Jaiz Bank

Jaiz Bank Plc is Nigeria’s pioneer non-interest bank and the first institution to receive a national non-interest banking licence from the Central Bank of Nigeria in 2011, beginning operations in 2012. Headquartered in Abuja, the bank was established to serve customers seeking Sharia-compliant financial services and to provide an alternative to conventional interest-based banking.

Built around Islamic finance principles, Jaiz Bank offers products structured to avoid interest and speculation, using contracts such as Murabaha for asset financing, Mudarabah for profit-sharing investment accounts, and Ijarah for lease-based financing. The bank also states that its products and services are reviewed by an Advisory Committee of Shariah Experts to help ensure ongoing compliance with Islamic principles.

From its early branches in Abuja, Kaduna, and Kano, Jaiz Bank has expanded its presence into major commercial centres and developed a customer base that includes individuals, businesses, and public-sector clients. Its growth reflects both demand from Muslim customers seeking faith-aligned banking and broader interest in ethical, asset-backed financial services.

Jaiz Bank’s entry into the market helped demonstrate that non-interest banking could operate commercially in Nigeria and laid important groundwork for the sector’s later development. Today, the bank continues to position itself as an ethical finance provider committed to financial inclusion, product innovation, and service to customers across religious and commercial segments.