JAIZ Bank wins most improved Islamic bank award

Published by

5 years ago

MANAGING Director of Jaiz Bank, Mallam Hassan Usman

Jaiz Bank has been awarded the Most Improved Islamic Bank 2020 in the world by the Global Islamic Finance Awards (GIFA).

The Global Islamic Finance Awards (GIFA) are one of the most prestigious awards in Islamic banking and finance.

Other prestigious awards are Islamic Development Bank Prize in Islamic Banking and Finance (also known as ‘IDB Prize’) and The Royal Award for Islamic Finance, founded by the government of Malaysia.

In a congratulatory letter to Hassan Usman, Managing Director/CEO of Jaiz Bank, Professor Humayon Dar, the Chairman of GIFA, said the GIFA methodology upon which the awards are based and winners selected “is the most detailed approach to screen only the best of the best in their respective award categories. Basically, there are three factors considered in the selection of a winner.”

According to him, an organisation is considered socially responsible if it makes continuing efforts to behave ethically and contribute to economic development while improving the quality of life of its employees and the local community and society at large.

“An organisation is considered Shari’a authentic if it commits itself to the Shari’a Standards issued by an independent body like the Accounting and Auditing Organisation for Islamic Finance Institutions (AAOIFI) or a national body set up to issue Shari’a guidelines.

“The selection criteria allocates a maximum points to full-fledged stand-alone Islamic banks and financial institutions.”

The Awards Committee noted that Jaiz Bank was able to meet all the above factors, hence the basis for its selection as the winner.

In his response, the Managing Director/CE of Jaiz Bank Hassan Usman thanked GIFA for choosing the bank as the Most Improved Islamic Bank in the world.

He said: “We are pleased that the world watches and appreciates our modest contributions to the development of Islamic Finance.

“This award is dedicated to our creator, in whose Grace all things are perfected.

“We are deeply appreciative of the contributions of our loyal customers, dedicated staff and committed shareholders.’’

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

CROSSFIRE: Don’t Join Proposed Strike By Labour, FG Warns Civil Servants

The Federal Government has warned civil servants not to obey the call for industrial action by labour unions.

CROSSFIRE: No Going Back On Nationwide Strike — Labour

DESPITE court restriction, the total shutdown of government offices and all business activities is imminent as the industrial strike and a nationwide protest declared by the organised labour over the increase in the prices of fuel and electricity tariff commences early Monday morning.

ICYMI: Death Toll In Zulum’s Convoy Attack Rises To 30 ― Report

The death toll from Boko Haram attack on the convoy of Borno State Governor, Babagana Zulum, has risen to 30, security sources said Saturday.

US President Donald Trump said on Friday that Americans might not know the winner of the November presidential election for months due to disputes over mail ballots, building on his criticism of a method that could be used by half of US voters this year, Reuters reports.