By Abdulqadir Ibrahim Abikan (Ph. D)
ABSTRACT
This research examines the impact of the Global Financial Meltdown (GFM) on Islamic finance in Nigeria. It examines the law which enabled Islamic finance in the country and the various efforts made to effectuate the law. It compares the performance of the Lotus Capital Halal Investment Fund with the Nigerian Stock Exchange All Shares Index (NSE-ASI). It also reviews the response of the regulatory authorities to the impacts. It finds that the crisis has both negative and positive impacts on Islamic finance in Nigeria. It concludes that while the negative impact is not adverse comparatively, the positive has set the stage for the takeoff of full-fledged Islamic financial system in the country.
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