Publication: Regulatory And Prudential Supervision Framework Of Islamic Banking System In Nigeria: Lesssons From Malaysian Experience
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Date
2014
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal Of Contemporary Applied Science
Abstract
In order to reduce risks to the soundness of the banking system and enhance banks’ role as
active players in the development of the economy, effective prudential supervision is
necessary and desirable in an Islamic banking framework as in conventional banking.
Therefore, the objective of this paper is to examine the regulatory and prudential supervision
framework of Islamic banking system in Malaysia in order to draw lessons for Nigerian
Islamic banking system, taking into consideration the Nigerian environment. The paper is
both descriptive and exploratory which employs qualitative research methodology with
presentation based on documents review. The paper however suggests that comprehensive
study of Malaysian Islamic banking system practices is required by Nigerian Islamic banking
regulatory authority. The study will have policy implication to the Central Bank of Nigeria
(CBN), and will also be a source of reference for academicians, students, practitioners and
other countries in formulating the similar concept of Islamic banking system.
Description
International Journal of Contemporary Applied Sciences Vol. 1 No. 1 September 2014
Keywords
Islamic banking system,, regulatory,, prudential supervision,, Bank Negara Malaysia (BNM),, Central Bank of Nigeria (CBN)