Structure And Operation Of Rural Interest Rates In Savings Mobilization And Extension Of Credit In The Cross River State

ABSTRACT This study has provided information on the structure and operation of rural interest rates in savings mobilisation and extension of credit in the Cross River State. A historical survey of interest rate in the Christian religion showed that the Church prohibited interest rates and established laws to discourage the giving and taking of interest, In the 11th Century however, there was a change in attitude towards charging interest when commerce began finding new channels and the problem of trade became urgent.