THE PROPOSED JAIZ INTERNATIONAL BANK PLC

Jaiz International plc was incorporated on 1 st April 2003 as a public limited company with an authorised share capital of =N= 2.5 Billion ( US $18.5 Million ) . The main objective is to be an investment holding company to set up non interest institutions such as Islamic Bank, Takaful, Pension Fund Administration etc. The Bank, being the major driver of the other institutions is the main focus for now. With Universal banking now fully embraced in Nigeria , once the Bank is set up , it can offer the above services as full fledged subsidiaries , divisions or units

Nigeria with a population of over 125 million people is without doubt the most populous nation in Sub-Saharan Africa. A good proportion of the population is Muslim majority of who have been craving for a non-interest banking institution such as the one we propose to set up. The situation is so acute that a number of the devout faithful have resorted to keeping their money outside the Banking system to avoid usury. We have therefore identified a unique opportunity for the establishment of a non-interest Banking institution to serve this community and the rest of West Africa.