AN industrialist and a Chieftain of the Peoples Democratic Party (PDP) in Surulere Local Government area of Oyo State,  Chief Isaac Akinkunmi, has said that there is nothing wrong with the introduction of Islamic banking system into the country, though he urges the Central Bank of Nigeria (CBN), to rechristen it interest-free banking system to remove the religious colouration from it.

Chief Akinkunmi declared his support for the system in a chat with the Nigerian Tribune, at the weekend, in Bauchi, saying that its introduction in the country was a good omen for the Nigerian economy, submitting, however, that the country’s apex bank should maintain the secular nature of the country by removing religious colouration from the banking system.

He noted that those who were against the system were doing so because “they don’t know much about it and because it was Islamic,” saying that it was a right instrument industrialists in the country needed now to stimulate production and as such provide more employment opportunities for unemployed Nigerians.

“Though I am a Christian, I am in full support of the introduction of Islamic banking system in Nigeria. Those who are against it do not know much about it. It is a good thing that would happen to the economy, if it is fully implemented in the country. This is a system that would afford industrialists the opportunity of taking credit facilities to boost production, which in turn would provide more jobs, and paying back exactly what they took with paying interest on it .

“The opponents of the system are also doing so because of the sensitive issue of religion. If the CBN had called it interest-free banking system, no one would have opposed it. The CBN would do better if it do every thing possible to maintain the secular mature of the country and rechristen the banking system as interest-free banking system or any other name that will not depict religion. The system is good, there is no doubt about it,” he said.

Akinkunmi argued that if the CBN had called the banking system Christian banking system, the Muslim community in the country would have objected to it, saying that authorities in the country ought to maintain the secular status of the country as enshrined in the constitution for peaceful coexistence of Nigerians.

He added that as of today, the Gregorian calendar was adopted by everyone because it did not reflect any religion, yet “every one knows that it was calculated after the death of our lord Jesus Christ. But because no one add after the death of Jesus to our dating system, it is acceptable to all. This is want I want the Central Bank to do with the Islamic banking system to make it acceptable to all.”

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