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Published On: Fri, Mar 28th, 2014

JAIZ increases branches to 13 in Nigeria

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jaiz bank logoBy Etuka Sunday

Jaiz Bank plc, the first non-interest bank in Nigeria has increased its branch network to thirteen.

The latest entrants into the Bank’s branch network are Sokoto, Bauchi and additional branch in Kano bring the total branches in Kano to three.

The Bank commenced operations with three branches in Abuja, Kaduna and Kano states on the 6th January, 2012, after it received license from the Central Bank of Nigeria on the 11th of November 2011 to operate as a non-interest bank.

Other locations why Jaiz has branches are Gombe, Maiduguri, Katsina and Gusau (Zamfara state). The bank has three branches in Abuja, located at Kano House Central Business District, the National Assembly and Wuse District.

A statement from the Head, Corporate Communication of Jaiz Bank, Idris Salihu said more branches will be added before the end of the year.

He said: “Works are progressively going on in Yola, Zaria and a second branch in Bauchi of which we hope to commission all in the second quarter of 2014.. We are also working towards adding two or more

branches in Kano, Kaduna and Katsina with additional locations in Abuja, Overall, we looking at about 25 branches before the end of the year.”

He said the Bank has already applied for a National License to enable it expand its presence in all the state capitals of the federation and is optimistic that this will come through soon God’s Willing. “This

will enable us meet the needs of the vast majority of Nigerians who are craving for this alternative means of banking”

Salihu said the bank has raised its capital base from N5 billion it started with in 2012 to over N10 billion.

He said: “You know our bank is a specialized bank and the CBN’s requirement for a regional specialized bank is a minimum of N5 billion and N10 billion for a specialized bank like ours that wishes to obtain

a national license.

“Our vision is to be the dominant non-interest financial service provider in sub Saharan Africa. We intend to achieve this by providing innovative, value-added, non-interest financial services to our

clientele by employing the best people, supported by technology.” That is our goal he emphasized!

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