Jaiz Bank PLC is a national bank and a quoted public company owned by over 26,000 shareholders spread over the six geo-political zones of Nigeria.The Bank’s balance sheet has grown from N12 billion in 2012 to about N62 billion, with asset financing of over N30 billion.
The Bank was created out of the former Jaiz International Plc which was set up in 2003/2004 as a Special Purpose Vehicle (SPV) to establish Nigeria’s first full-fledged Non-Interest Bank.
It obtained a Regional Operating Licence to operate as a Non-Interest Bank from the Central Bank of Nigeria on the 11th of November 2011 and began full operations as the first Non-Interest Bank in Nigeria on the 6th of January, 2012 with 3 branches located in Abuja FCT, Kaduna and Kano. The Regional Licence allowed the Bank to operate geographically in a third of the country. Also, based on recommendations from Islamic Development Bank (IDB), which is also a shareholder of the bank, Jaiz Bank PLC had partnered with Islamic Bank of Bangladesh (IBBL) for Technical and Management Assistance.