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Nairaland Forum / Nairaland / General / Business / Sterling Bank To Operate As An Islamic Bank (1999 Views)
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Sterling Bank To Operate As An Islamic Bank by Yhungsarm(m): 7:19pm On Dec 12, 2021 |
The Central Bank of Nigeria as approved Sterling Bank to be the 4th Islamic Bank in Nigeria. This means they will have a non-interest policy based on Islamic laws. The Islamic policies also ensure they do not give out loans to alcohol brands or fund any company with an alcoholic product. Sterling Bank will now operate as a holding company with is management aiming to copy First Bank and Guaranty Trust Bank, this allows the bank to open a subsidiary account as a non interest bank. They will also operate with strict punishment for those who are into exchange transactions. CBN also gave Sterling Bank the approval to name the subsidiary account as "Alternative Bank LTD". Sterling bank will operate under islaimic guidelines and principles which means they won't sponsor Alcohol, tobacco, ammunition production, among others. |
Re: Sterling Bank To Operate As An Islamic Bank by Leverage2021: 7:28pm On Dec 12, 2021 |
Is Sterling bank not private again Or they are taking a downgrade to Islamic sponsorship of Terrorists Leaving national bank because of the #18bn Terrorists funds circulating by buhari 4 Likes |
Re: Sterling Bank To Operate As An Islamic Bank by Franksomtoo: 7:41pm On Dec 12, 2021 |
Who Sterling bank help |
Re: Sterling Bank To Operate As An Islamic Bank by ArewaNorth: 8:02pm On Dec 12, 2021 |
Franksomtoo: Leverage2021:If your Religion doesn't have enough guidance and jurisdiction, then you don't need to envy others who have complete system and guidance of life. Two fundamental principles of Islamic banking are the sharing of profit and loss, and the prohibition of the collection and payment of interest by lenders and investors. For Muslims a moral code is laid down in the Qur’an and the traditions of Prophet Muhammad. The Islamic belief is that human beings are guided by motivations that are capable of being governed by higher instincts for goodness which their Creator has placed within them; when such instincts are properly guided and supervised, it can lead to a fair and just system of production, exchange and distribution, which in turn becomes the basis of welfare in society. On the contrary, if no proper checks and balances are maintained, these instinctive motivations lead to injustice, exploitation, selfishness, intolerance and a mad race to accumulate wealth. 15 Likes 4 Shares |
Re: Sterling Bank To Operate As An Islamic Bank by gaetano: 8:03pm On Dec 12, 2021 |
Bank wey kukuma get only one customer before. Mtcheeeeew! 1 Like |
Re: Sterling Bank To Operate As An Islamic Bank by talk2hb1(m): 8:22pm On Dec 12, 2021 |
Tooh, Waiting... |
Re: Sterling Bank To Operate As An Islamic Bank by Nobody: 8:28pm On Dec 12, 2021 |
I love islamic banking lets be realistic, non Islamic banking is meant to make you poor through taking high interest. Anyway, Sterling bank did a good job for rebranding into something that will benefit mankind 4 Likes |
Re: Sterling Bank To Operate As An Islamic Bank by Investigative: 8:30pm On Dec 12, 2021 |
So they can openly fund isis As islamic bank 3 Likes 1 Share |
Re: Sterling Bank To Operate As An Islamic Bank by AntiBMC(m): 8:37pm On Dec 12, 2021 |
This country has gone to the dogs |
Re: Sterling Bank To Operate As An Islamic Bank by AntiBMC(m): 8:40pm On Dec 12, 2021 |
Leverage2021: It cannot be a coincidence that it is happening now. So they launder their dirty money and fund terrorism at the same time. |
Re: Sterling Bank To Operate As An Islamic Bank by CrownOfClay724: 9:55pm On Dec 12, 2021 |
Not suprised. |
Re: Sterling Bank To Operate As An Islamic Bank by adem30: 10:07pm On Dec 12, 2021 |
Stupidity is when your Pastor is buying private jet and you are busy critizising Islamic banking 5 Likes 1 Share |
Re: Sterling Bank To Operate As An Islamic Bank by Nobody: 10:12pm On Dec 12, 2021 |
Franksomtoo: First step to hatred Well done |
Re: Sterling Bank To Operate As An Islamic Bank by Nobody: 10:54pm On Dec 12, 2021 |
Why Nigerians dey react like this na?it's the bank choice make Dem do wetin Dem wan do.. Why some come dey talk like this for comment section tho... Muslims are also human being cos no be only Christians get Nigeria..if Dem do small thing una go come online dey complain.. Note:insults won't be accepted from anyone.. |
Re: Sterling Bank To Operate As An Islamic Bank by SUPERPACK: 11:54pm On Dec 12, 2021 |
Make I go dust up my login details, this is the type of loan I have been waiting for. Not the useless ones offered by our so called criminal banks that don't consider harsh business climate and also factor in that business is all about profit and loss. 2 Likes 1 Share |
Re: Sterling Bank To Operate As An Islamic Bank by engrtee(f): 4:58am On Dec 13, 2021 |
This is good news. |
Re: Sterling Bank To Operate As An Islamic Bank by Nobody: 5:03am On Dec 13, 2021 |
Islamic banking is actually good. |
Re: Sterling Bank To Operate As An Islamic Bank by limeta(f): 5:10am On Dec 13, 2021 |
Terrorists will like this news |
Re: Sterling Bank To Operate As An Islamic Bank by Unlettered: 6:21am On Dec 13, 2021 |
ArewaNorth: The same people going against islamic banking system are also the most using Banks like Jaiz. They cant sit back and watch the non interest banking system go past them. Yet their irks come online just to insult anything ISLAMIC. Alot of people dont really understand the policy of an islamic banking system. But because of the word islam, they self-service over it. Smh 3 Likes |
Re: Sterling Bank To Operate As An Islamic Bank by Degrezhaa: 10:03am On Dec 13, 2021 |
SUPERPACK:Please can you explain what it means for a bank to be rebranded as an islamic bank ? Thanks. |
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