SHARIA BANKING
NIGERIA

NIGERIA SHARIA BANKING NIGERIA ISLAMIC BANKING FINANCE


NIGERIA ISLAMIC BANK MURABAHA MUDARABA

In Nigeria, sharia-compliant banking currently accounts for a marginal share of the Nigerian financial sector. Recent estimates expect that Islamic financial assets in Nigeria could reach more soon.

Nigeria is preparing the legal framework for Islamic finance products such as the issuance of Islamic bonds (Sukuk) and in order to help financing Nigeria's SME it will promote Sukuk, Takaful (Islamic insurance) and halal microcredit.

Currently, Nigeria has a number of fully operational Islamic banks which serve retail and islamic corporate banking offering halal financing products such as Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.


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