Jaiz Bank
Commercial Institute in Nigeria
From Wikipedia, the free encyclopedia
Jaiz Bank Plc, is a bank in Nigeria operating under Islamic banking principles and is a non-interest bank. It is the first non-interest bank established in Nigeria and is headquartered in Abuja, the capital city of the country.[3]
| |
 Jaiz Bank Headquarters in Abuja, Nigeria | |
| Company type | Private |
|---|---|
| NSE:JAIZBANK | |
| ISIN | NGJAIZBANK05 |
| Industry | Banking |
| Founded | 2003 |
| Headquarters | Abuja, Nigeria |
Number of locations | 45 branches (2023) |
Key people | Mohammed Mustapha Bintube (Chairman),[1] Haruna Musa (Managing Director & Chief Executive Officer)[2] |
| Products | Savings Account (Mudaraba),Current Account(Qard)Term Deposit Account, Sales Products,Leasing Products, Partnership Products (Financing) |
| Revenue |  Aftertax:US$26.56 million (NGN:8.01 billion) (2018) |
| Total assets | N378.69billion (February 2023) |
Number of employees | 499 |
| Website | jaizbankplc |
As of December 2012[update], the bank was a medium-sized, financial services provider in Nigeria. At that time, the bank's total assets were valued at US$88.8 million (NGN:14.1 billion), with shareholders' equity of about US$63.6 million (NGN:10.1 billion).[4] The Bank operates 27 branches and provides regular ATM service as well as online, mobile, and SMS banking services.[5]
History
The institution was founded in 2003, as Jaiz International Plc. On 11 November 2011, Jaiz International received a license from the Central Bank of Nigeria, the national banking regulator, to operate as a regional bank. On 6 January 2012, the institution commenced business as Jaiz Bank Plc in offices and branches in Abuja, Kaduna and Kano.[6][7]
In 2013, Jaiz Bank was in the process of expanding to urban centers in all states of the Federal Republic of Nigeria.[8] In pursuit of that goal, the bank had received approval to increase shareholders' capital from the then current value, to US$92.3 million (NGN:14.3 billion). In January 2013, print media reports indicated that, at that time, shareholder's equity in the bank exceeded US$71 million (NGN:11 billion).[9] The bank applied for a national banking license, once it met its shareholders' capital objectives[10] and was issued the license in 2016 [11][12]
Ownership
As of 31 December 2024, the bank’s largest shareholder is Muhammadu Indimi, who holds approximately 24.06% of the issued share capital. Other significant shareholders include:[13]
| Name of Owner | Percentage Ownership |
|---|---|
| Muhammadu Indimi | 24.06% |
| Dantata Investment & Securities Ltd | 11.65% |
| Umaru Abdul Mutallab | 10.13% |
| Althani Investment Ltd | 7.53% |
| Islamic Development Bank | 7.26% |
| Dangote Industries Limited | 7.24% |
