Article summary
- Mohammed Mustapha Bintube and Muhammad Hadi Abdulmutallab have been appointed as Non-Executive Directors of Jaiz Bank Plc
- The appointments have been approved by the Central Bank of Nigeria (CBN).
- The bank closed its last trading day (Friday, May 5, 2023) at N0.91 per share on the Nigerian Stock Exchange (NGX),
The Board of Jaiz Bank Plc has announced the appointments of Mohammed Mustapha Bintube and Muhammad Hadi Abdulmutallab as Non-Executive Directors of the bank.
This is contained in the bank’s notice of board change to Nigerian Exchange Limited (NGX) and the public obtained by Nairametrics.
The appointments according to the statement signed by Mohammed Shehu, the Company Secretary/ Legal Adviser have been approved by the Central Bank of Nigeria (CBN).
Profile of Mohammed Mustapha Bintube
According to the statement Bintube is currently the Chairman/CEO of Buraq Capital Limited. He was the pioneer MD/CEO of the Bank from 2011-2013. He has over 40 years of experience across multiple sectors.
Bintube is a graduate of Business Administration and has an advanced Diploma in Banking and Finance. He has attended various training courses across the globe.
Profile of Muhammad Hadi Abdulmutallab
Abdulmutallab is a graduate of Economics and Logistics from the University of Hull, England. He received his MBA in Islamic Finance from the Canadian University, Dubai. He is currently the Managing Director of Incar Petroleum Nigerian Plc. He has attended various trainings across the globe including the Company Direction Courses offered by the Institute Directors.
What you should know
Jaiz Bank Plc was created out of the former Jaiz International Plc which was set up in 2004 to establish Nigeria’s first full-fledged non-interest bank.
Jaiz Bank obtained a regional operating license (which allows the bank to operate geographically in a third of the country) as a non-interest bank from the Central Bank in November 2011 and began full operations in January the following year with 3 branches located in Abuja FCT, Kaduna, and Kano. The bank recently obtained approval from the Central Bank of Nigeria to operate in all parts of the federation.
Its ultimate objective is to expand beyond the shores of Nigeria in line with its principle of being 100% Shari’ah compliant, however, without religious bias or discrimination.
Jaiz Bank Plc is listed on the Nigerian Stock Exchange (NGX). The bank closed its last trading day (Friday, May 5, 2023) at N0.91 per share on the Nigerian Stock Exchange (NGX), recording a 4.2% drop from its previous closing price of N0.95. Jaiz began the year with a share price of N0.92 but has since lost 1.09% off the price valuation.
