Announcing the approval at a meeting with the President-General of the Nigerian National Supreme Council for Islamic Affairs and Sultan of Sokoto, Alhaji Muhammadu Saad Abubakar IV, in Abuja, on Monday, the Chairman of the Bank, Umaru Mutallab stated that the bank will commence the inauguration of branches in the 36 states of the federation.
Apparently pleased with the development, the Sultan congratulated Jaiz bank for finally securing a national license to operate an Islamic non-interest bank in the country.
He, however, warned that “being an Islamic bank whatever Jaiz bank does must conform with the rules and regulations of Islam. The challenge to Jaiz Bank is that the real problem starts now”.
Photo credit: BusinessDayOnline
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