Nigeria, a country wracked by Jihadist violence in recent years, is poised as a growth market for the financial jihad.

The West African nation plans to license at least two Shariah-Compliant financial institutions this year. In addition, three non-Islamic banks have expressed interest in opening Shariah-compliant “windows.”

Nigeria also signed an agreement with Malaysia’s central bank to cooperate in “Islamic” financial services.

Nigeria is Africa’s top oil producer and home to about 77 million Muslims.


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