announced minimum capital base of N10 billion for National Islamic Banks and N5 billion for regional Islamic Banks.

CBNDeputy Governor, Financial Sector Surveillance (FSS), Dr Kingsley Moghalu, announced this while addressing journalists in Lagos at a seminar on Non-Interest Banking in Nigeria organised by BusinessDay and Apostles in the Market Place.

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