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

Abstract

This case study is about Jaiz Bank Plc, Nigeria. Jaiz Bank was carved out in 2012 from Jaiz International Plc, a public company incorporated in 2003. 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.