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CBN unveils guidelines for non-interest microfinance banks

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The Central Bank of Nigeria (CBN) Wednesday released a draft guidelines on the regulation and supervision of non-interest (Islamic) microfinance banks (MFBs) in the country.

A Non-Interest (Islamic) Financial Institution (NIFI) means a bank under the purview of the CBN which transacts banking business, engages in trading, investment and commercial activities and also provides financial products and services in accordance with the principles of Islamic Commercial Jurisprudence.

For more on this story visit the following link: CBN unveils guidelines for non-interest microfinance banks

Source: Today

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