Jaiz Bank, the pioneer non-interest (Islamic) bank in Nigeria, has concluded plans to go national, few months after it received an approval-in-principle from the Central Bank of Nigeria (CBN) to extend its business nationwide.
Authorities at the bank said additional branches would soon open in Lagos, Ibadan, Ilorin and Port Harcourt.
“This is in line with the Approval – In – Principle issued to the bank by the CBN to go national. With this approval, we intend to have presence in the six geopolitical zones to start with,” Halilu Murtala, the bank’s manager in Kaduna, said.
“We have already finalised arrangements in fulfilment of CBN’s requirements towards going national. As soon as the CBN gives its nod, we will open in these locations for full banking. Our plan is to add at least 10 more branches spread across the country before the end of this year,” Murtala said.
Jaiz Bank commenced operations in 2012, with only three branches in Abuja, Kano and Kaduna. By the end of last year, the bank had increased its branch network to 19.
Speaking in Kaduna at the just concluded International Trade Fair organised by the Kaduna Chamber of Commerce, Industries, Mines and Agriculture (KADCCIMA), Murtala said the bank was ready to bring its specialised banking close to the doorsteps of Nigerians, Christians, Muslims, etc.
“We have SMEs and Retail products designed for critical segment of the society. Our philosophy is to better the life of all, irrespective of their tribal or religious background,” he said.
