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CBN unveils guideline for non- interest microfinance banking

In a move to encourage the development of the microfinance subsector of the non-interest finance sector and to deepen financial inclusion, the Central Bank of Nigeria (CBN) has released the draft guidelines for the regulation and supervision of Non-Interest (Islamic) Microfinance Banks (NIMFBs) in Nigeria for inputs/comments.

In the document posted on its website, the apex bank placed the NIMFBs into three categories, namely, unit, state and national.