MD Jaiz Bank: Islamic banking is purely business

Dr. Siraju Salifu, the new Managing Director of Jaiz Bank, Nigeria’s first Islamic and non-interest bank, stated on Tuesday that the bank was purely a business venture.

 

He also stated that non-Muslims can own shares, work for the bank, and be part of its regulatory team.

 

In his first interaction with financial journalists in Abuja, Dr Salifu stated that the business is run in accordance with Sharia injunctions, which ensure transparency and accountability in all transactions.

 

We try to bring it closer to the people and it is transaction-based, which is also based on business calculation for profit taking into consideration the policy of confidentiality.

 

According to him, the bank can make loans to customers starting at N1 billion, while urging the media and other stakeholders to collaborate with Jaiz Bank for better understanding and to ensure a win-win situation for all parties involved.

 

He was overjoyed that the bank, which began with only three branches, now has 45 and is operating as a commercial bank.

 

Mr. Nduka Chiejina, Chairman of the Finance Correspondents Association of Nigeria (FICAN) Abuja Chapter, assured the new Jaiz Bank CEO of cooperation and a healthy working relationship in his remarks.

 

He urged the MD and his management team to always see the need to collaborate with associations and other stakeholders to advance the banking sector. CONTINUE READING……………………………

 

 

 

 

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