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Stanbic Licensed to Offer Nigerian Islamic Banking Services (1)

04/07/2011 02:23:11 PM GMT   Comments ()     Add a comment   Print     E-mail to friend

Stanbic IBTC Bank Plc (IBTCCB), a unit of Standard Bank Group Ltd., won approval from Nigeria’s central bank to provide Islamic banking services in Africa’s most populous nation, Deputy Governor Kingsley Moghalu said.

A preliminary license was awarded to Stanbic last week for a Shariah-compliant banking window, the first one given to a commercial bank in Nigeria, Moghalu said in an interview in South Africa’s capital, Pretoria, on July 1. Islam bans paying and receiving interest. Wire External Story - Read full article here is not responsible for the content of external internet sites

Source: AJP

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