2019-04-11 | BSD/DIR/GEN/LAB/12/011

Issuance of Final Guidelines on Islamic Financial Services Board Standards for Nigerian Non-Interest Financial Institutions

The Central Bank of Nigeria has adopted the Islamic Financial Services Board Standards for the country's non-interest banking industry to enhance financial stability. The bank has issued guidelines for implementation, including guidance notes on regulatory capital, capital requirements for credit and market risk, supervisory review, and disclosure requirements. A three-month period from July 1, 2019, to September 30, 2019, will be allowed for a parallel run to address any challenges.

Nigeria

Central Bank of Nigeria

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