{{Short description|Commercial Institute in Nigeria}} {{Use Nigerian English|date=June 2026}} {{Infobox company | name = Jaiz Bank Plc | logo = Jaiz New Logo.jpg | logo_alt = Jaiz Bank's logo | image = New Jaiz Bank Head Office, Abuja.png | image_alt = Jaiz Bank Headquarters in Abuja, Nigeria | image_caption = Jaiz Bank Headquarters in Abuja, Nigeria | type = Private | traded_as = NSE:[https://ngxgroup.com/exchange/data/company-profile/?isin=NGJAIZBANK05&directory=companydirectory JAIZBANK] | foundation = {{start date |2003}} | location = Abuja, Nigeria | num_locations = 45 branches | num_locations_year = 2023 | key_people = Mohammed Mustapha Bintube (Chairman),<ref>[https://leadership.ng/jaiz-bank-appoints-bintube-board-chairman/ JAIZ Bank Appoints Bintube Board Chairman]</ref> Haruna Musa (Managing Director & Chief Executive Officer)<ref>[https://dailytrust.com/jaiz-bank-appoints-haruna-musa-as-md-ceo/ Jaiz Bank Appoints Haruna Musa As MD/CEO]</ref> | num_employees = 499 | revenue = {{loss}}Aftertax:US$26.56 million (NGN:8.01 billion) (2018) | assets = N378.69billion (February 2023) | ISIN = NGJAIZBANK05 | industry = Banking | products = Savings Account (Mudaraba),Current Account(Qard)Term Deposit Account, Sales Products,Leasing Products, Partnership Products (Financing) | homepage = {{url |http://jaizbankplc.com/ }} }}
'''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.<ref>{{Cite news|url=http://allafrica.com/stories/201207050586.html|title=Nigeria: Jaiz Bank Seeks National Licence With N8 Billion Fresh Capital|last=Anthony-Uko|first=N. S. E.|date=2012-07-05|work=Leadership (Abuja)|access-date=2017-08-29}}</ref>
{{asof|December 2012}}, 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).<ref>{{Cite news|url=http://allafrica.com/stories/201312200277.html?viewall=1|title=Nigeria: Jaiz Bank Records Operating Loss of N1.07 Billion in 2012 - Says Mutallab|last=Lere|first=Mohammed|date=2013-12-20|work=Premium Times (Abuja)|access-date=2017-08-29}}</ref> The Bank operates 27 branches and provides regular ATM service as well as online, mobile, and SMS banking services.<ref>{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=206564505|title=Jaiz Bank Plc: Private Company Information - Bloomberg|website=bloomberg.com|access-date=2018-03-09}}</ref>
==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.<ref>{{Cite news |url=http://leadership.ng/nga/articles/28936/2012/07/05/jaiz_bank_seeks_national_licence_n8bn_fresh_capital.html |title=History of Jaiz Bank Plc |access-date=2012-07-05 |archive-date=2013-02-22 |archive-url=https://archive.today/20130222154846/http://leadership.ng/nga/articles/28936/2012/07/05/jaiz_bank_seeks_national_licence_n8bn_fresh_capital.html |url-status=dead |newspaper=Leadership}}</ref><ref>{{Cite web |url=http://jaizbankplc.com/about-us/corporate-profile.aspx |title=The Origins of Jaiz Bank Plc |access-date=2012-07-05 |archive-url=https://web.archive.org/web/20120624211407/http://jaizbankplc.com/about-us/corporate-profile.aspx |archive-date=2012-06-24 |url-status=dead }}</ref>
In 2013, Jaiz Bank was in the process of expanding to urban centers in all states of the Federal Republic of Nigeria.<ref>{{cite web |url=http://jaizbankplc.com/personal-banking.aspx |title=Website of Jaiz Bank Plc |access-date=2012-07-05 |archive-url=https://web.archive.org/web/20120624011721/http://jaizbankplc.com/personal-banking.aspx |archive-date=2012-06-24 |url-status=dead }}</ref> 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).<ref>{{Cite news|url=http://allafrica.com/stories/201301300979.html|title=Nigeria: Saudi Firm to Invest in Jaiz Bank|last=Ahmed|first=Idris|date=2013-01-30|work=Daily Trust (Abuja)|access-date=2017-08-29}}</ref> The bank applied for a national banking license, once it met its shareholders' capital objectives<ref>{{Cite news |url=http://leadership.ng/nga/articles/28936/2012/07/05/jaiz_bank_seeks_national_licence_n8bn_fresh_capital.html |title=Jaiz Bank Seeks National Banking Licence |access-date=2012-07-05 |archive-date=2013-02-22 |archive-url=https://archive.today/20130222154846/http://leadership.ng/nga/articles/28936/2012/07/05/jaiz_bank_seeks_national_licence_n8bn_fresh_capital.html |url-status=dead |newspaper=Leadership}}</ref> and was issued the license in 2016 <ref>{{Cite news |title=Jaiz Bank secures licence to deliver Islamic banking |url=http://thenationonlineng.net/jaiz-bank-gets-national-licence/ |location=Lagos, Nigeria|newspaper=The Nation|accessdate=20 February 2019}}</ref><ref>{{Cite news |title=Jaiz Bank obtains national licence |url=https://www.vanguardngr.com/2016/05/jaiz-bank-obtains-national-licence/ |location=Lagos, Nigeria|newspaper=Vanguard|accessdate=20 February 2019}}</ref>
==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:<ref>{{Cite news |last=Akinseinde-Jayeoba |first=Kehinde |date=2024-03-18 |title=NGX approves Jaiz Bank private placement of 10.048bn shares |url=https://tribuneonlineng.com/ngx-approves-jaiz-bank-private-placement-of-10-048bn-shares/ |access-date=2026-02-17 |newspaper=Nigerian Tribune|language=en-GB}}</ref>
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto" |+ '''Jaiz Bank Stock Ownership''' !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% |}
==See also== * List of banks in Nigeria * Islamic banking * Interest-free economy * Economy of Nigeria {{Portal|Banks}}
==References== {{reflist}}
{{DEFAULTSORT:Jaiz Bank}} Category:Banks of Nigeria Category:Banks established in 2003 Category:Economy of Abuja Category:Islamic banks