Elementary concept in Islamic Banking dates back to the mid-1940s. Comprehensive details appeared in the late 1960’s. The first experiment was set up undercover in MitGhamr Egypt, 1963 (the model was German Savings bank modified with Islamic principles. Islamic Development Bank was established in...

The pace of Islamic banking model in the country is fast gaining momentum, just as the Non-Interest Banking unit of Sterling Bank Plc got a $15 million facility from the Islamic Corporation for the Development of the Private Sector (ICD). ICD, a multilateral development financial...

The Federal Government will seek to borrow $25.46bn from multilateral and bilateral development agencies, including the World Bank and the Islamic Development, between now and 2018. Other agencies the Federal Government will resort to for funds to complement the dwindling resources from oil and gas...