Business News Correspondent
Bosun Ayetiwa
Jaiz Bank Plc, Nigeria’s trailblazing non-interest financial institution, has been honoured with the Most Progressive Islamic Bank 2025 Award by the Global Islamic Finance Awards (GIFA).
The recognition was announced on Friday by the GIFA Awards Committee, led by its Chairman, Professor Humayon Dar. According to the committee, Jaiz Bank emerged winner after a rigorous review of nominees and “careful deliberation guided by the GIFA methodology.”
Prof. Dar, while congratulating the institution, described Jaiz Bank as a leading force in advancing Shariah-compliant financial services on the African continent.
Receiving the award on behalf of the bank, Managing Director and Chief Executive Officer, Dr. Haruna Musa, dedicated the accolade to the bank’s board, management, staff, and loyal customers.
“This award is a testament to the collective effort of our entire team and the trust of our stakeholders. It will inspire us to keep innovating, promoting financial inclusion, and strengthening ethical, Shariah-compliant banking in Nigeria and beyond,” Musa said.
The Global Islamic Finance Awards are internationally recognised for celebrating governments, institutions, and individuals who have made outstanding contributions to the growth and sustainability of Islamic finance. Over time, they have become one of the most prestigious recognitions in the industry.
This is not the bank’s first recognition at the GIFA. In 2024, Jaiz Bank was named the Most Promising Islamic Bank, a testament to its consistent growth trajectory.
Founded in 2003 as Jaiz International Plc, the bank began operations in 2012 after securing a regional licence from the Central Bank of Nigeria in 2011. From its modest beginnings with a balance sheet of about ₦12 billion in 2012, Jaiz Bank has grown remarkably, boasting an asset base of over ₦1.08 trillion by the end of 2024.
With this latest award, Jaiz Bank further cements its place as a pioneer and pacesetter in Islamic banking, setting new benchmarks for non-interest finance in Nigeria and across Africa.
