2019-04-12 | BSD/DIR/GEN/LAB/12/011/7

Guidelines on the Management of Investment Account Holders for Non-Interest Financial Institutions in Nigeria

The Central Bank of Nigeria (CBN) issues guidelines for managing investment accounts in non-interest financial institutions, focusing on Mudarabah and Wakalah contracts. NIFIs must meet specific requirements to recognize PSIA deposits as risk absorbent, including sound investment policies, risk management strategies, and IT systems. The CBN emphasizes the protection of IAHs' rights and the fiduciary responsibilities of NIFIs. Income smoothing techniques are encouraged to manage displaced commercial and rate of return risks.

Nigeria

Central Bank of Nigeria

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