The board of Jaiz Bank has approved the appointment of Mr. AbdulFattah Olanrewaju Amoo as Executive Director, Operations and Chief Finance Officer (CFO) of the bank.
His appointment which takes effect from November 6 2017, is subject to the approval of the Central Bank of Nigeria (CBN).
About Jaiz Bank
Jaiz Bank Plc. was established out of the former Jaiz International Plc which was set up in 2003/2004 as a Special Purpose Vehicle (SPV) to establish Nigeria’s first full-Fledged Non-Interest Bank.
It is an unquoted Public Company owned by over 20,000 shareholders including the Islamic Development Bank (IDB).
Currently, Jaiz Bank is the only full-fledged Non-Interest (Islamic) Bank in Nigeria. It recently obtained an approval from the Central Bank of Nigeria (CBN) for a National Operating License. This will enable it to operate in all parts of the Federation. The Bank’s ultimate objective is to expand beyond the shores of Nigeria in line with its vision.
Non-Interest Banking is a profit growing global phenomenon practiced in nearly 70 countries all over the world including, United Kingdom, Canada, United States of America, United Arab Emirate, Malaysia, China, Singapore, South Africa, Kenya etc.
Global Banks like HSBC, Citibank, Barclays Bank etc. are also offering it. It is an alternative financial service offering which is open to all irrespective of race or religion.