Federal Government to establish non-interest (Islamic) bank
The Federal
Government plans to establish a non-interest (Islamic) bank in the
country, to assist low income earners in the delivery of financial
services at affordable costs.
Umaru Ibrahim,
acting managing director, Nigeria Deposit Insurance Corporation (NDIC),
made the announcement on Wednesday, in Abuja, at a one-day
sensitisation seminar on Non- Interest (Islamic) Deposit Insurance
Scheme.
“It is on record
that one of the ways of alleviating extreme poverty in developing
countries such as Nigeria is the provision of banking services and
adequate credit facilities to vulnerable groups,” he said, adding that
the decision to establish the bank was in consonance with the principle
of financial inclusion.
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