The  Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi, has appointed Dr. Abdul-Razzaq AbdulMajeed Alaro of the Department of Islamic Law, University of Ilorin, into the apex bank's Financial Regulation Advisory Council of Experts (FRACE) on Non-Interest Financial Institutions.

Other members of the FRACE, whose appointments would be on part-time basis, include Sheikh Sheriff Ibrahim Saleh, Chairman; Sheikh Adam Idoko; Dr. Ibrahim Jalo; Dr. Bashir Aliyu Umar, the Executive Director of the International Shariah Research Academy of Bank Negara, Malaysia; Dr. Mohammed Akram Laklin; and the Secretary General of the Shariah Supervisory Board of the Central Bank of Sudan, Dr. Ahmed Ali Abdallah.

This was contained in an electronic mail made to The Herald via Unilorin bulletin.

Among other functions, FRACE is to ensure that products and services offered by the non-interest financial institutions satisfy the requirements for compliance to the principles underpinning their mode of operation, so as to meet the expectations of their stakeholders.

The inauguration of Dr. Alaro and other members of FRACE was held in Abuja recently.