The director, Centre for Islamic Legal Studies (CILS) of Ahmadu Bello University (ABU), Zaria, Professor Muhammad Bello Usman, has called for statutory provisions for Islamic non-interest based financial system in Nigeria.
Usman made the call at the opening ceremony of the 19th Annual Judges’ Conference that took place at the Kongo campus of the university with theme ‘Application of Islamic Financial Legislation in the Nigerian Judicial System: Challenges and Prospects’.
He said absence of laws guiding the Islamic non-interest system is posing legal gaps and challenges for the operators, adding that except for the guidelines drawn by the Central Bank of Nigeria (CBN), there is no any legal framework that can guide judges and other stakeholders of the Islamic non-interest banking.
In a remark, a Justice of the Supreme Court of Nigeria, Justice Ibrahim Tanko Muhammad, said justice for all is a critical element for national peace and security.
