All Nigerian Banks Should Emulate Islamic Jaiz Bank Policies” – Emir Of Gwandu
The Emir of Gwandu and Chairman, Kebbi State Council of Chiefs, Alhaji Muhammad Bashar, has urged banks in Nigeria to emulate Islamic Jaiz Bank Plc soft banking policies and principles of making life better for the people.
The monarch gave the advice in Birnin Kebbi when he received the Managing Director of the bank, Malam Hassan Usman, who paid him a courtesy call.
He described the emergence of the bank as timely in view of its banking principles, devoid of interest toward making life meaningful to all its customers.
“Jaiz bank, although an Islamic bank, is accepted even in Western countries because of its transparent policies and principles of making life better for the people.
“I really commend you and your resilience in spite of the challenges you faced before you got to where you are today, ‘’ Bashar said.
Earlier, the managing director of the bank, said the visit was in appreciation of the support and cooperation rendered by the Emir toward the establishment of the bank.
He said the bank started operations five years ago with provisional approval to open three branches in Abuja , Kaduna and Kano, adding that “the CBN has now given us approval to open branches nationwide’’.
“We have 27 branches with three new ones to be established in February this year,’’ Usman said.
According to him, when the bank started its operation, it had only N5 billion capital but now it has risen to N15 billion and N10 billion will also be added to make it N25 billion before the end of the year.
Usman said that customers’ savings had risen from N12 billion to N50 billion.
“The bank’s operational system is devoid of interest, unlike other conventional banks and even Non-Muslims can save and benefit from the bank’s loan,’’ he said..
The first person to benefit from our package is a Non-Muslim and I am happy that even the conventional banks are now adopting some of our principles, ‘’ he said.