Rural Advertising in India - 2637 Words

RURAL ADVERTISING IN INDIA ABSTRACT Villages are integral part of the Nation. Rural markets acquired greater importance in countries like India, China, etc. because of economic growth of the nations now highly depend up on the rural economy. Corporate companies are struggling a lot to get more sales/profits in urban areas i.e. almost all the companies are saturated in urban areas. â€Å"Go rural and be rural† seems to be the guiding principle of marketing. In this context, companies are diversified all their operations toward rural areas. Most of the populations with unmet needs are living in rural areas. Companies should ensure that they understood the hopes and aspirations of the rural population. They should take into consideration the†¦show more content†¦The Indian advertising today handles both national and international projects. This is primarily because of the reason that the industry offers a host of functions to its clients that include everything from start to finish that include client se rvicing, media planning, media buying, creative conceptualization, pre and post campaign analysis, market research, marketing, branding, and public relation services. Rural consumers are fundamentally different from their urban counterparts. The lower levels of literacy and limited exposure to product and services are well-known, but there are also differences in occupation options, with a direct impact on income levels and income flows, and a high level of inter-dependency affecting the dynamics of rural community behavior. All contribute to make rural consumer behavior starkly distinct from the urban. Rural marketing has become a greatest challenge to make goods available to the rural markets because of poor infrastructure and lack of understanding of rural consumers. Only 40 per cent of the villages in India were connected by roads and only one third of rural homes had electricity. The rural market in India has great potential, which is just waiting to be tapped. Progress has been made in this area by some, but there seems to be a long way for marketers to go in order to derive and reap maximumShow MoreRelatedCottle Case1223 Words   |  5 Pages| ASSIGNMENT 2 | COTTLE-TAYLOR: EXPANDING THE ORAL CARE GROUP IN INDIA 1. a) What factors determine the demand for toothbrushes? As we read through the case we find there are various factors that influence the demand for toothbrushes which is affected by both social and economical factors. These factors are: * Affordability: The economic conditions that prevail in the markets, this focuses on the amount of disposable income and the income of the consumers and can they even affordRead MoreCottle-Taylor1277 Words   |  6 Pagesï » ¿ Cottle-Taylor: Expanding the Oral Care Group in India MEMORANDUM To: Brinda Patel, Director of Oral-Care Marketing From: Kunal Gulati and Gunjan Sharma, Assistant executives Date: October 31, 2009 Subject: Report on feasibility of 25-30% growth in the toothbrush market Ms. Patel, We have attached our projection report. As per our analysis, Mr. Lang’s idea of increasing advertising budget by 3% of sales will increase the unit sales by nearly 30% that will lead to $17.63m of profitRead MoreUnilever in India- Hindustan Lever’s Project Shakti1628 Words   |  7 Pagescommoners who live in the beautiful land of India. Motivation As a profit organization, the ultimate goal of HLL is still to generate more profit to expanding shareholders’ interest and keep the company operating as a gonging-concern. So Project Shakti is in progress as a rural marketing strategy which is considered to be a quintessential win-win initiative that paying more attention to better-off all the stakeholders and the economy atmosphere of rural India. As the notions changing along with purchasingRead MoreMarketing Strategy for Bottom of Pyramid Customers: A Case Study of Nokia1278 Words   |  6 Pagesto approximate the distribution of a country’s income). Thus obviously Bottom of Pyramid constitutes the market made of country’s poorest people. In India approximately 6 Lacs villages and 72% of country’s population constitutes BOP. The great majority of men and women of this BOP cluster work in agriculture, animal husbandry, factories or own rural shops and their income levels less than Rs.1.5 Lacs/year. Mos t companies have not traditionally considered people at bottom of pyramid as potential customersRead MoreCottle Taylor Case Analysis976 Words   |  4 Pagesprices by 20% on every item due to inflation in India, Lang’s projected revenue will exceed Patel’s one on $16,88 millions. However, arrangement of projected plans of unit and revenue growth with costs (Exhibit 2) that Cottler India will have evidences that market plan that Michel Lang suggested will lead to a profit less than Patel’s on $0,47 millions. As long as the primary goal of Cottler Taylor is to offset U.S. losses by boosting emerging markets (India in particular) bottom lines, Brinda Patel’sRead More4ps of Lifebuoy1615 Words   |  7 Pages1930s campaign in the US was titled Clean hands help guard health, encouraging the use of Lifebuoy soap to kill the germs on hands that can cause health issues. A similar campaign continues today, with Lifebuoy hygiene education programme ongoing in India, Bangladesh, Pakistan, Sri Lanka, Indonesia and Vietnam. Price: The price of its mass soap brand Lifebuoy was reduced from Rs13 to Rs12 on 90gm and from Rs15 to Rs14 on a 150g bar. The price of the small pack of Lifebuoy was recently cut by a rupeeRead MoreREVIEW OF LITERATURE India is a vast developing country in1600 Words   |  7 PagesREVIEW OF LITERATURE India is a vast developing country in the world and people of many different communities and religious live together in unity. Tribal study is not new to this present research world. There are many studies already done on this topic. Many scholars have paid their attention on it and contributed very much to the field of tribal studies. Most of the scholars were studied about indigenous features of tribes especially their cultures beforeRead MoreSuper Shampoo1233 Words   |  5 PagesAditya Vikram 2011248 [SUPER SHAMPOO] Formulating an effective value delivery process to tap into an existing and prospective consumer market. Introduction The case analyzes the response of the non-users of shampoo in an emerging environment, India. The non-users belong to the lower end of the socio-economic spectrum and they respond with their perceptions about the category of shampoo and well-known brands. The entrepreneur s challenge is to obtain the insights, analyze the attitude of theRead MoreInternational and Domestic Marketing Comparison Paper: India and the United States1408 Words   |  6 PagesMarketing Comparison Paper: India and the United States Introduction Nations, like the people who inhabit them, are all different. Some, like the United States, are at the forefront of technology and development. Others exist as third world nations, where even the most basic necessities are hard to come by. And then there are those which are in the middle, such as India. In the past 20 years, India has grown in the eyes of the global community from a rural, developing nation to a burgeoningRead MoreMarketing Strategy of Micromax1658 Words   |  7 Pagestools†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Pg 5-6 6. Identified problems and alternative solutions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...Pg 7 7. Conclusions and findings†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Pg 8 8. Recommendations and views†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Pg 9 INTRODUCTION 1. The mobile phone market in India is worth 130 million handsets annually. While the big players like Nokia, Samsung, Motorola and SonyEricsson make up for 70% share, the market has of late seen a slew of domestic firms such as Micromax, Karbonn and Entex making large inroads and new

Sonnys Blues by James Baldwin Essay - 1228 Words

Sonnys Blues by James Baldwin A captivating tale of a relationship between two troubling brothers in Harlem, Sonnys Blues is told from the perception of Sonnys brother, whose name is never mentioned. Baldwins choice of Sonnys brother as a narrator is what makes Sonnys Blues significant in terms of illustrating the relationship and emotional complications of Sonny and his brother. The significance of Sonnys Blues lies in the way Sonnys brother describes their relationship based on what he observes, hears, and feels, and how he struggles trying to understand Sonny through the course of the story. This is a story of how two African Americans brothers take their own path through life as they struggle to find meaning in their†¦show more content†¦The author used the title of the story Sonnys Blues, to give the readers the hint about the theme of the story. The noun blues is defined as a mood of unhappiness and depression. This theme is present throughout the story. Blues is a style of music that expresses a sad mood. It is synonymous with low spirits and depressed emotions. The blues, both as a state of being and as music, is basic to the structure of the story, and both the narrator and his brother Sonny have had their share of low spirits. The opposing lives of the two brothers contribute to the theme of being safe and while being risk takers. In this story, Baldwin writes about two brothers who grew up together. As each of the boys grew older, they fell apart from one another and lived two completely different lives. The narrator, who is the older brother, seemed to be more conservative and more determined to develop a good future. Sonny, the younger brother, was more free-willed and adventurous as he lived in the moment. Sonny did not even know what his plans were for the next hour, much less for the rest of his life. The narrators major source of discontent has been his selfish desire to learn and lead a respectable, safe life as a high-school algebra teacher. When he learns ofShow MoreRelatedRacism In Sonnys Blues By James Baldwin993 Words   |  4 Pagesamount of people all over the world. Although racial bias has been around for many years, it only seems to be progressing into something that one simply cannot c omprehend. In the short story â€Å"Sonny’s Blues,† the author, James Baldwin, emphasizes the lasting effect of racism throughout the story. While Baldwin vaguely expresses the impact of racial bias on the character Sonny, the audience infers the idea the author is trying to convey. In the story, racism is a significant factor of symbolism portrayedRead MoreAnalysis Of Sonnys Blues By James Baldwin956 Words   |  4 PagesJames Baldwin was born on August 2, 1924, to a single mother in Harlem. After his mother married his stepfather David Baldwin, who was a Baptist minister, he was adopted by him. Growing up, he didn’t feel as if he was accepted the way his other siblings were, though. In some of Baldwin stories, they often have a similar story line where it seems he is the less favored child over everyone else. In â€Å"Sonny’s Blues,† a similar scenario is presented in some ways. While the unnamed narrator often speaksRead More Sonnys Blues by Ja mes Baldwin Essay517 Words   |  3 PagesSonnys Blues by James Baldwin Sonnys Blues is a story about two brothers, their past, and how their differences came between them. They were apart for several years while Sonny was in jail, but once he got out they had a chance to mend their pasts. Sonnys Blues is a well written story that teaches a lesson that has value in every day life. The tone is melancholy and reminiscent. The brother is remembering the past and reflection on the mistakes he and Sonny made. He is sad over theirRead MoreRacism In Sonnys Blues By James Baldwin935 Words   |  4 Pagesare dealing with all over the world. Racial bias has been around for quite sometime now, and it only seems to be progressing into something that one simply cannot comprehend. In the short story â€Å"Sonny’s Blues,† the author, James Baldwin, emphasizes on the lasting effect of racism throughout the story. Baldwin vaguely expresses the impact of racial bias on the character Sonny. The audience has to infer the reasoning behind what the author is trying to convey. In the story, racism is a significant factorRead MoreAnalysis Of Sonnys Blues By James Baldwin1139 Words   |  5 PagesKelly J. Warner Professor Carol Wittig EN 234 – Introduction to Fiction 31 August 2017 A Second Chance The story â€Å"Sonny’s Blues† by James Baldwin hits home to my own personal life. In the story, a man learns that his brother is in jail and he is hooked on drugs. This story relates to my life because I have experienced something similar. Not only do I think that it can relate to my life, but so many other people who are struggling with drug and alcohol addiction. My father passed away due to a drugRead MoreAdversity In Sonnys Blues By James Baldwin892 Words   |  4 PagesJames Baldwin’s â€Å"Sonny’s Blues† utilizes race, poverty, stereotypes, and adversity to shine a light on the struggle to escape circumstance. Throughout the text, Baldwin describes the hardships leaching the life out of Harlem’s black community from the narrator’s perspective. Sonny, the narrator’s brother, struggles with his identity and ability to feel emotion leading him to the world of music and drugs, â€Å"To be aware of oneself, Baldwin believes , is to feel a sense of loss, to know where we are andRead MoreEssay on Sonnys Blues by James Baldwin1316 Words   |  6 Pagesâ€Å"Sonny’s Blues† revolves around the narrator as he learns who his drug-hooked, piano-playing baby brother, Sonny, really is. The author, James Baldwin, paints views on racism, misery and art and suffering in this story. His written canvas portrays a dark and continual scene pertaining to each topic. As the story unfolds, similarities in each generation can be observed. The two African American brothers share a life similar to that of their father and his brother. The father’s brother had a thirstRead MoreSonnys Blues by James Baldwin Essay775 Words   |  4 PagesSonnys Blues If you were not able to talk to anyone, nor did people want to listen to what you have to say, would that affect you? In the short story, Sonnys Blues by James Baldwin, Baldwin writes about two brothers, Sonny and the narrator, who lose communication between one another because Sonny goes to prison. The narrator, having to make a promise to their mother before her death, was to take care and watch over his young brother Sonny no matter what. This turned out not to be theRead MoreAnalysis Of Sonnys Blues By James Baldwin1293 Words   |  6 PagesIn the story â€Å"Sonny’s Blues†, written by James Baldwin, the narrator and his younger brother, Sonny, interact with musical elements that serve as a redemption for Sonny. Baldwin believes in the power of music to rescue or minimize the suffering that people go through. Both characters isolate themselves with several instances of music and issue their reactions toward it. Sonny is an uprising musician that wants to portray his life by playing the piano. This story is about Sonny’s Blues. His sadnessRead MoreEssay about Sonnys Blues by James Baldwin1003 Words   |  5 Pages There are many things we learn of Sonny and his nameless brother in Sonnys Blues. We learn their mannerisms, hobbies, occupations, and even their addictions. It seems we learn nearly everything about the pair; minus the narrators name, as previously stated. Hearing of their histories and the pains theyve under gone, we see how they deal with their pain, which often truly tells character. Sonnys Blues isnt a story of two brothers living in a rough city; one of whom is a talented musician

Auditing Theory and Practice for Second Report-myassignmenthelp

Question: Write about theAuditing Theory and Practice for Second Report. Answer: To: Managing Partner of MYH Subject: A Report on Strength of any Negligence Case that Oasis might bring against MYH Main Body: Influences of Common Law on Negligence Issues: There are four general stages of audit-related dispute. The first stage includes the occurrence of events that results in losses for users of the financial statement like misappropriation of assets, fraudulent financial reporting. The second stage, this involves investigation by plaintiffs and their attorneys before doing any legal proceedings. The third stage includes the legal process. The last stage is related to the resolution of dispute (Wilson, 2014). Under common law, the auditor is held liable for the negligence, breach of contract and fraud. The elements necessary for making an auditors liability for negligence to clients are the duty to cope up with a required standard of care, failure to perform as per that duty, a casual connection between auditors negligence and clients damage and actual damage to the client. The three standards that have evolved for defining the extent of the auditors liability to third parties are privity, foreseen persons and reasonably foreseeable third parties. Privity means obligations between parties that exist under a contract. Auditors liability to third parties under common law is complex, because court rulings are not always consistent across federal and state jurisdictions (American Accounting Association, 2016; Gay and Simnett, 2015). Contributory negligence is used by the auditor as a defense in legal liability, when he or she claims the client a responsibility in the legal case. For example, the auditor claims that the client contributed to the fraud by not correcting the material mistake (Robertson and Tilbury, 2016). Any third person, who makes any purchase based on the information in the financial statement, then the third person can sue the auditor for the wrong information given in financial statements. In this case Morgan fertilizers supplied the financial statements to Oasis and there is no evidence that MYH is aware of this intended use of the accounts. So this works as an advantage for MYH in the negligence case. There are some steps at the firm level that can minimize the legal liability against the auditors like, being alert for risk factors that may result in lawsuits, performing and documenting work diligently, following sound client acceptance and retention procedures, ensuring that members of the firm are independent, instituting sound quality control and review procedures (BLINK, 2017). The auditors legal liability to client can arise from the failure of auditor to fulfill the terms of contract. An example would be if the client identifies any misstatement in the financial statements, which would have been discovered if the auditor had not properly analyzed all the financial accounts (e.g. misstatement of inventory arises only if the inventory is not properly checked by t he auditor). Case Law: Esanda Finance Corporation Ltd v Peat Marwick Hungerfords (1997) 188 CLR 241 (HCA) The auditors liability to third party under the common law arises from any loss incurred to third party due to relying upon the misleading financial statements. Civil liability under the securities act, 1933 provides the right to the third party to sue the auditor for damages done to him due to any untrue statement of material. For example if any stock is purchased by an investor on the basis of audited financial statements and later on if the investor finds the misstatement in the financial statements, then for the loss done to him he can sue the auditor (Mintz, 2016). If the company will say that it does not have any evidence of the misleading that happens in the inventory, then it clearly shows the negligence of the auditors and the management of the company both. Conclusion From the analysis of above report, it can be said that during the audit process, the influences of common law on negligence issues plays an important role. It will help the company, if Oasis files any negligence case against it. Auditor is expected to conduct an audit using due care, but does not claim to be a guarantor or insurer of financial statements. References BLINK (2017). Making Ethical Decisions: A 7-Step Path. Retrieved from: https://blink.ucsd.edu/finance/accountability/ethics/path.html Gay, G. E. and Simnett, R. (2015). Auditing and assurance services in Australia (6th ed.). Roseville: McGraw. Mintz, S. (2016). Ethical Obligations and Decision-Making in Accounting: Text and Cases. Robertson, A. and Tilbury, M. (2016). The Common Law of Obligations: Divergence and Unity. USA: Bloomsbury Publishing. Wilson, R.M.S. (2014). The Routledge Companion to Accounting Education. USA: Routledge.

Interest-Free Banking and Islamic Banking in Nigeria free essay sample

Interest-free Banking and Islamic Banking in Nigeria By: Salim Salihu Muhammed Nigeria’s quest for a virile banking reform had led to the adoption of several policies and strategies that would truly give the nation’s economy an edge towards growth and sustainability. No doubt, the bail outs of â€Å"failed banks† and the acquisition of toxic assets from bad banks’ books did saved the economy and Nigerians to a large extent from such kind of economic blows suffered in the Scandinavian banking crises.Without minding words as a follow up to an earlier publication, Zero Interest Banking in Nigeria: Identifying a Sustainable Module, I still emphasis on the identification of an achievable element for an Interest-free Banking System as well as supporting it to its plausible fullest, rather than introducing religious sentiments or interest that could harm the Nigerian financial sector. Less I forget in a hurry, do the Nigeria’s economic policy fault finders understand what Interest-free Banking entails? It is true that the Central Bank of Nigeria (CBN) had emphasized on its readiness to establish or give licence to banks wishing to operate Interest-free Banking system (which is popularly known by many as Islamic Banking because of its tandem with Islamic jurisdictions and beliefs that prevent dealings in interest (Riba) or usury). We will write a custom essay sample on Interest-Free Banking and Islamic Banking in Nigeria or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is also true that the Apex Bank has the jurisdiction, as provided in its Act to allow such financial or banking practice; but what should not be seen as true is the perceivers’ believe that the CBN’s policy was meant to enforce Islam or Shari’ah on Nigerians or construed as a personal agenda of the Apex Bank’s Chief. For the avoidance of doubts, as it were with conventional commercial banks, Interest-free banking system has its inherent pros and cons which affects the Muslims and non-Muslims alike.A first glance of how Interest-free banking system operates could set a pace of reasonable understanding to its fault finders. The bank is operated by, and has Muslims and non-Muslims customers; its lending principle is based on the belief that the provider of capital and the user of capital should equally share the risk of business ventures. Translated into banking terms, the depositor, the bank and the borrower should all share the risks and the rewards of f inancing business ventures.However, Nigeria as well as any other country wishing to practice Interest-free banking system may design a module that fit its economy, so far that its applications does not go contrary to the Islamic jurisdictions of Riba or interest, the use of money and capital; and also, identify the key challenges facing the model such as the dearth of knowledge, skills and technical capacity to regulate, supervise, or operate non interest banks. Also, higher quality personnel with experience in project management and Islamic jurisprudence are required for financing and marketing activities.Interestingly, the flexible nature of Islamic finance provides enormous opportunities; it has positive and far-reaching impact for the Nigerian economy. The interest-free banking principle in Islam allows only one kind of loan and that is qard-el-hassan (literally good loan) whereby the lender does not charge any interest or additional amount over the money lent. In conventional terms, it means a bank will not change interest on loan or stipulate a certain amount to be paid back together with the loan given. What is more?The lender (the bank) also shares in the profits or losses arising out of the enterprise for which the money was lent. Islam encourages the economy of wealth redistribution; customers (Depositors) are thus encouraged to invest their money and to become partners in order to share profits and risks in the business instead o f becoming creditors. This is unlike the interest-based commercial banking system, where all the pressure is on the borrower: he must pay back his loan, with the agreed interest, regardless of the success or failure of his venture. The present day multi-rich Nigerians can hoard money, thereby limiting or eliminating the purchasing power of money. This practice have negatively marred the efforts at keeping inflation at bay, as this idle money are not utilized in economic events that could improve the country’s Gross Domestic Product (GDP) over time. Under the Islamic Banking system, human effort, initiative, and risk involved in a productive venture are more important than the money used to finance it. Customers are encouraged to purchase and are discouraged from keeping money idle so that, for instance, hoarding money is regarded as being unacceptable.This purchasing power (money) cannot be used to make more purchasing power (money) without undergoing the intermediate step of it being used for the purchase of goods and services. Although the system encourages customer to purchase, it also prohibits or discourage investment in practices and products that are considered forbidden. The Apex Bank could make policies for the financial system and operators, as much as it is provided by enabling laws, the country’s Constitution, the Bank and Other Financial Institutions Act (BOFIA) and other relevant financial laws. We must understand that the country’s Assembly need not pass a bill for the proposed banking system (Interest-free banking), which is a product of CBN, to take effect if the listed legal provisions and other careful indices are put in place to make the system meet the economic objective for which it is meant for. All that is needed is a careful and extensive capacity building through collaboration among various stakeholders to develop cognate expertise in non-interest banking, development of an adequate regulatory and supervisory framework for the effective operation of non-interest banking in Nigeria.As it stands, it is fair to say that Interest-free banking system and Islamic banking system refers to the same policy as they operates in line to the provisions and jurisdictions of the Islamic Shari’ah system; nevertheless, it does not connotes a means of enthroning control over the sovereignty of Nigeria but a mere banking policy aimed at salvaging the country’s financial system as seen to be practiced in the United Kingdom, America and parts of Europe. In many countries where series of financial crisis had led to the implementation of monetary and financial policies, the adoption of an Interest-free regime was considered.London is the leading Islamic banking centre in the West, HSBC, Lloyds TSB, and Citigroup have opened Islamic banking units and branches throughout England. Middle Eastern Islamic banks have also set up shop in the United Kingdom (UK). These banks also targeted non-Muslims with the message that their services are ethically superior to those of the West, pushing the idea that interest – and capitalism – is unethical and should be replaced in Europe by the Islamic financial model; patronage by non-Muslims have received a continuous increase in the UK. Wasn’t England the birthplace of the Industrial Revolution and creator of the common law, the most successful and equitable legal system in history? One thing I must emphasis here is, any bank, be it Islamic or conventional, risks running losses if it does not charge some form of interest; Islamic banks circumvent this danger by extending a type of Islamic â€Å"credit† that shifts risk to the borrower in a manner similar to interest. In the UK Islamic Banking model, the banks’ Shari’ah boards legitimate the charges by renaming them â€Å"commissions† or â€Å"profits. Some of us could be wondering why Islamic banks could remain profitable – or ideologically influential – if they complied with the Qur’anic injunction again interest. An Islamic bank is no different. It must partake in the money creation business. And it must therefore fix its financial rate of return at the outset in most of its business. Thats why Islamic bank ing cannot succeed in being Islamic, at least, not in the way that we understand the terms â€Å"banking† and â€Å"Islamic† today. Islamic finance is not a product to be offered to a niche market. It is a system. It must be promoted and implemented as a system as did the UK. Nigeria could buy from the West, especially with the United States’ strategy in understanding the system and how US Deputy Secretary of the Treasury Robert M. Kimmitt showed the world that the U. S. was interested in learning more about Islamic finance through holding an Islamic Finance 101 course in Washington to educate government officials on its ins and outs. Whatever the system that the Apex Bank deems fit to aid in strengthening the banking reforms, it is left for the customers and Nigerians to decide on which financial product to explore. As it stands today with Nigeria’s conventional banks increasing minimum cash balance in savings (deposit) accounts to N25,000. 00 and thereabout, the Islamic Banking could be a succour towards Sustaining Competition in Banking Reforms for a surviving economy whose average citizens earns far less than N18. 000. 00 per month. Salim Salihu Muhammed [emailprotected] com