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Jaiz Bank capitalisation hits N13bn

By on July 18, 2013

Jaiz Bank plc, Nigeria’s first non-interest bank has raised its authorized share capital to N13 billion and now has 10 branches after one and a half years of operation.

The latest branch which was opened in Kastina town was commissioned by governor Ibrahim Shehu Shema, yesterday.

The governor pledged to identify with the ideals of the bank and support its operations.

“Katsina State Government is ready to partner with and support Jaiz bank and other Financial Institutions that are ready to invest in the real sector of the economy, to enable the State attain greater economic prosperity.

”Today, we extend our unique hospitality to Jaiz Bank, as we say welcome to Katsina. There is no doubt that the people of Katsina and many other parts of Nigeria have been agitating for a financial service provider that operates based on rules of commerce and trade, in accordance with Sharia Principles,” he said.

Chairman, board of directors of Jaiz Bank, Alhaji Umaru Mutallab thanked, the governor and people of Katsina for their hospitality and promised to help develop the real sector of the economy of the state.

He said: “Our vision is to be the dominant non-interest financial service provider in sub Saharan Africa. We intend to achieve this by providing innovative, value-added, non-interest financial services to our clientele by employing the best people, supported by technology.”

According to him, there were plans to locate additional branches in Bauchi, Zamfara, Sokoto, Kebbi and Jigawa States and to open additional branches at Bayero University Kano, Federal Secretariat Abuja and Zaria, before end of year 2013.