Weeks after it flung open its doors to customers, Nigerians from all walks of life, including Christians and Muslims have started business transactions with Jaiz International Bank Plc which is the first bank that commenced non-interest commercial banking in the country.
When Peoples Daily visited the banking hall of Jaiz at the Central Business District in Abuja yesterday, customers of diverse background were seen making enquiries about various types of accounts and products operated by the bank.
Our correspondent, who accosted an Igbo business man who said he was in the bank’s branch to open a joint account. Although, he refused to disclose his identity, he said he believes in the concept of profit and risk sharing promoted by non-interest banking.
An officer on the customer relations desk said that the response has been tremendous. She said both Muslims, Christians keep coming to open accounts and make enquiries. However, she wouldn’t want to be quoted, for what she says is because of the bank’s management policy.
An inside source informed Peoples Daily yesterday that a team of inspectors from Central Bank of Nigeria (CBN) is expected at the bank soon for what he said was a follow-up on an initial inspection.
He also disclosed that the services rendered by the bank for now are skeletal, but said the final inspection by CBN, which is being expected any moment from now will define the shape of things to come.
It was also learnt yesterday, that the bank is not yet at the CBN’s clearing house but however, clears its instruments through First Bank as some other banks are doing. When contacted for comment yesterday, the bank’s AGM Corporate Services, Abdu Sa’id declined comment.
Although officials were not willing to disclose on record how many customers have opened accounts with the bank so far, one said “we have registered many customers”.
It would be recalled that Jaiz Bank Plc finally kicked-off operations last week of January 2012, opening operations simultaneously at its headquarters in Abuja and in Kaduna and Kano after over five years of going public to raise fund for capitalisation.
Chairman of the bank, Alhaji Umar Mutallab speaking at the bank’s inaugural Annual General Meeting (AGM) last August said: “The whole idea of this banking option is to bring more people into banking in Nigeria that provides banking without interest.

http://www.peoplesdaily-online.com/business/economy/29750-christians-muslims-besiege-jaiz-bank-for-islamic-banking-transactions

Anything that comes to Nigeria is always different.Many will start changing
religion overnight because they want loan from this bank.What is CAN
doing?Remember Solomon the wisest man said its the little foxes that spoils the vine
Song of Solomon 2:15 Catch for us the foxes, the little foxes that ruin the vineyards,
our vineyards that are in bloom

hmmmmmmmmmmmm

As far as I'm concern though I'm a Christian 4rm the south western part of the country but I'm full support of the concept of islamic banking this will truelly alleviate the rate of abject poverty in nigeria so my dear brothers and sisters in christ this is a big challenge to us let's us borrow a leaf 4rm this latest development.

Their own mode of operation is better described as joint business instead of non interest banking as people believe. Profit and loss are shared according to percentage agrweemet as the need arise.

If they give me loan I will take.

T