Nigeria

Flag
Country Code
NG

First Islamic bank opens in Nigeria

Jaiz Bank - the first licensed Islamic bank in Nigeria - is now fully operational.

The financial institution offers interest-free products and has three branches in Abuja, Kaduna and Kano.

It was launched as part of an initiative by the Central Bank of Nigeria to encourage more people to make use of banking services by offering alternative products.

Furthermore, is hoped the move will boost the country's economy and the Abuja branch noted business groups have been among its first customers.

First Islamic bank opens in Nigeria

Jaiz Bank - the first licensed Islamic bank in Nigeria - is now fully operational.

The financial institution offers interest-free products and has three branches in Abuja, Kaduna and Kano.

It was launched as part of an initiative by the Central Bank of Nigeria to encourage more people to make use of banking services by offering alternative products.

Furthermore, is hoped the move will boost the country's economy and the Abuja branch noted business groups have been among its first customers.