Friday, April 07, 2017 9:24 AM / CBN
Further to its mandate of promoting a sound financial system in Nigeria, the Central Bank of Nigeria hereby issues the Guidelines on the Regulation and Supervision of Non-Interest (Islamic) Microfinance Banks (NIMFBs) in Nigeria.
The guidelines was developed to provide a level playing field between the conventional and the non-interest Microfinance Banks and to address issues underpinning the operation of non-interest financial institutions (NFIs).
The guidelines is expected to enhance financial inclusion by brining to the formal sector, individuals, communities and corporations that are not captured by the conventional Microfinances Banks (MFBs).
The minimum standard operating procedures, prudential ratios and other regulatory requirements that operation of NIMFBs are expected to comply with have been properly specified in the guidelines.
Download Guidelines Here