Islamic banking: Jaiz Bank commences operation in Gombe



An Islamic Non-Interest Bank, NIB, Jaiz Bank Plc, has commenced operation in Gombe State with a plan to be at every state capital of the federation in the next four years.
The bank, which commenced business on January 6, 2012 has branches in Abuja, Kano and Kaduna, bringing to four the number of branches in the country after the issuance of its licence by the Central Bank of Nigeria, CBN.
Chairman of the Board of Directors of the bank, Alhaji Umaru Mutallab, at the commissioning ceremony of the Gombe office said the bank plans to be in all the 36 states of the federation in the next four years.
He said their coming to Gombe was informed by the bank’s desire to make positive contributions to society through the encouragement of enterprise, empowerment of the economic base of the society as well as provide access to innovative channels of financing that are better alternatives to interest-based systems.
He assured that the bank is open to all irrespective of race or religion and would identify and promote all the very positive ideals that Gombe State is known for.
Gombe State Governor, Alhaji Ibrahim Dankwmbo, who commissioned the bank, which is located on New Market Road, Gombe, said the bank which operates on both conventional and Islamic models would provide genuine options for those people who may consider the concept of interest on money as not being in conformity with the tenets of their faith.

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