WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2011-07-25 Time: 11:00:02 Posted By: News Poster
By Tony Iredia
As a young student, it was clear to me that my old school-Loyola College Ibadan- was not set up by the Catholic Church to primarily convert people to its faith. This is because our non-catholic colleagues were never coerced to become Catholics. Instead, we were all trained in such a way that if providence took us to any leadership position in the nation, we should be able to run public affairs with the fear of God at the back of our minds. There is no doubt that Muslims have a similar motive for setting up schools like my cousin’s Ansa-ud-deen Grammar School, Lagos. Accordingly, we must give credit to religious bodies which purposely create a framework for the emergence of moral teachers and spiritual reformers in society.
It is against this background that we heartily welcome to Nigeria, Islamic banking- a concept which we hear, prohibits the financing of societal vices like alcohol, gambling, speculation, prostitution, pornography and armaments. Since no right-thinking person would support any of such vices, it is intriguing that some people are opposing the introduction of the bank to Nigeria. The other merit of Islamic banking is that it also prohibits interest (Riba). That’s a good one because no one would prefer to patronize a bank which virtually extorts people by charging as high as 20% interest rate on a loan. Indeed, who wants to pay all those inexplicable commissions such as the one imposed on what is called ‘turn-over’ or even the VAT on it? For me, the only reason I transact conventional banking business is because there is no alternative. My account would fly away from my current bank the moment I know of another bank that is less oppressive. This to me is simply economic rationality which religious sentiments cannot over-turn.
If those who belong to the same faith with me would not be comfortable with my stand point, the way out is for them to set up, a catholic bank whose operations would provide me with a better option than the current conventional banking which is always a rip off no matter the transaction. Otherwise, they will only see me in the church during service while my Muslim friends will see me in their bank and help me to protect my hard earned money. If however any other banking form be it Hindu or Aladura etc, with better conditions is thrown up, I’m off again. I will certainly have nothing to do with the religion of the owner of my bank because for me, banking is nothing more than a financial transaction. Thus it makes sense that we are among the first prospective customers awaiting the coming of the phenomenon known as Islamic banking.
The call the other day by some Bishops on the National Assembly to bar Islamic banking is interesting. First, it was made to a democratic body which believes in the power of the majority. Do we have more Christians than Muslim legislators? Second, the allegation that Sanusi Lamido, the current Governor of the Central Bank (CBN), wants to islamise Nigeria’s banking landscape is also not factual. This is because Islamic banking is not his creation. According to a recent statement credited to the CBN spokesperson, the subject had been a policy during the tenure of Charles Soludo adding that at least one institution -Jaiz International Bank Plc- had well before now secured an approval in principle to operate as an Islamic Bank. Third, if we must diversify Nigeria’s banking system, other forms different from conventional banking must be allowed. Luckily, the CBN guideline on the framework for the Regulation and Supervision of Institutions Offering Non-Interest Financial Services in Nigeria states that non-interest banking is not limited to Islam. If therefore other forms by any other religion, group or sect are welcome, Islamic banking should not give any leverage to Muslims to warrant protests from other interest groups. All that any aggrieved group needs to do is to evolve its own banking model and apply for a license to operate it instead of getting agitated by the move of others to have a bank that suits their disposition. To do so amounts to outright intolerance. Nigerians need to develop a more robust capacity to give and take and depart from the narrow mindedness of the past which made some of us to reject western education while those who accepted it sent only their servants to school. Who became prominent in later years?
Opposition by some of us non-muslims to the introduction of Sharia during the Constituent Assembly debates of the 70s is another example. Events have since proved that the opposition was in ignorance as no non-muslim has been obliged to abide by its tenets. Christians and Muslims must therefore learn to stop opposing whatever each of them desires. That there is so much that each can gain from the other is an interesting lesson we learnt a fortnight ago at one comedy show. The comedian thrilled us on what he likes about his Muslim colleagues. He said that what put the fear of God in his sub consciousness was that wherever he goes, he sees so many Muslims praying, five times every day. The second concerns fasting and feasting. The comedian revealed that although he does not get involved in the fasting aspect, he visits his Muslim friends every evening to partake in the lavish buffet of breaking the fast. The third benefit has to do with public holidays. Here, the comedian said he prays always for Muslims not to see the moon on certain days so that our next public holidays can fall on either Thursday or Friday or Monday and Tuesday making us all have long holidays
Comedy aside, our premise is that no matter its shortfalls, Islamic banking has its benefits. One of it is that it can facilitate affirmative action by assisting women with weak capital base to gain access to capital to engage in active business thereby altering the exclusion in the past of many women from accessing loans and professional financial advice. In addition, Islamic banking is an international phenomenon. South Africa for example, has the Al-Baraka Bank which offers only Islamic products and services. In the United Kingdom, there is the Islamic Bank of Britain. Indeed some conventional British banks like HSBC and Lloyds have dedicated windows for Islamic banking. The same is true of banks in France and Switzerland which are not Muslim countries. Should we oppose it in Nigeria? No. Rather, let it come along with other forms so that we can have a choice. If the ‘Ayes’ have it, those against can patronize the one they like. That is what freedom is all about.
Original Source: 
Original date published: 24 July 2011
Source: http://allafrica.com/stories/201107250938.html?viewall=1