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13+

Years Serving Individuals, Corporates & Government

1st

Islamic Bank in the World to Break Even in 3 Years

+720%

From ₦30 Billion in 2012 to ₦249 Billion in 2022

2x

Most Improved Islamic Banking Award - 2020 & 2021

about-us
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Jaiz Bank Plc, the pioneer Non-Interest Bank in Nigeria has been providing ethical services to individuals, corporate and government entities since 2012 with the mission of Making Life Better Through Ethical Finance. Since it commenced operations in 2012, the Nation’s premier Non-Interest Bank has maintained its leadership role by deepening this alternative model of financing, thus providing the foundation for its expansion, and providing the needed ethical funding for infrastructural development in the country.

Over the years, the Bank has won notable international and local accolades among which are the Most Improved Islamic Banking awards in 2020 and 2021, respectively, from the Global Islamic Finance Awards (GIFA).

It maintains a record of being the first Shariah Compliant Bank in the world to break even within the first three years of operations, even when there were no Islamic banking and finance instruments to invest in the country.

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Jaiz Bank's core values are built on the acronym ‘ETHICAL’— Excellence, Teamwork, Honesty, Integrity, Customer- Centric, Accountability, and Loyalty. These core values underpins what the staff will live by, to achieve the vision of being the clear leader in ethical banking in Africa.

Jaiz Bank is publicly quoted on the Nigerian Exchange Group (NGX), with a balance sheet size of N1,080 Trillion (as of December 31st, 2024), compared to N12 billion in 2012. Financing and Investment assets also grew from over N30 Billion in 2012 to N671 billion as of December 31st, 2024. Other critical parameters such as customer deposits, branch network, and profitability have all been growing year-on-year since inception.

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About Islamic Banking

Non-Interest Banking is a growing global phenomenon practised in nearly 80 countries across the world including the United Kingdom, Canada, the United States of America, the United Arab Emirates, Malaysia, China, Singapore, South Africa, Kenya etc. Global Banks like HSBC, Citibank, Barclays Bank, Standard Chartered etc. are also offering non-interest banking products and services.

It is an alternative financial service offering that is open to all, irrespective of race or religion. It is based on the ethical principles of fairness, transparency and objectivity.

Non-Interest Banking offers almost all the services of conventional banks. The difference is that Islamic Banks do not give or receive interest, nor finance anything that is harmful to the society like alcohol, tobacco, gambling etc.

They also avoid gharar- speculation, extreme uncertainty and deception. A significant portion of Nigerian population is desirous of ethical banking services which Non-Interest Banking is poised to deliver. In a nutshell, Non-Interest Banking is real-economy oriented where profit and loss sharing arrangement, mark-up, leasing and partnership are mostly the mode of financing.

Our Vision

To be a leader in Ethical Banking in Africa.

Why Jaiz Bank

Jaiz Bank PLC is a national bank and a quoted public company owned by over 26,000 shareholders spread over the six geopolitical zones of Nigeria. The Bank’s balance sheet has grown from N12 billion in 2012 to about N62 billion, with asset financing of over N30 billion..

BusinessPhilosophy

Our philosophy is to deliver world-class sharia-compliant financial services to our clientele irrespective of class, creed, race or religious belief and to contribute to the socio-economic development of the society.

Our Mission

Making life better through Ethical Finance.

The Potential for Non-Interest Bank in Nigeria

The business potential for a Non-Interest Bank in Nigeria are enormous as such an institution has long been awaited by a large population of Nigerians from all parts of the country. Jaiz Bank's strategic business focus is mainly on retail banking, the Bank nevertheless offers corporate and commercial banking services. The Bank's retail focus will enable it to service the majority of Nigerians who wish to do away with Riba (Usury) in their daily activities.

The Potential for Non-Interest Bank in Nigeria

What the Bank will be

Success

100% Shari'ah compliant

Success

Highly ethical, with best practice corporate governance and sound risk management framework.

Success

Proactive and innovative towards customer's needs

Success

Best-practice operations and functional framework

Success

Customer-Centric

Success

Socially responsible

Success

Fair to all Stakeholders

Success

Ideal business partner

What the Bank will be

What the Bank will not be

Failure

Religious bias

Failure

Offer all things to all people

Failure

Mediocre performer

Failure

Imitate other banks

Failure

Sacrifice Shari'ah principles for profit

What the Bank will not be

Business Solutions

Corperate Banking

Corperate Banking

MSME Financing

MSME Financing

Trade Finance

Trade Finance

Jaiz Online

Jaiz Online

Agency Banking

Agency Banking

Jaiz Pay

Jaiz Pay

Current Account (Qard)

Current Account (Qard)

Savings Account (Mudarabah)

Savings Account (Mudarabah)

Jaiz Kids Account (Mudarabah)

Jaiz Kids Account (Mudarabah)

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Jaiz Bank PLC is a national bank and a quoted public company owned by over 26,000 shareholders spread over the six geo-political zones of Nigeria. The Bank's balance sheet has grown from N12bn in 2012 to about N379bn (as of December 31st 2022). Financing and Investment assets also grew from over N30bn in 2012 to N249bn as of December 31, 2022.

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