Jaiz Bank Plc. is a relatively new bank in Nigeria. The bank originated from Jaiz International Plc, an institution set up in 2004 or thereabout. Jaiz International Plc was set up as Special Purpose Vehicle.
Its original purpose of set up was to act as a Non Interest Bank. There are up to 20,000 shareholders involved in the bank. One of the shareholders is Islamic Development Bank.
The bank got its regional operating license that enables it to operate a non-interest Bank on 11th November, 2011 from the Central Bank of Nigeria. Full operation actually began on 6th January, 2012. They started with just 3 branches and these branches were located in Kano, Kaduna and Abuja FCT.
As at today, Jaiz Bank is the only bank operating as full-fledged Non-Interest (Islamic) Bank in Nigeria. The bank has vision to expand beyond the coast of Nigeria in the future.
Board of Directors of the bank is made up of 10 members. They are highlighted below:
- Alhaji (Dr.) Umaru Abdul Mutallab, CON. He is the Chairman.
- Aminu Alhassan Dantata, CON. He is a member
- Professor Tajudeen Adebiyi. He is a member
- Alhaji (Dr.) Muhammadu Indimi, OFR. He is a member
- Mallam Falalu Bello, OFR. He is a member
- Nafiu Baba-Ahmed, mni. He is a member
- Mohamed Ali Chatti. He is a member
- HRH, (Engr.) Bello Mohammed Sani, OON. He is a member
- Alhaji (Dr.) Musbahu Mohammad Bashir. He is a member
- Alhaji (Dr.) Umaru Kwairanga. He is a member
- Alhaji Mukthar Sani Hanga. He is a member.