A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy

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This paper argues for reconsideration and reevaluation of the underlying assumptions and paradigms of the world 

capitalist system in particular and that of economics in general. This is against the backdrop of an increasing discontent of 

majority of the world’s people against the growing inequality between the rich and the poor. It contends that the genesis of 

the problem is rooted in the concept of the selfish, individuated economic man, which has fueled our appetite for greed, 

selfishness and unbridled primitive capitalist accumulation. Thus these clannish and narrow assumptions must be relaxed 

to bring in the more altruistic, non-material components of man. This new philosophy and concept of our economic man 

incidentally aligns with the principles of Islamic banking, a variant of non-interest banking. But it cautions that the 

imperatives of citizen education and a de-emphasis on religious sentiments are central to guaranteeing the success of the 

programme.

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APA

Chukwunwike, N (2019). A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy. Afribary.com: Retrieved March 03, 2021, from https://afribary.com/works/a-case-for-non-interest-banking-in-nigeria-amidst-the-collapsing-paradigms-in-the-global-economy

MLA 8th

Nwosu, Chukwunwike. "A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy" Afribary.com. Afribary.com, 01 Feb. 2019, https://afribary.com/works/a-case-for-non-interest-banking-in-nigeria-amidst-the-collapsing-paradigms-in-the-global-economy . Accessed 03 Mar. 2021.

MLA7

Nwosu, Chukwunwike. "A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy". Afribary.com, Afribary.com, 01 Feb. 2019. Web. 03 Mar. 2021. < https://afribary.com/works/a-case-for-non-interest-banking-in-nigeria-amidst-the-collapsing-paradigms-in-the-global-economy >.

Chicago

Nwosu, Chukwunwike. "A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy" Afribary.com (2019). Accessed March 03, 2021. https://afribary.com/works/a-case-for-non-interest-banking-in-nigeria-amidst-the-collapsing-paradigms-in-the-global-economy