***As House passes finance bill for third reading
By Tordue Salem – Abuja
The House of Representatives on Thursday unveiled plans to adopt non-interest banking services in Nigeria as part of efforts to stimulate the nation’s economy.
The resolution followed a motion sponsored by Rep. Kabir Tukura.
The lawmaker, in the course of reading his motion, stressed the need for Federal Ministries of Finance, Agriculture and Commerce to provide a deliberate policy that will encourage Bank of Industry (BOI), Bank of Agriculture (BOA), Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Micro Finance Banks and other Government-owned Financial Institutions to provide non-interest banking to their customers.
He observed that “non-interest banking has become acceptable globally as it is seen to be highly efficient and beneficial, expressed optimism adoption of a non-interest banking (NIB) system will stimulate the nation’s economy”, as he urged the…
Source: Vanguard Newspaper
