Mixed reactions as first Islamic Bank opens

Mixed reactions have trailed the commencement of the Islamic banking system in the country by Abuja-based Jaiz Bank Plc.
The banking system, which emphasises interest-free loan facilities, was introduced last year by Central Bank Governor, Lamido Sanusi, although no date was given for its commencement.
While Muslims have commended the take-off of Jaiz Bank, some Christian quarters have described the quiet commencement as secretive, with the President of the Christian Association of Nigeria (CAN), Ayo Oritsejafor saying “Sanusi is not a Central Bank of Nigeria governor but the Islamic Central Bank of Nigeria Governor”.
Other Christian clerics described the bank as sponsored by people to create further divide between Muslims and Christians, with some calling for close monitoring of the bank’s activities to avoid it being used to fund terrorist activities. The interest-free loan system was however applauded by a few, who noted that it would help ease the burden on businesses in the country.
The CBN, over the weekend, reacted to allegations that it was the sponsor of Jaiz Bank, saying the rumour was unfounded.
CBN spokesperson, M. Abdullai, confirming that Jaiz Bank had started its operations, said it was the Soludo administration that gave the bank its operating licence under the same guidelines that other banks operate.
“The allegation that Jaiz or Islamic banking is being run by public funds is silly and smacks of ignorance. From where was the money released; the Presidency or the Ministry of Finance? The President is a Christian, the Minister of Finance is a Christian and so is the person overseeing the activities of the Securities and Exchange Commission. So from where was the money released for Jaiz?”