Jaiz Bank grants over N1bn loan to non-Muslims, says MD

Jaiz Bank has disbursed over N1 billion loan facilities to Micro Small and Medium Enterprises (MSMEs) owned by non-muslims.

This was disclosed on Tuesday in Abuja by the Managing Director of Jaiz Bank, Dr Sirajo Salisu, while throwing more light on the public perception surrounding Islamic banking in Nigeria.

Speaking during an interactive session with journalists at the Bank’s headquarters in Abuja, Dr Sirajo who before his new appointment was the Executive Director, Northern operations of the Bank said there is a need for Nigerians to be enlightened on what Islamic and non-interest banking entails

He said: “the message we want to pass across to Nigerians is that non-interest banking is pure business and a non-Muslim can be a shareholder of an Islamic bank not only in Nigeria but everywhere. Also, a non-Muslim can be a customer and staff of an Islamic bank.

“We at Jaiz bank will keep emphasising that anywhere you hear Islamic banking, it is just business, which is guided under sharia guidelines that preaches transparency and accountability.

“As of today, many non-muslins have benefited from our loan facility of N1 billion and above since Jaiz Bank came on board.”

He added that the bank focuses on transactional banking which is why it sometimes makes profit more than conventional banks, noting that over the past 10 years, the bank’s profitability and financial viability have grown as plans have reached an advanced stage to expand its branch network by five very soon.

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