Nigeria: CBN Boosts Financial Inclusion With Non-Interest Banking

18 September 2017

Lagos — With huge percentage of the unbanked populace in the country due to religion belief, the Central Bank of Nigeria (CBN) has continued to drive financial inclusion in various ways, by reviewing its guild lines on Islamic Banking (non-interest Banking).

Specifically, the CBN in August set up two new financial instruments namely, "Funding for liquidity Facility (FflF)" and "Intra-day Facility (IDF)" to provide liquidity management for non-interest banks. The two new financial instruments were also designed to help foster growth in emerging Islamic finance industry.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.