# Jaiz Bank > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Jaiz_Bank > Markdown URL: https://mediated.wiki/source/Jaiz_Bank.md > Source: https://en.wikipedia.org/wiki/Jaiz_Bank > Source revision: 1357263663 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{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](/source/Private_company) | traded_as = [NSE](/source/Nigerian_Exchange_Group):[https://ngxgroup.com/exchange/data/company-profile/?isin=NGJAIZBANK05&directory=companydirectory JAIZBANK] | foundation = {{start date |2003}} | location = [Abuja](/source/Abuja), [Nigeria](/source/Nigeria) | num_locations = 45 branches | num_locations_year = 2023 | key_people = Mohammed Mustapha Bintube ([Chairman](/source/Chairman)),[https://leadership.ng/jaiz-bank-appoints-bintube-board-chairman/ JAIZ Bank Appoints Bintube Board Chairman] Haruna Musa ([Managing Director](/source/Managing_Director) & [Chief Executive Officer](/source/Chief_Executive_Officer))[https://dailytrust.com/jaiz-bank-appoints-haruna-musa-as-md-ceo/ Jaiz Bank Appoints Haruna Musa As MD/CEO] | num_employees = 499 | revenue = {{loss}}Aftertax:US$26.56 million (NGN:8.01 billion) (2018) | assets = N378.69billion (February 2023) | ISIN = NGJAIZBANK05 | industry = [Banking](/source/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](/source/bank) in [Nigeria](/source/Nigeria) operating under [Islamic banking](/source/Islamic_banking) principles and is a non-interest bank. It is the first non-interest bank established in Nigeria and is headquartered in [Abuja](/source/Abuja), the capital city of the country.{{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}} {{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).{{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}} The Bank operates 27 branches and provides regular ATM service as well as online, mobile, and SMS banking services.{{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}} ==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](/source/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.{{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](/source/Leadership_(newspaper))}}{{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 }} In 2013, Jaiz Bank was in the process of expanding to urban centers in all states of the [Federal Republic of Nigeria](/source/Federal_Republic_of_Nigeria).{{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 }} 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).{{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}} The bank applied for a national banking license, once it met its shareholders' capital objectives{{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](/source/Leadership_(newspaper))}} and was issued the license in 2016 {{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](/source/The_Nation_(Nigeria))|accessdate=20 February 2019}}{{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](/source/Vanguard_(Nigeria))|accessdate=20 February 2019}} ==Ownership== As of 31 December 2024, the bank’s largest shareholder is [Muhammadu Indimi](/source/Mohammed_Indimi), who holds approximately 24.06% of the issued share capital. Other significant shareholders include:{{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](/source/Nigerian_Tribune)|language=en-GB}} {| 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](/source/Umaru_Mutallab)||10.13% |- |Althani Investment Ltd||7.53% |- |[Islamic Development Bank](/source/Islamic_Development_Bank)||7.26% |- |Dangote Industries Limited |7.24% |} ==See also== * [List of banks in Nigeria](/source/List_of_banks_in_Nigeria) * [Islamic banking](/source/Islamic_banking) * [Interest-free economy](/source/Interest-free_economy) * [Economy of Nigeria](/source/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 --- Adapted from the Wikipedia article [Jaiz Bank](https://en.wikipedia.org/wiki/Jaiz_Bank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Jaiz_Bank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.