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Jaiz Product And Services

We provide financial services for families and small businesses.

Jaiz Bank accepts deposits into Current Account from its customers based on principle of Qard (Demand loan). The customer gives the bank authority to use the funds to invest in its operations, with the condition that the deposit is considered as a non-interest loan by the depositor to the bank.

Jaiz Savings Account is operated based on the principle of Mudaraba (Partnership). The account allows customers earn profit on their deposits. Account holders are considered as investors while the bank act as the fund manager and invests the depositors’ monies into financially profitable, socially desirable and commercially viable business ventures which are legal and Shariah compliant.

Opening an account for your child is an exciting moment. We at Jaiz Bank believe that learning the concept of saving early would help children develop financial responsibility later in life. This is why we introduced the Jaiz Kids Account. This account can be opened in trust for a child by the parent/guardian who will be the primary account holder with the responsibility of running it until the child attains adulthood.

At Jaiz Bank, building your wealth ethically is always a priority. Jaiz Bank's JAPSA Term Deposit is an innovative product designed specially to meet your investment needs. Our Term Deposit offers you the option of higher profit rates at tenures which suit your needs. Account holders are considered as investors while the bank acts as the fund manager and invests the depositors’ monies into financially-profitable, socially-desirable and commercially-viable business ventures which are legal and Shariah compliant.

This a product designed to finance acquisition of automobiles for salary account holders in public, private and other reputable organizations. This is financed under Murabaha (cost plus). The bank purchases the vehicle and sells to the customer with a reasonable markup (otherwise called profit). Payment for the vehicle sold to the customer is usually on monthly basis from the customer’s salary for a period of 3 to 4 years.

This is a consumer product that enables customers to acquire household appliances ranging from refrigerators, freezers, furniture, kitchen appliances, laptop computer, TV set, etc. with the flexibility of a monthly payment plan. This is financed under Murabaha (cost plus). The bank purchases the appliances identified by the customer and sells same to the customer at cost plus profit. Payment is usually on monthly basis from the customer’s salary for a period of up to 24 months.

This is a consumer product that enables customers acquire building materials, consumable goods and real estate with the flexibility of a monthly payment plan. This is financed under Murabaha (cost plus). The bank purchases the goods identified by the customer and sells same to the customer at cost plus profit. Payment is usually on monthly basis from the customer’s salary for a period of up to 36 months.

This is a product that enables a customer to own a house. Under Jaiz Home Finance, the Bank partners with its customer to jointly own a house identified by the customer. The customer in turn agrees to lease the Bank’s share of the house while gradually buying that portion of the house owned by the bank. Rent paid by the customer gradually decreases as customer’s share of the house increases with buying out of the bank’s share.

This product is ideal for individuals/Salary employees looking for financing to pay for services such as school fee’s, rent, medical Bills etc. Under this arrangement the Bank pays for the service and the customer pays back over a period of time.

This product is tailored to corporate and high net worth individuals (HNI) that need high returns with commensurate risk on their investment. Under Wakalah, the Bank will collect deposits from its customers and invest in a specific business venture to be agreed with the customer. The Bank however acts as an agent to invest the depositor’s funds in an ethical manner. The Bank will indicate the expected profit rate to the customer over the agreed period for the investment.

This is a convenient way of financing working capital requirement of businesses. This product is used to finance purchase of inventory or raw material for our customers locally. The Bank appoints the customer as its agent to source for the goods the customer wishes to buy, negotiate price, quality and quantity, and communicate the outcome of the negotiation to the Bank via presentation of a proforma invoice to the Bank.

Under this contract, the Customer will request and the Bank will agree to construct and to sell the project to be constructed at the Bank's selling price (cost plus profit margin) on deferred payment terms and thereafter the Bank will request another party (contractor) to construct the project. The payment of the Bank's selling price may be paid in full or by way of progressive payment as the case may be. Upon completion, the contractor will handover the project to the Bank or the Bank will authorize the contractor to deliver the project directly to customer.

This is a banking facility based on the contract of IjarahwaIqtina which allows you to hire and subsequently purchase assets from the Bank. It is a form of rental for usage of equipment at a fixed agreed amount during the financing tenure.

The Jaiz Ijara service is designed to augment companies' working capital to pay for salaries, professional services, labor and travels. Under the Ijara Service the Bank will purchase/lease the asset from the service provider and enter into lease agreement with the customer in consideration (Lease Rental).

Musharaka is a mode of financing in the form of a partnership between the bank and its client whereby each party contributes to the capital of the partnership in equal or varying degrees either to establish a new project or share in an existing project.

The product is tailored to customers that are contractors of Government and major companies that require guarantees such as (Advance Payment Guarantee, Performance Bond, Bid Bond etc).  The surety is provided under the concept of Kafalah/Wakala, whereby the bank agrees to guarantee the liability of the applicant. 

Ever thought of financing your import/export business? We have designed different categories to suit you.

The product is designed for customers that are involved in import businesses. Under import finance, a letter of credit is issued by Jaiz Bank in favour of a beneficiary (exporter) on behalf of the applicant (importer).  The Bank commits and accepts to pay against trade documents drawn in compliance with the letter of credit terms.  

Under the export finance facility, the Bank will extend the export finance facility to the customer to purchase goods/raw materials against receipt of an inward letter of credit from the importer. 

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