The Development of Islamic Banking and Finance in Nigeria: Challenges for Jigawa State

• Main Authors: Ahmad Azrin, Adnan, Baba Uba, Ibrahim
• Format: Article
• Language: English
• Published: 2018
• Subjects: HB Economic Theory
• Online Access: http://eprints.unisza.edu.my/6938/1/FH02-FESP-18-13386.pdf; http://eprints.unisza.edu.my/6938/

: In the recent years Islamic banking and financial industry received an increased global attention with tremendous proliferation not only among Muslims but also amongst non-Muslim communities. Despite the fact that Jigawa State of Nigeria is dominated by a Muslim population that supposed to be conducting their financial transactions in compliance with the shari’ah, as achieved in most Islamic countries and others globally, unfortunately Islamic banking and financial institutions are yet to be established in the state. This paper aims to highlight on the challenges of Islamic banking and finance products in Nigeria, particularly Jigawa State, using the content analysis method. The major findings are that so many challenges towards establishing Islamic banking and financial institutions exist in the state and there is need to strive harder to overcome the challenges at the state level and nationally. Recommendations were offered on how to move forward and enhance the situation