The Central Bank of Nigeria has granted Jaiz Bank a banking licence to offer Islamic banking services across the country.
Jaiz Bank chairman Alhaji Umaru Abdul-Mutallab said: "As a regional bank, Jaiz has operated in 12 states (in Northern Nigeria) but with the new licence we can now spread to all parts of the country. We will open branches in the 36 states of the federation."
Jaiz Bank was created out of the ashes of the former Jaiz International which was set up in 2003/2004 as a special purpose vehicle (SPV) to establish Nigeria’s first full-Pledged Non-Interest Bank.
It is an unquoted public company owned by over 3000 shareholders spread over the six geographical zones of Nigeria.
It obtained a Regional operating license to operate as a Non-Interest Bank from the Central Bank of Nigeria in November 2011 and begun full operations as the first Non-Interest Bank in Nigeria in January, 2012 with three branches located in Abuja FCT, Kaduna and Kano.