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.

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

Who Sterling bank help

Franksomtoo:
Who Sterling bank help

Leverage2021:
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

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.

Bank wey kukuma get only one customer before. Mtcheeeeew!

Tooh, Waiting...

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

So they can openly fund isis
As islamic bank

This country has gone to the dogs

Leverage2021:
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

It cannot be a coincidence that it is happening now. So they launder their dirty money and fund terrorism at the same time.

Not suprised.

Stupidity is when your Pastor is buying private jet and you are busy critizising Islamic banking

Franksomtoo:
Who Sterling bank help

First step to hatred Well done

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..

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.

This is good news.

Islamic banking is actually good.

Terrorists will like this news

ArewaNorth:


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.

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

SUPERPACK:
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.

Please can you explain what it means for a bank to be rebranded as an islamic bank ?
Thanks.