Nigeria: Islamic Lender Jaiz Bank to Launch Holdings Company

Nigeria’s largest Islamic lender, Jaiz Bank Plc, has announced a decision to launch Holdings Company, the management said. The proposed structure will afford the bank opportunity to penetrate into other related areas like Pension, Asset Management etc.

Fitch Ratings said in a report that Jaiz Bank accounts for 62% of the total banking assets in the non-interest banking segment. Ahmed Idris, spokesperson for Jaiz Bank also confirm the detail to MarketForces Africa following the announcement at the annual general meeting.

The move to diversify portfolios of financial products offering that meet Islamic principles.