Non-interest financial institutions operating under the principles of Islamic jurisprudence are illegal and unconstitutional, a Federal High Court sitting in Abuja has declared. According to Justice Gabriel Kolawole, the license issued to Jaiz International Bank PLC to embark on Islamic banking in the country would have been nullified if the […]
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Whatever euro’s fate, Europe’s reputation savaged
Whether the euro lives or dies, the chaotic way Europe has tackled the crisis could undermine the region’s geopolitical clout for years to come and leave it at a distinct disadvantage in a rapidly changing world. With an apparently never-ending series of last-minute summits and telephone calls, Europe’s leaders and […]
Banks shedding of Non-subsidiaries to block Regulatory loopholes
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE) – Jim Obazee, Executive Secretary/ Chief Executive Officer (EC/CEO) of Financial Reporting Council Thursday said that Nigerian Banks divesting from Non-Banking Subsidiaries will block regulatory loopholes. Obazee said this at the Inauguration of the new Executive Members of the Capital Market Correspondents Association of […]
