April 21, 2019/UBA Plc United Bank for Africa (UBA) has rewarded another 20 customers who emerged winners in the second quarterly draw of the UBA Wise Savers Promo with N1.5 million each, bringing the total amount won by 40 customers so far to N60 million. The electronic raffle draw which […]

April 19, 2019/CBN Following the issuance of Exposure Drafts (EDs) of the Guidelines for Pillar 2 Risks (Interest Rate Risk in the Banking Book, Reputational Risk, Credit Concentration Risk, and Business Risk) and Stress Testing in Q2 2018 and the receipt of comments from stakeholders, the Central Bank of Nigeria […]

April 17, 2019/CBN Introduction  Non Interest Financial Institutions (NIFIs) mobilize large percentage of their funds using Mudarabah and Wakalah contracts. In Mudarabah, the bank is acting as the Mudarib (entrepreneur) and the fund providers as the Rabb-ul-Mal otherwise called Profit Sharing Investment Account Holders (PSIAHs). In Wakalah, the bank acting […]