Jaiz Bank, Nigeria: A Case Study on Non-Interest Bank

Vrajlal Sapovadia

MPRA Paper from University Library of Munich, Germany

Abstract: This case study is on Jaiz Bank, Nigeria; first full fledged non-interest bank of Nigeria. Jaiz Bank commenced operations with three branches in Abuja, Kaduna and Kano states in 2012, after it received license from the Central Bank of Nigeria (CBN) on the 11November 2011 to operate as a non-interest bank. Currently the bank operates in six states with eighteen branches. The Paid up Capital as on 31st December 2014 was ₦ 11,829,700,000. The bank plans to operate in all 36 states by upgrading and availing national operating license and increasing the share capital base to N15 billion (USD $78 million). The Central Bank of Nigeria has granted a national license and a waiver on the reduction of its liquidity ratio from 30% to 10%. The bank have massive expansion plan and intends to open 100 branches in first five years.

Keywords: Banking; Non-interest banking; Islamic Finance; Islamic Banking (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2015-12-01
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