ISLAMIC BANKING AND THE NATION

"But, that’s not why I have returned to the subject! I have returned to it because the rhetoric degenerating and somebody needs to rein in those who speak on behalf of religious groups. I was particularly alarmed by the “robustness” of the language used by one Sheikh Abdurrahman Ahmad, on behalf of a group known as Conference of Islamic Organisation (CIO), at a news conference in Lagos during the week."

IN my last piece, Islamic Banking and the Christian, I made the point that Islamic Banking, in my opinion, is harmless and should therefore not be resisted.

My words: “You see, my take on this Islamic Banking thing, which I wish to commend to my brothers and sisters, is this and it flows from something I have been saying for ages. I have been confronted with this obstructionist secularism in my search for advertising for the magazine I steward, going for all of seven years. The big spenders tell you they don’t want to be branded Christian, so they’ll rather not use our medium to push their goods and services. When I say to them, find a Moslem medium to balance things out, they say no! The result is they put their money in God-neutral outlets, many of which corrupt and, ultimately serve the devil!

“Islamic Banking is interest-free, profit-sharing and ethical banking. How that hurts anyone, I honestly don’t know. There are many money and financial products that are ethical – no investment in alcohol, tobacco etc – and they are doing well. Properly regulated this so-called Islamic banking can do us good. And if we, as Christians, like to start something of our own to compete with it, I guess, we should. If Sanusi then refuses to approve, we would have good reason to scream”.

Since then I have heard the Catholic Archbishop of Lagos, Olubunmi Cardinal Okogie threaten to accept Sanusi Lamido Sanusi’s challenge that opponents of the Islamic banking project should go to court. I also heard him say he might invite the Vatican Bank over to Nigeria. While I have no comments on the court option being illiterate in the law, I certainly would welcome any move towards putting a Christian banking alternative in place!

But, that’s not why I have returned to the subject! I have returned to it because the rhetoric degenerating and somebody needs to rein in those who speak on behalf of religious groups. I was particularly alarmed by the “robustness” of the language used by one Sheikh Abdurrahman Ahmad, on behalf of a group known as Conference of Islamic Organisation (CIO), at a news conference in Lagos during the week.

The Moment newspaper report of the media meet written by Sulaimon Alamutu, read in part like this: “… the allegation being peddled by the leadership of Christian Association of Nigeria (CAN), that introduction of the banking product would Islamise Nigeria was unfortunate describing it as ‘wicked, intellectually-dishonest and provocative.’

“The National Missioner of the Ansar-ud-deen Society of Nigeria, Sheikh Abdurrahman Ahmad, who led the group…noted that the Nigerian Inter-Religious Council, NIREC, which the President of CAN, Pastor Ayo Oritsejafor is the Vice Chairman, should have been the proper avenue to thrash the issues involved rather than resort to media propaganda. He said the NIREC had been holding meetings on burning national issues, but there had never been a time that the CAN leadership raised any fears about the introduction of the non-interest banking into the country’s financial system.

“‘Let me also state here that we have had Christian individuals and groups who have been dissociating themselves from the campaign of hate that has been dominating in the newspapers.’

“Sheikh Ahmad said the non- interest bank, when fully in operation, would be open to all without discriminating against any group. He explained that multinational financial institutions such as HSBC and Barclays bank all operate non-interest banking windows, wondering why Nigeria should not benefit from the opportunities the system would offer. ‘We advise the leadership of the CAN, ably led by Pastor Ayo Oritsejefor to caution all the branches of the CAN to stop heating up the polity,’ he said.

“He called on the Federal Government to avoid being stampeded by those he described as ‘apostles of hate and bigotry,’ adding that ‘It is unfortunate that religious leaders who are supposed to promote cohesion are at the forefront of heating up the polity.’”

I have checked the statements of Christian leaders on this subject to see how they betray “hate and bigotry”, for instance and I still am, but I am yet to locate any. A sampler:

Cardinal Okogie’s statement, which has been widely reported, reads in part: “efforts to ensure a speedy take off of the scheme... was part of the grand plan to turn Nigeria into an Islamic state. We condemn such moves in all ramifications. We are against the operation of Islamic banking in Nigeria because we see it as another deliberate move to subjugate Christians in Nigeria. Nigeria is a secular state. We must be very sensitive to the religious beliefs of others…Introducing Islamic banking in Nigeria will further aggravate the palpable religious tension in the country already being hoisted by the radical sect Boko Haram.”

The vocal cleric’s position is broadly representative of the views of Christian leaders who have opposed the introduction of the so-called Islamic banking. A fair reading of this statement and the many others I have read would seem to betray a misunderstanding of the concept and/or distrust of the motive of its proponents all within the context of protection of Christian interests within the plurality known as Nigeria.

It has dawned on me that while Islamic banking can correctly be said to be harmless to Christians, as I stated the last time; its introduction at this time; the brazen attitude of Central Bank Governor Lamido Sanusi and the choice of language of the likes of Sheikh Ahmad makes it potentially harmful to the Nigerian State, as we know it.

In the event, may I make the following suggestions: That the CBN stays action on the issue; withdraw the guidelines it issued on Islamic Banking which itself has created an unnecessary dichotomy; amend the general guidelines on banking practices to include non-interest, profit-sharing and ethical banking, which is what Islamic banking is about; and simply make this kind of banks regional. This will allay all fears and still achieve the ends of economic growth, which I like to believe Sanusi and his team are pursuing.