114 AJBMR • Doi Publications
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  • EFFECTIVE MARKET SEGMENTATION AND VIABILITY OF ISLAMIC BANKING IN NIGERIA
    â–ºMohammed Abubakar Mawoli and Dauda Abdulsalam

    ABSTRACT
    Islamic banking has become a global phenomenon as both Islamic and western countries have embraced it. However, the move by the Central Bank of Nigeria (CBN) to introduce Islamic Banking in Nigeria was met with many criticisms, especially from the Non-Muslims. As a divorce from subjective criticisms typical of religious opponents’ discussions, the study examined the viability of Islamic banking in Nigeria using market segmentation criteria. Being a library research, secondary data was obtained from various secondary sources and analyzed descriptively. The study found that, the targeted Muslim segment is substantial, identifiable, measurable, accessible and reliable. Hence, the study concludes that the introduction of Islamic banking in Nigeria is worthwhile and the future of Islamic banks in the country is bright and prosperous. The study, therefore, recommends that though Islamic banking has come to stay, Muslims and non-Muslims should support its establishment as all citizens irrespective of religious affiliation are likely to benefit from it.    
    Keywords: Segmentation, Viability, Islamic Banking, Nigeria.    

    Pages:01-09 :: Download-View
 
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