Jaiz Bank plc is set to open a branch in Ibadan, a southwestern Nigerian city. The bank is aware of the difficulties it'll face but is upbeat about its chances.


The South-West zonal committee for the operation of Jaiz Bank Plc said the bank would begin operation in Ibadan and other cities in the South-West towards the end of the year after all documents and other logistics would have been perfected.

The revelation was made in Ibadan during the first shareholders’ forum of the bank organised by the committee as part of the sensitisation effort towards the successful establishment of the bank in the South-West region.

The Chairman of the committee, Lasun Sanusi (SAN), said the bank was aware of the teething problems it would face, expressing the optimism, however, that it would survive because of the success it recorded in areas where it was already operating in the country.

The Group Head, Public Sector, Jaiz Bank, Mallam Ismail Adamu, explained that the bank offered non-interest banking services to the public and that it began operation in the North-East and North-West regions on June 1, 2012 after obtaining licence in November 2011.

Source?

I never read this News since morning wey i don comment

Is it a solution to our economic problems, sorry to say, a particular religion is d problem of dis country.
Una never practice conventional banking finish, una dhe open arabic banking.
Dis zoo is a joke

*Imposicant*

OREMUSSANCTUS:
Is it a solution to our economic problems, sorry to say, a particular religion is d problem of dis country.
Una never practice conventional banking finish, una dhe open arabic banking.
Dis zoo is a joke

You always rush to comment on front page, yet never have anything useful or intelligent to say. First of all, are you a businessman?
What's the difference between conventional banking and Islamic banking? What are the advantages of Islamic banking over conventional banking?
How is Islam a problem in this country? You call Nigeria a zoo, what does that make you? When did Nigeria become a zoo? After your principal GEJ lost elections?

Take advantage of the luxury of the internet you enjoy in this modern world to train and develop yourself, rather than spreading hate and ignorance just to gain likes and mentions. Fucking idiot.

comment later

musKeeto:


You always rush to comment on front page, and rarely have anything useful or intelligent to say.
What's the difference between conventional banking and Islamic banking? What are the advantages? Are you a businessman?
How is Islam a problem in this country?

Use the internet to train and develop yourself and cure yourself of ignorance. Fucking idiot.

Pls read ma post well, I never said islam is d problem. I only said a particular religion.
Its too early for all dis, good morning ma lil bro

musKeeto:


You always rush to comment on front page, yet have anything useful or intelligent to say.
What's the difference between conventional banking and Islamic banking? What are the advantages? Are you a businessman?
How is Islam a problem in this country?

Use the internet to train and develop yourself, rather than spreading hate and ignorance just to gain likes and mentions. Fucking idiot.

sucker punch.

OREMUSSANCTUS:

Pls read ma post well, I never said islam is d problem. I only said a particular religion.
Its too early for all dis, good morning ma lil bro

You didn't mention the religion, but we all know what was implied. Are Islamic banks Christian or ATR?

musKeeto:

You didn't mention the religion, but we all know what was implied. Are Islamic banks Christian or ATR?

I never mentioned any religion. Good day

OREMUSSANCTUS:

I never mentioned any religion. Good day

Good day to you Sir.

nice,interest free loan would be very beneficial to the small and medium enterprises and other entrepreneurship businesses

Jaiz bank can open their branches anywhere if it will help to reduce poverty in the country.



Only fools will belive Islamic loans are interest free

shachris02:


sucker punch.

U must be high on cheap drugs

You know what? Hopefully, this is the only thing they will adopt from their northern muslim brothers. I am not surprise as to why Oyo state looked so backward the last time we passed through... .

I don't know why Muslims deceive themselves with sharia banking which is almost impractical economically speaking (hello dubai ). As I understand "Islamic" banking products, they operate in the same way as other financial products - banks borrowing money at interest on the markets, providing debt finance to businesses and individuals but calling the interest something else.

Other approaches are for the bank to buy the asset (car, house) and for the borrower to buy the asset from the bank in installments, paying more than the bank paid for it originally, reflecting the time value of money - AKA interest by any other name.

The resulting high costs mean Muslims still prefer standard borrowing plans in the UK and most countries. Even nominally Islamic states like Saudi Arabia make sure to invest their funds in non-sharia products and companies.

I think the word here is "gullibility." Rather like "halal" meat that has actually been stunned, you will find someone to label your product halal. One of the leading clerics, Muhammad Taqi Usmani estimated that 85% of sukuk (sharia-compliant bonds) actually weren't.
http://en.wikipedia.org/wiki/Sukuk#Controversy

Nigerians are simply gullible and incredibly stupidd

musKeeto:


You always rush to comment on front page, yet never have anything useful or intelligent to say. First of all, are you a businessman?
What's the difference between conventional banking and Islamic banking? What are the advantages of Islamic banking over conventional banking?
How is Islam a problem in this country? You call Nigeria a zoo, what does that make you? When did Nigeria become a zoo? After your principal GEJ lost elections?

Take advantage of the luxury of the internet you enjoy in this modern world to train and develop yourself, rather than spreading hate and ignorance just to gain likes and mentions. Fucking idiot.

if the bank gives him an interest free lone, will he reject it.

musKeeto:

You didn't mention the religion, but we all know what was implied. Are Islamic banks Christian or ATR?

The funny thing about these religious bigots is that they always betray they foolishness when they speak. They don't even realise their Hero did patronise such banks because of their favourable conditions. In 2012, their hero secured a $600million facility from the IDB to fund projects, www.thisdaylive.com/articles/fg-to-borrow-600m-from-islamic-development-bank/108986/ but their bigoted minds would hardly allow them look past their noses.

Smh.

omenka:
The funny thing about these religious bigots is that they always betray they foolishness when they speak. They don't even realise their Hero did patronise such banks because of their favourable conditions. In 2012, their hero secured a $600million facility from the IDB to fund projects, www.thisdaylive.com/articles/fg-to-borrow-600m-from-islamic-development-bank/108986/ but their bigoted minds would hardly allow them look past their noses.

Smh.

Remember this: http://www.thisdaylive.com/articles/igbos-lead-in-consumption-of-islamic-insurance-products/144495/

phyllosilicate:
if the bank gives him an interest free lone, will he reject it.

Which bank will give that m0ron an interest-free loan? To dash am money sef suppose be sin. FUcking illiterates that should be in school or taking free courses on coursera/edx to improve their diction and reasoning skills.

phyllosilicate:
if the bank gives him an interest free lone, will he reject it.

It is not an interest free loan as much as you would like to think. Go and do your research. Islamic Banking or Shariah Finance as it is usually referred to, is the biggest scam ever to have been perpetrated on the naive Muslim public.

Instead of paying market-related rates of interest on borrowings as they normally would at the regular banks, Muslims are instead charged extortionate rates of interest and this is now dishonestly called profit.

The moolas who sit on these Shariah Boards are the biggest beneficiaries of this rip-off of the Muslim communities. How sad to see piety betrayed by greed. How very un-Islamic! Oyo state people needs to be educated and really fast before they get even more stupidd. I was reading up on Oyo empire the other day, about how rich and successful it was. What a shame.

Africans are too stupidd. Why do we act inferior to every other race? Why do we need to adopt stupidd Arabian culture ffs? They are trying to free themselves from that backward culture while africans still continues to wallow in unending pit of stupidity. Saudi Arabia's Wahabists are tearing down buildings that have links to the Prophet and replacing them with skyscrapers and shopping malls, yet africans cannot reason beyond their nose.

I hate nairalands sometimes. Too many stupiddity.

Flyoruboy1:


Remember this: http://www.thisdaylive.com/articles/igbos-lead-in-consumption-of-islamic-insurance-products/144495/

They are just irritating. Witty Igbo businessmen don't care a hoot who's selling what or granting which loan, as long as it legitimate and can strengthen and grow their business.

These guys on nairaland are simply ignorant fools.

moufan:
nice,interest free loan would be very beneficial to the small and medium enterprises and other entrepreneurship businesses

It is not. Get that into your head. Go and read up on islamic banking.

They've come again, so people think islamic banking is the solution to their load problem? Take a look from were dey operate from (north-east) the same area were we have the highest boko attack so does it mean these loads are for evil purposes? This is just another means to move money around for easy delivery. Make una open una eye oo

Dollyak:

It is not. Get that into your head. Go and read up on islamic banking.

pls just fuuuck off my mention, i hav the right to xpress myself

omenka:
The funny thing about these religious bigots is that they always betray they foolishness when they speak. They don't even realise their Hero did patronise such banks because of their favourable conditions. In 2012, their hero secured a $600million facility from the IDB to fund projects, www.thisdaylive.com/articles/fg-to-borrow-600m-from-islamic-development-bank/108986/ but their bigoted minds would hardly allow them look past their noses.

Smh.

And you think this is a good thing for us to borrow money from islamic banks?

moufan:
pls just fuuuck off my mention, i hav the right to xpress myself

I also have the right to call out your stupiddity.. Intelligent Muslims don't even do the shiit you lots do. Go and get some education or something.

Dollyak:
You know what? Hopefully, this is the only thing they will adopt from their northern muslim brothers. I am not surprise as to why Oyo state looked so backward the last time we passed through... .

I don't know why Muslims deceive themselves with sharia banking which is almost impractical economically speaking (hello dubai ). As I understand "Islamic" banking products, they operate in the same way as other financial products - banks borrowing money at interest on the markets, providing debt finance to businesses and individuals but calling the interest something else.

Other approaches are for the bank to buy the asset (car, house) and for the borrower to buy the asset from the bank in installments, paying more than the bank paid for it originally, reflecting the time value of money - AKA interest by any other name.

The resulting high costs mean Muslims still prefer standard borrowing plans in the UK and most countries. Even nominally Islamic states like Saudi Arabia make sure to invest their funds in non-sharia products and companies.

I think the word here is "gullibility." Rather like "halal" meat that has actually been stunned, you will find someone to label your product halal. One of the leading clerics, Muhammad Taqi Usmani estimated that 85% of sukuk (sharia-compliant bonds) actually weren't.
http://en.wikipedia.org/wiki/Sukuk#Controversy

Nigerians are simply gullible and incredibly stupidd

I bet Jonathan and most Igbos are "simply gullible and incredibly stupidd" then.

www.thisdaylive.com/articles/fg-to-borrow-600m-from-islamic-development-bank/108986/

www.thisdaylive.com/articles/igbos-lead-in-consumption-of-islamic-insurance-products/144495/

Cure yourself of bigotry and wanton hatred. It does you no good.


You look beautiful by the way.

Dollyak:
Africans are too stupidd

I'm sure that also includes you, your parents and all relatives who are also Africans.

Dollyak:
. Why do we act inferior to every other race? Why do we need to adopt stupidd Arabian culture ffs?

Across all spectrum of life, taking the benefits of an existing model( democracy, education, science) and tweaking it till it works in a particular system isn't a symptom of inferior complex. Western nations like the UK have also adopted Islamic Banking

http://www.huffingtonpost.co.uk/2014/06/25/islamic-banking-bonds-sharia-uk_n_5521566.html

This is all part of the coalition's mission, as Prime Minister David Cameron revealed last year, to make London the "capital for Islamic finance", after launching an Islamic index on the London Stock Exchange.
"I want London to stand alongside Dubai as one of the great capitals of Islamic finance anywhere in the world," he added.
Islamic finance is open to everyone, not just Muslims. The Islamic Bank of Britain enjoyed a 55% increase in applications for its savings accounts by non-Muslims in recent years.

The rest of your post is as ignorant as Oremus' earlier post. And stop asking others to read. Go and read.

Dollyak:

I also have the right to call out your stupiddity.. Intelligent Muslims don't even do the shiit you lots do. Go and get some education or something.

kkkkkk, just fucckk off pls

omenka:
I bet Jonathan and most Igbos are "simply gullible and incredibly stupidd" then.

www.thisdaylive.com/articles/fg-to-borrow-600m-from-islamic-development-bank/108986/

www.thisdaylive.com/articles/igbos-lead-in-consumption-of-islamic-insurance-products/144495/

Cure yourself of bigotry and wanton hatred. It does you no good.


You look beautiful by the way.

Did you even read the article? Do you know the terms and condition? The fundamentals of sharia banking still remains, so why don't you lecture me on the advantage. This is why some of you guys piss me off sometimes with soo much stupidityy. Why have a presumption based on opinion? Geez you lots are insufferable.