January 27, 2023

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Islamic banking is only enterprise – MD Jaiz Financial institution


The brand new Managing Director of Jaiz Financial institution, Nigeria’s first Islamic and non-interest financial institution, Dr. Siraju Salifu, Tuesday mentioned that the financial institution was purely a enterprise enterprise.

He additional acknowledged that non-muslims can personal shares, be employed and be a part of a regulatory staff of the financial institution.

Talking in his maiden interplay with monetary journalists in Abuja Dr Salifu identified that the enterprise is being performed below the tenets of Sharia injunctions which ensures that there’s transparency and accountability in all transactions.

“We attempt to carry it nearer to the folks and it’s transaction-based, which can also be based mostly on enterprise calculation for revenue considering the coverage of confidentiality.”

Based on him, the financial institution can provide out loans from N1 billion to its prospects, whereas calling on the media and different stakeholders to companion with Jaiz Financial institution for higher understanding in addition to to make sure a win win scenario for all involved.

He expressed delight that the financial institution that took of with solely three branches now has 45 and is working as a business financial institution.

In his remarks, the Chairman of the Finance Correspondents Affiliation of Nigeria (FICAN) Abuja Chapter, Mr. Nduka Chiejina assured the brand new Jaiz Financial institution boss of cooperation and a wholesome working relationship.

He urged the MD and his administration staff to all the time see the necessity to work with affiliation and different stakeholders to maneuver the banking sector to the following degree.

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