Jaiz Islamic Bank to open in Lagos and Kwara

Dr Mizanur Rahman, Representative of the Jaiz Islamic Bank in Nigeria has disclosed that the bank will open its branch offices in kwara and Lagos respectively.

Rahman made the disclosure the jointly organised thematic workshop on Development of Islamic Banking in Africa at the Alhikmah University in Ilorin.

The workshop was jointly organised by the Research and Training Institute (IRTI) in Saudi Arabia, the University of Ilorin and Al-Hikmah University.

According to him, the bank which had 15 branches across the globe is set to widen its branch also in Nigeria, adding that with much awareness campaign people would realize the benefit of the bank.

He lamented that due to limited scope within the country it lost about N1 billion but reiterated its hope that the bank would do well in 2015.

Dr Mohamad Azmi-Omar, The IRTI, Director General in his speech emphasised the need for proper development and improvement of Islamic banking in Nigeria and African countries at all level.

The DG of the Institute, who was represented by Dr Ousmane Seck noted the need for Africans to embrace Islamic banking as means of ensuring human capital development and to eradicate poverty since it is non interest banking.
Azmi-Omar stated that the Islamic being free of interest was capable of reducing poverty in the world.

Earlier in his speech, Prof Abdulganiyu Ambali, Vice-Chancellor of the University of Ilorin, who was represented by Prof. Gabreal Olatunji advocated for expansion of Islamic banking in Africa.

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