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  #7581 (permalink)  
Old 4th July 2011, 09:11 AM
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Default Re: The Banks

Standard Bank Unit Gets License for Islamic Banking Operations in Nigeria - Bloomberg
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  #7582 (permalink)  
Old 4th July 2011, 11:05 AM
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Default Re: The Banks

This is what I am talking about!This is a firm that knows how to do business.

Now imagine that Zenith, GTB,Firstbank and UBA joins them in introducing non-interest banking, will bail-outs not be given to these banks if there is a perceived systemic risk?

Or will u give bail-outs to the commercial arm and exclude the non-interest arm?
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  #7583 (permalink)  
Old 4th July 2011, 11:08 AM
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Default Re: The Banks

[quote=migiets;101265]
Quote:
Originally Posted by Oracle View Post
Guys, I think the mistake Sanusi is making is from the way he talks. People see it as if he is fronting for the non-interest banks. He is meant to set guidelines for the establishment of non-interest banks. He will state what is required by them and they should adhere to it. I think it is manner of presentation!

Is it not possible for Zenith bank, First bank, GTB and other commercial banks to compete with the solely non-interest banks? In that case, If these commerical banks introduce islamic banking products like HSBC did,does it mean that when there is a problem with the commercial banks, there will not be bail-outs for them?

We seem to be looking at non-interest banks as a bank that will be freshly established to support islamic banking. But people tend to forget that to remain in business, U will need to be agressively competitive. If a new banks introduces Islamic products and non-interest banking, If I am the CEO of Zenith or GTB, I will do the same too. We all need to tap into the muslim community if that is what they want. Will U then deny zenith bank or any commercial bank of a bail-out because it has a non-interest arm?[/QUOTE]

This true. I have a presentation and demo with me that was done for one of the big banks (Tier 1) in 2008 for installation of Islamic Banking module for them. Iam sure this was when Soludo introduced Islamic Banking. That bank wanted to be ahead of the competitors by doing both conventional banking and Islamic banking. Any bank that is serious should start looking at this aspect otherwise before they know it, the market will be closed.
Sanusi lacks basic understanding of the polity call Nigeria. He assumed office like a typical Nigerian by insinuating his predecessor achieved nothing and the messiah has come to clear the mess. Now that he has gotten into trouble with Islamic Banking he is now shouting from the roof top- ‘’It is Soludo’s Policy oh; not mine oh!’’

I hope he will be brave enough to tell the public that the present recapitalization policy was also envisaged by Soludo and that the few things that he brought to the CBN are running down indigenous banks, mass retrenchment of bankers and his loud foul-mouthed, backward aristocratic swagger in the form of PR.
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  #7584 (permalink)  
Old 4th July 2011, 11:11 AM
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Default Re: The Banks

Quote:
Originally Posted by Oracle View Post
This is what I am talking about!This is a firm that knows how to do business.

Now imagine that Zenith, GTB,Firstbank and UBA joins them in introducing non-interest banking, will bail-outs not be given to these banks if there is a perceived systemic risk?

Or will u give bail-outs to the commercial arm and exclude the non-interest arm?
Islamic Bank of Britain - Wikipedia, the free encyclopedia

from the link above:

Quote:
The bank [Islamic bank of Britain], however, has not been a commercial success, making continuous losses since its launch. In 2010, with the rate of losses increasing, the bank accepted a capital injection of GBP20 million from Qatar International Islamic Bank at 1p per share - a 96% discount to the 2004 initial listing price of 25p per share. Following a further substantial loss in 2010, QIIB made a recommended offer of 1p per share in March 2011 to buy out the 12% minority.
The bank was bailed out by another Islamic bank, not the the Government.
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  #7585 (permalink)  
Old 4th July 2011, 11:13 AM
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Default Re: The Banks

Quote:
Originally Posted by henry_bonds@yahoo.co.uk View Post

Sanusi lacks basic understanding of the polity call Nigeria. He assumed office like a typical Nigerian by insinuating his predecessor achieved nothing and the messiah has come to clear the mess. Now that he has gotten into trouble with Islamic Banking he is now shouting from the roof top- ‘’It is Soludo’s Policy oh; not mine oh!’’

I hope he will be brave enough to tell the public that the present recapitalization policy was also envisaged by Soludo and that the few things that he brought to the CBN are running down indigenous banks, mass retrenchment of bankers and his loud foul-mouthed, backward aristocratic swagger in the form of PR.
See vexation... I no blame you o jare, Oga James Bond.
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  #7586 (permalink)  
Old 4th July 2011, 11:44 AM
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Default Re: The Banks

Quote:
Originally Posted by knightofdelta View Post
Islamic Bank of Britain - Wikipedia, the free encyclopedia

from the link above:



The bank was bailed out by another Islamic bank, not the the Government.
But what will happen when a commercial bank opens a non-interest arm? Who will bail them out?
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  #7587 (permalink)  
Old 4th July 2011, 11:55 AM
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Default Re: The Banks

Quote:
Originally Posted by Oracle View Post
But what will happen when a commercial bank opens a non-interest arm? Who will bail them out?
Definitely not the Government. That arm will be a subsidiary and the bank will have the option to bail it out, spin it off or ask for another Islamic bank to bail it out. I don't expect the Islamic banks to have a substantial portion of the economy like the commercial banks in the near future.
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  #7588 (permalink)  
Old 4th July 2011, 12:14 PM
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Default Re: The Banks

Quote:
Originally Posted by knightofdelta View Post
Definitely not the Government. That arm will be a subsidiary and the bank will have the option to bail it out, spin it off or ask for another Islamic bank to bail it out. I don't expect the Islamic banks to have a substantial portion of the economy like the commercial banks in the near future.
If the bank poses a system risk, they will and should be bailed out. The truth is that in Nigeria, I don't expect this to ever happen. Generally, no bank should be bailed out anyway.

Otherwise explain to me why other private banks deserve a bail out buy non interest banks don't.
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  #7589 (permalink)  
Old 4th July 2011, 12:39 PM
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Default Re: The Banks

Quote:
Originally Posted by pumping View Post
If the bank poses a system risk, they will and should be bailed out. The truth is that in Nigeria, I don't expect this to ever happen. Generally, no bank should be bailed out anyway.

Otherwise explain to me why other private banks deserve a bail out buy non interest banks don't.
It is just the same way other private banks were bailed out and Microfinance banks were not.
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  #7590 (permalink)  
Old 4th July 2011, 01:04 PM
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Default Re: The Banks

Quote:
Originally Posted by knightofdelta View Post
It is just the same way other private banks were bailed out and Microfinance banks were not.
No. Which Micro-finance bank poses a systemic risk? It is the same reason why UTB was not bailed out. The criteria should be risk and not type of banking.
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  #7591 (permalink)  
Old 4th July 2011, 01:42 PM
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Default Re: The Banks

Quote:
Originally Posted by Oracle View Post
This is what I am talking about!This is a firm that knows how to do business.

Now imagine that Zenith, GTB,Firstbank and UBA joins them in introducing non-interest banking, will bail-outs not be given to these banks if there is a perceived systemic risk?

Or will u give bail-outs to the commercial arm and exclude the non-interest arm?
The whole idea of abolishing universal banking was to ensure that failing subsidiaries can be allowed to fail. Capital is ring-fenced in a subsidiarisation model.

Also, usually when the failure of a bank causes systemic risk, there is a high likelihood of regulatory failure.
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  #7592 (permalink)  
Old 4th July 2011, 01:53 PM
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Default Re: The Banks

Quote:
Originally Posted by pumping View Post
If the bank poses a system risk, they will and should be bailed out. The truth is that in Nigeria, I don't expect this to ever happen. Generally, no bank should be bailed out anyway.

Otherwise explain to me why other private banks deserve a bail out buy non interest banks don't.
In my view, banks like any business should be allowed to fail. If a big is too big to fail, then it's too big!

By adopting a shared profit/loss model, non-interest banks are inherently more risky. What is the difference between private equity, venture capital and non-interest banks? NI banks seem to enjoy all of the upside and non of the downside.

CBN was prepared to bail out ETB until Adenuga recapitalised it.
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  #7593 (permalink)  
Old 4th July 2011, 01:57 PM
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Default Re: The Banks

Quote:
Originally Posted by pumping View Post
No. Which Micro-finance bank poses a systemic risk? It is the same reason why UTB was not bailed out. The criteria should be risk and not type of banking.
Wema, Unity, Finbank, Spring Bank didn't pose a systemic risk.
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  #7594 (permalink)  
Old 4th July 2011, 02:23 PM
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Default Re: The Banks

Quote:
Originally Posted by eniyanman View Post
In my view, banks like any business should be allowed to fail. If a big is too big to fail, then it's too big!

By adopting a shared profit/loss model, non-interest banks are inherently more risky. What is the difference between private equity, venture capital and non-interest banks? NI banks seem to enjoy all of the upside and non of the downside.

CBN was prepared to bail out ETB until Adenuga recapitalised it.
No, CBN did not plan to re-capitalize ETB. This was based on assessment of the risk. CBN clearly started the bank did not pose a risk as the reason for treating them differently.
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  #7595 (permalink)  
Old 4th July 2011, 02:25 PM
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Default Re: The Banks

Quote:
Originally Posted by eniyanman View Post
Wema, Unity, Finbank, Spring Bank didn't pose a systemic risk.
How can you say that? You mean all would have been grand in the industry if these banks failed at that point in time? Now, they don't, but then, they clearly did! Their collapse will have severely impacted the healthy banks with the requirement to bail all the banks out or allow survival of the fittest.
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  #7596 (permalink)  
Old 4th July 2011, 02:28 PM
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Default Re: The Banks

Quote:
Originally Posted by eniyanman View Post
In my view, banks like any business should be allowed to fail. If a big is too big to fail, then it's too big!

By adopting a shared profit/loss model, non-interest banks are inherently more risky. What is the difference between private equity, venture capital and non-interest banks? NI banks seem to enjoy all of the upside and non of the downside.

CBN was prepared to bail out ETB until Adenuga recapitalised it.
Banks should be allowed to fail if you have the structure in place to absorb the shock. It is unwise to allow a bank to save a bank by injecting say 1% of your GDP, when the resulting crisis will cost you 20% of your GDP! Too big to fail is not a selective choice sometimes.
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  #7597 (permalink)  
Old 4th July 2011, 02:29 PM
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Default Re: The Banks

Quote:
Originally Posted by eniyanman View Post
The whole idea of abolishing universal banking was to ensure that failing subsidiaries can be allowed to fail. Capital is ring-fenced in a subsidiarisation model.

Also, usually when the failure of a bank causes systemic risk, there is a high likelihood of regulatory failure.
Yes, and this is the point. If you have the right structure, any organization can be allowed to fail. This was missing and necessitated the bail-out in my view.
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  #7598 (permalink)  
Old 4th July 2011, 05:16 PM
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Default Re: The Banks

Quote:
Originally Posted by migiets View Post
SLS should have left it as NON INTERST BANKING and not creating confusion with the name Islamic Banking, he wanted to campaign with it that he brought/fought for Islamic banking

REGULATOR!
Quote:
Originally Posted by Oracle View Post
Sanusi shouldn't see this as a war between religions. He should be neutral in this. He should set guidelines and procedures on how non-interest banking would be realized. he should encourage other commerical banks to engage in that line of banking for the sole reason that it is a business venture.
has he ever been?
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  #7599 (permalink)  
Old 4th July 2011, 05:20 PM
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Default Re: The Banks

Quote:
Originally Posted by Oracle View Post
But what will happen when a commercial bank opens a non-interest arm? Who will bail them out?
dem go cut off the arm first.
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  #7600 (permalink)  
Old 4th July 2011, 05:22 PM
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Default Re: The Banks

[quote=henry_bonds@yahoo.co.uk;101277]
Quote:
Originally Posted by migiets View Post

Sanusi lacks basic understanding of the polity call Nigeria. He assumed office like a typical Nigerian by insinuating his predecessor achieved nothing and the messiah has come to clear the mess. Now that he has gotten into trouble with Islamic Banking he is now shouting from the roof top- ‘’It is Soludo’s Policy oh; not mine oh!’’

I hope he will be brave enough to tell the public that the present recapitalization policy was also envisaged by Soludo and that the few things that he brought to the CBN are running down indigenous banks, mass retrenchment of bankers and his loud foul-mouthed, backward aristocratic swagger in the form of PR.
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