Premier Non-Interest Bank in Nigeria, Jaiz Bank Plc, is not relenting in the resolve to expand its business frontiers and the latest deft move is experience-sharing on the rudiments of financing Agribusinesses with a delegation from The Gambia.
Speaking when the Gambian delegation came on a training tour duty, Managing Director of the bank, Hassan Usman said Jaiz is ready to work with them to “share knowledge” on Islamic banking and finance mutually beneficial to both sides.
Usman further informed the trainees that Jaiz Bank has a long-standing relationship with The Gambia, and assured them that going forward such a robust relationship would be sustained for the good of both institutions and by extension, their respective countries.
The Jaiz Bank Chief Executive urged the trainees to focus on agricultural financing, as Africa is not only blessed with fertile lands to invest in but that the sector is the future of the continent.
In his intervention, Jaiz Bank’s Executive Director, Business Development, North, Dr. Salisu Sirajo, advised the trainees to ignore the size of the Gambia but focus on exploring existing market opportunities to be competitive in the sector.
On the introduction of AlHuda Center of Islamic Banking and Economics (CIBE), a Consultant of the Islamic Development Bank (IsDB) Project for Islamic Microfinance in The Gambia called, “Small Ruminant Production Enhancement Project (SRPEP)”, the delegates were taken through different Islamic products and services as well as how to structure financing in accordance with the dictates of Islamic Banking principles.
The SRPEP Programme is being implemented by the Ministry of Agriculture, Government of the Gambia with the knowledge-sharing session covering aspects of the various financing products, particularly Murabaha, Service Ijara, Istisna and Ijara wa Iqtina.
Speaking earlier, Head of the Gambian delegation and Project Coordinator of the Central Projects Coordinating Unit (CPCU), Mr. Abdoulie Touray said they were in Jaiz Bank to strengthen the existing relationship.
He also said the visit would assist the team to further understand the workings and challenges of operating and financing businesses under the Islami Banking principles.
