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Published On: Tue, Mar 4th, 2014

JAIZ Bank wins ‘Unique Banking Product’ award

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jaiz bank logoBy Etuka Sunday

Jaiz Bank Plc has been adjudged the bank with the Unique Banking Products by the Kaduna Chambers of Commerce, Industry, Mines and Agriculture (KADUCCIMA).

The Bank in a statement said the award was given at the just concluded Kaduna International Trade Fair based on the Bank’s unique product, Murabaha, Cost Plus Financing.

Murabaha is a convenient financing product for corporate and individual customers, which is tailored for short term finance requirements such as working capital or asset acquisition.

The statement quoted the Kaduna branch manager of the Bank, Halilu Mohammed Murtala, who received the award on behalf of the Bank as saying that the bank’s customer base has hit over 60, 000 from zero it started with when it commenced operations in January 2012.

Murtala told visitors who stormed Jaiz Bank’s stand at the Trade Fair that the Bank has doubled its capital base from N5 billion to over N10 billion.

People from different works of life trooped the Bank’s pavilion to open account and also to enquire on how they can do business with the Bank.

Murtala told them that Jaiz Bank, like every other commercial banks is opened to everybody for businesses irrespective of their religious or regional background.

He said a good number of Jaiz Bank’s staff are Christians and are also from southern part of the country, “and many of our depositors are Christians from Southern part of the country too.”

The Branch Manager also informed the visitors that as at the end of last year, the Bank’s deposits closed with N22 billion balance, “and we hope to double it this year.”

On the national license, he said he hopes to get it any moment from now and “after we get the national license we will open branches in all parts of the country.

“I can tell you that so far so good. From three branches we started with in Abuja, Kano and Kaduna, we now have 11 branches. We plan to open additional 25 branches before the year ends.”

 

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