Cardinal Okogie Says No To Islamic Banking - Religion - Nairaland
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| Cardinal Okogie Says No To Islamic Banking by Nobody: 9:34am On Jul 01, 2011 |
I've been patiently waiting for the take of my Dear Cardinal on this topical issue of Islamic Banking. As i expected, he did not dissapoint me in his views. "The Catholic Archbishop of Lagos, Anthony Cardinal Olubunmi Okogie, has condemned the ongoing move by Federal Government, through the Central Bank of Nigeria (CBN), to endorse the commencement of Islamic Banking in Nigeria, saying such an action was capable of fueling religious tension in the land. In a release signed by the Director of Social Communications, Catholic Archdiocese of Lagos, Very Rev. Msgr. Gabriel Osu, Cardinal Okogie, said the frantic effort by the CBN Governor, Mallam Sanusi Lamido to ensure the speedy take-off of the scheme, through the promoters, JAIZ Bank was part of the grand plan to turn Nigeria into an Islamic State. “We condemn such move in all ramifications. We are against the operation of Islamic Banking in Nigeria because we see it as another deliberate move to subjugate Christians in Nigeria. “Nigeria is a secular state. We must be very sensitive to the religious beliefs of others. Introducing Islamic Banking in Nigeria will further aggravate the culpable religious tension in the country.” Going down memory lane, the clergy recalled how in the mid 90’s, the military government under General Ibrahim Babangida enlisted Nigeria’s name as a member of the controversial Organization of Islamic Countries (OIC), without due consultation with all other religious groups in the country. “I see some faceless groups trying to smuggle in their sinister agenda through the back door, but it will not work. We all kicked against the enlistment of Nigeria as a member of OIC in 90s. As usual, they came up with several arguments that stand to gain a lot economically. This time too, the CBN is telling every one who cares to hear that the scheme promises non-interest banking, as if it all ends there. Why should they come up with such an idea at this point in time under the tenure of Mallam Lamido Sanusi? “What will happen if Christians should wake up tomorrow and say they want to start a Christian Banking scheme and those in the traditional religious decides to do likewise? We are going to ensure that it does not see the light of the day.” Okogie urged President Goodluck Jonathan and the CBN to quickly rescind the license granted the promoters of the bank, warning that it could cause religious warfare and aggravating the already tensed security atmosphere in the country. “We already have eight ailing banks in the country. The CBN should focus more on how to bring them back to life rather than dissipating energy on a project as Islamic Banking, that was laid to rest in the 90s,” the cleric said." www.sunnews.com |
| Re: Cardinal Okogie Says No To Islamic Banking by hakanai(m): 9:50am On Jul 01, 2011 |
Thats is his opinion and he has a right to it.but it means nothing to me.  So i stick with Islamic banking.So long as it has not and does not harm anyone directly.  |
| Re: Cardinal Okogie Says No To Islamic Banking by Pukkah: 9:51am On Jul 01, 2011 |
Okoro2015: How exactly? The suspicion and rivalry between these two groups are too high. Okoro2015: Nigeria is a secular state only on paper. Why do we sponsor Christians and Muslims on pilgrimages to Israel and Saudi Arabia? Why do we have Sunday, the Christian day of worship, as a work-free day? Why do Federal and state governments build mosques and churches and nothing for Ifa/Orisha/Amadioha worshippers? Okoro2015: I have criticised Sanusi and some of his tactics several times on this forum but let's be very objective please. So is it his tenure you have a problem with? [/quote] No problem. Let whoever wants to have his 'religious' bank have it. However, the CBN should limit its involvement to the regulation of such banks and should not use public funds to bail out such institutions should they fail. The depositors and other customers of the banks should be made aware of this additional risk. And you guys have a way of using traditional religion to balance the equation when it's convenient for you, yet you cast them as demon-filled and evil-spirit led when delivering your sermons in churches and mosques. You sing hymns that denigrate them and yet claim that others are not being fair to you. Do they have public holidays or days of worship? Hmmmm, a secular country indeed! |
| Re: Cardinal Okogie Says No To Islamic Banking by komole: 10:20am On Jul 01, 2011 |
Hey Cardinal! i have grown to respect and admire your courage and outspokenness over 2 decades so don't let all that end in just 2 seconds What harm has the Islamic Banking system got to do with anybody or group? who said your religion should "westernize" all the Orders of the Supreme One? Interest (Usury) related business is Extremely Prohibited in Islam but since our leaders (both Muslims and non muslims alike ) have been too greedy to come out and speak the truth on it all because they have benefited immensely from Interest related business and activities, we have been left with no option than to find ourselves having no other option than to bank in "haram" institutions. The truth is God has Cursed the consumers and partakers of Interest (Usury) activities so its high time we desist from such practice. |
| Re: Cardinal Okogie Says No To Islamic Banking by Nobody: 10:24am On Jul 01, 2011 |
There is need to clarify the misconception in some quaters who constatntly throw up questions like why do we not go to work on sunday? it just so happens that christians go to church in large droves on sunday which happens to be one of the weekend days. Sunday is not declared a rest day so that christians can worship in peace, weekend is inherited from our colonial days in a lot of places in the world,saturday and sundays are weekend days. Though people will say things like afterall saturday and sunday are weekend by christian calendar but that is another arguement for another day. |
| Re: Cardinal Okogie Says No To Islamic Banking by Nobody: 10:50am On Jul 01, 2011 |
In all honesty, sense of comprehension is a gift!. Cardinal Okogie remains the most senior Chief Shepherd of the local Church in Nigeria. A Shepherd takes action when he sees what seems to be a predator in his vicinity. If it turns out not to be a predator, so be it. The beauty of his position is that it was laced with valid reasons. I challenge any of the above posters to list the benefits we have derived after the move by IBB to register us in OIC? With the sustained surge of Boko Haram - An Islamic extremist group who have sent many Christians to their untimely deaths, Is the time ripe for Sanusi to shove this "lofty" idea into our heads? Note that the Cardinal has been on the forefront of restraining Christians from revenging any time your Boko Haram guys attacks. He is simply saying "Sanusi do not rush into this your lofty Idea, Concentrate on rescuing the eight banks you told us were terminally sick, prepare the ground and do a lot of sensitization through dialogue with concerned groups" Which bank loans at zero interest rate? maybe somebody whose interest is being propagated pays the interest otherwise it is not a bank! |
| Re: Cardinal Okogie Says No To Islamic Banking by namfav(m): 11:03am On Jul 01, 2011 |
stoopid man |
| Re: Cardinal Okogie Says No To Islamic Banking by Nobody: 11:15am On Jul 01, 2011 |
namfav: Boy, are you referring to your Chief Imam? |
| Re: Cardinal Okogie Says No To Islamic Banking by Blackteeth(m): 11:32am On Jul 01, 2011 |
I dont see anything wrong with the islamic banking. Let them bring it on. |
| Re: Cardinal Okogie Says No To Islamic Banking by 9dynasty(m): 1:35pm On Jul 01, 2011 |
namfav: what's so stupid in what he said mr. who ever you are? |
| Re: Cardinal Okogie Says No To Islamic Banking by karmrash: 1:44pm On Jul 01, 2011 |
islamic has notin to do without religion setiment, let be enlighten frst wenever we hear any view that has to relate wt religion. saria'ah as bliv to b muslim practice religion sys. it does base on imposition to non muslim, neither it judgment shud it pass on non muslim. there4 non muslim shud beware and nt be concern wether muslim want to dominate any affair. Okogie and other shud be enlighten abt it. |
| Re: Cardinal Okogie Says No To Islamic Banking by Pukkah: 2:26pm On Jul 01, 2011 |
andromida: Please bring on the clarification so that you can clear the 'misconception'. Whereas the Jewish Sabbath is Saturday, the Christian tradition recognises Sunday as the Lord's day or day of rest and worship. I also think the concept of the weekend as is being practiced today started from the Dies Solis (Day of the Sun) which was decreed by Emperor Constantine, and the Biblical Sabbath. So how does this take into consideration today's multi-religious realities? How is this fair/equitable to the scores of non-Christians (Muslims, traditionalists, etc) living in the same so-called 'secular' country? Truly, is Nigeria a secular country? Please don't get me wrong, I am not really advocating a reversal of this in view of the disruption it may have but Christians should also show tolerance when others ask for what they think is legitimate to them like Islamic Banking. Personally, I think that religion is one of the problems of the world but generally, you guys should 'live and let live'. |
| Re: Cardinal Okogie Says No To Islamic Banking by Pukkah: 2:30pm On Jul 01, 2011 |
namfav: Hello, I advise that you should show restraint in the language you use for others especially when they are expressing their opinion on any issue. He is entitled to his opinion anyway, this is a democracy and the good reason of the majority should be allowed to prevail. The other group that wants something done can also win the opposing group over by bringing out the benefits of what they want and allaying the fears of the opposing group. Force does not do it, okay? |
| Re: Cardinal Okogie Says No To Islamic Banking by houvest: 2:33pm On Jul 01, 2011 |
I said it before that there is an agenda involved. The same arguments for OIC about economic benefits, the name dropping by Sanusi of an Igboman involved without revealing that the Igboman was a die hard muslim,etc etc. Signs of an agenda. Christians are assailed by humanistic philosophies about the rights of same sex practitioners from the right, from the centre by Traditional religious practitioners of the glories of revival of satanic cultures and from the left by muslims about the economic benefits of islamic organisations. Time to be really circumspect about these 'beautifully' wrapped offers. The chalices may actually contain poison just like the Greek horse beautifully offered to Troy. |
| Re: Cardinal Okogie Says No To Islamic Banking by kasiem(m): 3:17pm On Jul 01, 2011 |
The problem of nigerians is that we love being idealistic, at the expense of what is obtainable in our environment. I mustn't discountenance the fact that the much touted islamic bank has been advantageous to some extent in some certain countries. But, for any pragmatic fellow, we know what the bank culminate into in our religiously volatile climate. The low level mentality of the muslims in this our country, can degenerate to the extent that they'll start bombing the whole country, with the demand that only islamic banks will be operational in all the northern states. And every staff of the western banks(as they'll clone it) will be ruthlessly hacked to death. will be ruthlessly hacked to death. |
| Re: Cardinal Okogie Says No To Islamic Banking by Pukkah: 3:22pm On Jul 01, 2011 |
houvest: Who are the Christians being assailed about the rights of same sex practitioners? Christians like Rowan Williams, the Archbishop of Canterbury? I want to know, how are traditional religious practitioners assailing Christianity? At least they are not known to sing hymns like 'babalawo's power, powerless power, etc'. So you see, Christianity assailed and is assailing traditional religious practitioners. And you assumed in your post that Christianity is just sitting pretty without lifting a finger, as a mere whipping boy, while being assailed at all fronts. Is this the case in reality? Again, why would you condescendingly describe a religious group as 'revival of satanic cultures'? Can you see the intolerance I was talking about? In today's world, your 'God' is not superior to anybody's 'God' and their 'God' is not superior to yours. Live and let live! |
| Re: Cardinal Okogie Says No To Islamic Banking by Pukkah: 3:31pm On Jul 01, 2011 |
kasiem: You see, it is the law of demand and supply that will resolve this issue. The 24 banks in Nigeria have about 5,800 branches, how many of them are in the North? Out of 849 microfinance banks which the CBN had licenced as at January 2009, only 170 were in the North (Abuja inclusive). Don't be surprised when you see the same trend even with Islamic Banking. |
| Re: Cardinal Okogie Says No To Islamic Banking by maclatunji: 4:10pm On Jul 01, 2011 |
Vatican offers Islamic finance system to Western Banks The Vatican says Islamic finance system may help Western banks in crisis as alternative to capitalistm. The Vatican offered Islamic finance principles to Western banks as a solution for worldwide economic crisis. Daily Vatican newspaper, 'L'Osservatore Romano, reported that Islamic banking system may help to overcome global crisis, Turkish media reported. The Vatican said banks should look at the ethical rules of Islamic finance to restore confidence amongst their clients at a time of global economic crisis. "The ethical principles on which Islamic finance is based may bring banks closer to their clients and to the true spirit which should mark every financial service," the Vatican's official newspaper Osservatore Romano said in an article in its latest issue late yesterday. Author Loretta Napoleoni and Abaxbank Spa fixed income strategist, Claudia Segre, say in the article that "Western banks could use tools such as the Islamic bonds, known as sukuk, as collateral". Sukuk may be used to fund the "'car industry or the next Olympic Games in London," they said. They also said that profit share, gained from sukuk, may be an alternative to the interest. They underlined that sukuk system could help automotive sector and support investments in infrastructure area. Islamic sukuk system is similar to bonos of capitalist system. But in sukuk, money is invested concrete projects and profit share is distributed to clients instead of interest earned. Pope Benedict XVI in an Oct. 7 speech reflected on crashing financial markets saying that "money vanishes, it is nothing" and concluded that "the only solid reality is the word of God." The Vatican has been paying attention to the global financial meltdown and ran articles in its official newspaper that criticize the free-market model for having "grown too much and badly in the past two decades." The Osservatore's editor, Giovanni Maria Vian, said that "the great religions have always had a common attention to the human dimension of the economy," Corriere della Sera reported today. http://www.worldbulletin.net/index.php?aType=haberArchive&ArticleID=37814 The Cardinal is being naughty? He should tow the line of his superiors at the Vatican and stop being an alarmist and a selfish politician. I may report him to the Pope for serious disciplinary action. How can you go against your principal? Is he more Catholic than the Pope? |
| Re: Cardinal Okogie Says No To Islamic Banking by naijaking1: 4:17pm On Jul 01, 2011 |
Cardinal Okogie is probably one of the most respected christian leaders in Nigeria and beyond. We're not talking about PFN Kaduna here, we're talking about nationwide. Islamic banking has always been around all over the World, and in Nigeria too, but this is the first time the federal goverment through the CBN is becoming an active sponsor, and that's the problem. Promoting one religion over another using the instrument of the goverment. "Oh, it's only for muslims, and christians don't need to worry" they say. How about sharia that's supposed to be for muslims only, now christians are being arrested here and ther by hisbah in Kano, because they practice their own faith. Islamic fundamentalists like Sanusi have not really said where they're taking all of us, and thanks to Okogie for the clarion call on docile and lazy christian population who believe in turning the other cheek. Very soon, there'll be no cheek to turn, because the evil muslims believe in cutting off the whole head  |
| Re: Cardinal Okogie Says No To Islamic Banking by saljams: 4:52pm On Jul 01, 2011 |
Why is it you people are against it?, are you an economist or what and if South Africa, Kenya, Italy why not Nigeria, where Muslims are even the dominant? i beg leave us alone, and kudos to Sanusi Lamido Sanusi (SLS) |
| Re: Cardinal Okogie Says No To Islamic Banking by naijaking1: 5:28pm On Jul 01, 2011 |
^^^^ Who told you muslims are dominant in Nigeria? Because they have persistently planned coups and ran the goverment and manipulated figures doesn't actually mean they are dominat. Reality bites. Unlike the countries, you have quoted, Nigeria will be the only one whose central bank is ran by a crazy muslim zealot bent on using whatever means at his disposal to further his religious belief. |
| Re: Cardinal Okogie Says No To Islamic Banking by tpia5: 5:28pm On Jul 01, 2011 |
if i were a banker right now i'd be praying and fasting. |
| Re: Cardinal Okogie Says No To Islamic Banking by Nobody: 6:37pm On Jul 01, 2011 |
Those referring to Papal or Vatican Newspaper position on Islamic Banking missed the point. Nobody is saying that the spirit and letters of Islamic Banking Operation is not beneficial and i understand the Pope was urging Europe to buy into that to salvage the economic crisis, you were therefore portraying his position out of context! There is a world of difference in the European context and what is obtainable here. Nigeria is a highly Volatile Country which can be easily ignited by religious sentiments especially by our Muslim brothers. (Gideon Asoluka from my area as a case study) The Cardinal has expressed the reservations of the local church and indeed that of most Nigerians of discerning minds. He is therefore speaking in the Nigerian context. The way Sanusi and his cohorts are going about this smacks of suspicious intent and it behoves on the Chief Cleric to speak. Unfortunately, as one of the commentators noted here, there may not be any chick to slap as in most cases, these perpetrators of violence prefers cutting off the head! when the situation gets out of hand. Bad luck for them these days, Tooth For Tat |
| Re: Cardinal Okogie Says No To Islamic Banking by dankol: 7:14pm On Jul 01, 2011 |
And wat is jonathan doin abt d mata. Wil he watch as sls sell us to sharia with islamic banking as d currency! |
| Re: Cardinal Okogie Says No To Islamic Banking by maclatunji: 8:48pm On Jul 01, 2011 |
@okoro2015, see how you are thinking! You are actually suggesting that we Nigerians are sub-human just because you want to win an argument. You should bury your head in shame! |
| Re: Cardinal Okogie Says No To Islamic Banking by maclatunji: 8:56pm On Jul 01, 2011 |
@okoro2015, see how you are thinking! You are actually suggesting that we Nigerians are sub-human just because you want to win an argument. You should bury your head in shame! |
| Re: Cardinal Okogie Says No To Islamic Banking by maclatunji: 8:57pm On Jul 01, 2011 |
@okoro2015, see how you are thinking! You are actually suggesting that we Nigerians are sub-human just because you want to win an argument. You should bury your head in shame! |
| Re: Cardinal Okogie Says No To Islamic Banking by EzeUche(m): 8:57pm On Jul 01, 2011 |
I agree with the Cardinal! They are trying to Islamicize Nigeria. |
| Re: Cardinal Okogie Says No To Islamic Banking by aljharem3: 9:02pm On Jul 01, 2011 |
this is ignorance at its best most of u all and even the man called cardial does not know what it entails no interest bank as it is haram to Islam thats all EzeUche:# who are they  |
| Re: Cardinal Okogie Says No To Islamic Banking by EzeUche(m): 9:04pm On Jul 01, 2011 |
alj_harem: Who do you think? This is a SECULAR country. The Northern states practicing Sharia Law are committing an illegal act as well. |
| Re: Cardinal Okogie Says No To Islamic Banking by aljharem3: 9:11pm On Jul 01, 2011 |
EzeUche: no no no i would tell u states in the south that practise sharia your beloved economic and commercial hub of west africa LAGOS Oyo Osun this states have sharia courts in them and thus muslims there practise sharia being a secular country does not mean we can not practise sharia, i mean Christians still practise holy commounion isn't it so why can we do the same u all do church marrages so why can we do the same u do banking so why can we do the same according to our religion and i do not see any illegality there please answer |
| Re: Cardinal Okogie Says No To Islamic Banking by 1luvkipsus: 10:32pm On Jul 01, 2011 |
For God's sake,why are we (Christian) making mountain out of every ant hole?What or who stops Christians from starting their own bank?The sad thing is that these christian leaders sit in their air-conditioned offices far away from volatile regions & continue to make inflammatory remarks capable of causing disharmony btw christians & muslims,& as always,only the poor innocent christians bear the brunt.These leaders should talk less and do more for the betterment of fellow christians.Islamic banking SECONDED if that is what muslims want!! |
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