The Strength of Islamic Bank in Nigeria Facing the Economic Crisis

Authors

  • Nkechi Zuri University of Mkar, Mkar
  • Emeka Ifeanyi Chuka Veritas University, Abuja

DOI:

https://doi.org/10.37680/ijief.v3i1.2366

Keywords:

Islamic Bank; Nigeria; Facing Economic Crisis

Abstract

Time is ticking and times of economic crisis will continue to recur with various causes that may be different and require different solutions to problems. In Nigeria, there was an economic crisis to a food crisis, this was also triggered by the Covid-19 Pandemic, this crisis began to be felt in 2020. The research method used in this research is to use descriptive qualitative analysis. No one expects an economic crisis anywhere and anytime. Nigeria is known as a country prone to racial and religious conflicts. In 2020, the capital city of Borno state often faced conflicts between civilians. Deputy head of the UN Office for the Coordination of Humanitarian Affairs (OCHA) Nigeria, Esty Sutyoko, said Nigerians have lost their livelihoods for more than a decade. This was triggered by violence and the Covid-19 pandemic as well as food insecurity in the region. The Covid-19 pandemic began with reports of cases of pneumonia (pneumonia) with unknown causes in Wuhan, China at the end of December 2019.  But on the other hand, Islamic banking has again proven that the system used is really resistant to crises, not just theory and coincidence because it has been proven three times through economic crises and the power of Islamic banking is very strong to beat conventional banking.

Downloads

Download data is not yet available.

References

Aburime, U. T. (2021). ISLAMIC BANKING THEORIES, PRACTICES AND INSIGHTS FOR NIGERIA. Journal Economic, 1(1), 1–32.
Albrecht, W. S., Chad, O., Albrecht, C. C., & Zimbelman, F. (2021). Poverty Due to Covid 19 in the world.
Basiru Oyeniran Fatai. (2012). CAN ISLAMIC BANKING WORK IN NIGERIA? Journal of Sustainable Development in Africa, 14(2), 25–40.
Bitar, M., Pukthuanthong, K., & Walker, T. (2020). Efficiency in Islamic vs. conventional banking: The role of capital and liquidity. Global Finance Journal, 46, 100487.
Cressey, D. R. (1953). Other people's money; a study of the social psychology of embezzlement. Free Press.
Creswell, J. W. (2014). Research Design: Qualitative, Quantitative and Mixed Methods App roaches (4th ed.). Thousand Oaks. SAGE.
Creswell, John W. (2012). Planning, conducting, evaluating, quantitative and qualitative research (Fourth Edition). Educational Research.
Diamond, D. W., & Kashyap, A. K. (2016). Liquidity requirements, liquidity choice, and financial stability. In Handbook of macroeconomics (Vol. 2, pp. 2263-2303). Elsevier.
Epler, G. R. (2011). Bronchiolitis obliterans organizing pneumonia, 25 years: a variety of causes, but what are the treatment options?. Expert review of respiratory medicine, 5(3), 353-361.
Farooque, O. A., Hamid, A., & Sun, L. (2022). National Governance Index, Corruption Index and Growth Rate—International Evidence from Sub-Saharan and MENA Countries. Journal of Risk and Financial Management, 15(6), 261.
Fodio, M. I., Ibikunle, J., & Oba, V. C. (2013). Corporate governance mechanisms and reported earnings quality in listed Nigerian insurance firms. International Journal of Finance and Accounting, 2(5), 279-286.
Hasan, Z. (2020). The impact of Covid-19 on Islamic banking in Indonesia during the pandemic era. Journal of Entrepreneurship and Business (JEB), 8(2), 19-32.
Krasnikov, A., Jayachandran, S., & Kumar, V. (2009). The impact of customer relationship management implementation on cost and profit efficiencies: evidence from the US commercial banking industry. Journal of marketing, 73(6), 61-76.
Nurdin, N., & Yusuf, K. (2020). Knowledge management lifecycle in Islamic bank: the case of syariah banks in Indonesia. International Journal of Knowledge Management Studies, 11(1), 59-80.
Nuruddeen, B., & Abdullahi, A. (n.d.). ISLAMIC BANKING IN NIGERIA : ISSUES AND PROSPECTS.
Okanga, O. O. (2022). A law and politics contextualization of corporate activism in Nigeria’s 2020 anti-police brutality campaign. SN Social Sciences, 2(3), 30.
Olaniyan, A. (2018). Foliage and violence: Interrogating forests as a security threat in Nigeria. African Security Review, 27(1), 88-107.
Rano, S. U. (2012). Munich Personal RePEc Archive Islamic banking and finance in Nigeria : issues , challenges and opportunities. 42573.
Rao, C. S. (2017). English for business and management. Journal of Research Scholars and Professionals of English Language Teaching, 2(1), 4.
Rothan, H. A., & Byrareddy, S. N. (2020). The epidemiology and pathogenesis of coronavirus disease (COVID-19) outbreak. Journal of autoimmunity, 109, 102433.
Samuel, U. D., Odo, E. S., Atewologun, O. M., Adeyeye, A. A., & Olaegbe, T. D. (2021). COVID-19 Pandemic: Health Challenges and a Critical Study of the Structure of the Nigeria Economy. Path of Science, 7(11), 4001-4021.
Simou, E. (2014). Effects of the economic crisis on health and healthcare in Greece in the literature from 2009 to 2013: A systematic review. Science Direct Healty Police Elsevier, 2(3).
Selby, J., Daoust, G., & Hoffmann, C. (2022). Divided Environments: An International Political Ecology of Climate Change, Water and Security. Cambridge University Press.
Zhou, F., Yu, T., Du, R., Fan, G., Liu, Y., Liu, Z., ... & Cao, B. (2020). Clinical course and risk factors for mortality of adult inpatients with COVID-19 in Wuhan, China: a retrospective cohort study. The lancet, 395(10229), 1054-1062.

Downloads

Published

2023-06-08

How to Cite

Zuri, N., & Chuka, E. I. (2023). The Strength of Islamic Bank in Nigeria Facing the Economic Crisis. Indonesian Journal of Islamic Economics and Finance, 3(1), 43–52. https://doi.org/10.37680/ijief.v3i1.2366

Issue

Vol. 3 No. 1 (2023)

Section

Articles

License

Copyright:

An author who publishes in Indonesian Journal of Islamic Ekonomics and Finance agrees to the following terms:

  • Author retains the copyright and grants the journal the right of first publication of the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
  • Author is able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book) with the acknowledgment of its initial publication in this journal.
  • Author is permitted and encouraged to post his/her work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of the published work (See The Effect of Open Access).

License:

  • Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.

  • NonCommercial — You may not use the material for commercial purposes.

  • No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.

You are free to:

  • Share — copy and redistribute the material in any medium or format
  • Adapt — remix, transform, and build upon the material

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.