Jaiz Bank is the first financial institution in Nigeria to operate non-interest finances, also known as Islamic Banking.
The first thing that comes to mind when you hear of Islamic Banking is: solely meant for Muslims, but NO!
Islamic Banking, which is also known as Non-Interest Banking is a profitable growing global phenomenon practiced in nearly 70 countries across the world.
Some of the countries where Islamic Banking operates include: United Kingdom, Canada, United States of America, United Arab Emirate, Malaysia, China, Singapore, South Africa, Kenya etc.
Jaiz Bank, established in 2003 has 11 members in its Board of directors. These board members are the best any bank can boast of, considering their brilliant financial experiences around the world.
Jaiz Bank indisputably has one of the most POWERFUL board of directors on the African continent.
11 Board of Directors of Jaiz Bank are:
- Alhaji (Dr.) Umaru Abdul Mutallab, (CON)-Chairman
- Aminu Alhassan Dantata, (CON)-member
- Professor Tajudeen Adebiyi-member
- Alhaji (Dr.)Muhammed Indimi, OFR-Member
- Mallam Falalu Bello, OFR-Member
- Nafiu Baba-Ahmed, mni-Member
- Muhammed Ali Chatti-Member
- HRH (ENR.) Bello Muhammed Sani, OON-Member
- Alhaji Musbahu Muhammad Bashir-Member
- Alhaji Umaru Kwairanga-Member
- Alhaji Mukthar Sani Hanga-Member
Alhaji Umaru Abdul Mutallab-Chairman
Prominent business leader and former Minister of the Federal Republic of Nigeria, Chartered Accountant and Banker; former Executive Vice Chairman and Managing Director of United Bank for Africa (UBA) – the third largest bank in Nigeria and an affiliate of BNP Paribas.
Also former Chairman of First Bank of Nigeria Plc, the oldest and biggest bank in Nigeria.
He is a holder of one of the highest National Awards in Nigeria – Commander of the Order of the Niger (CON). Abdul Mutallab has also been conferred with the Fellowship of both the Association of Chartered Certified Accountants (ACCA) of UK and the Institute of International Bankers Association (FIBA) of the United States of America.
Dr. Aminu Alhassan Dantata-member
A renowned business man, he began his career as produce buyer in 1949 in the family business of Alhassan Dantata and Sons Limited.
He became the Chairman and Managing Director of the Company, in 1960, a position he holds till date.
Dr. Dantata was a member of the Steering Committee of the Nigerian Industrial Development Bank (now Bank of Industry, BOI), and served as a Director of the Bank between 1962 and 1966. He has led several trade missions to several countries across the world.
Professor Tajudeen Adebiyi-member
He was between 2003 and 2005, the Treasurer and Investment Consultant to OPEC Fund (Vienna, Austria), where he managed an approximately US $5 billion investment portfolio. He is a holder of an MBA (Finance, Accounting and Quantitative Analysis) and, a Ph.D. in Banking & Finance from the University of Maryland, USA.
Prof. Adebiyi spent 20 years (1983-2003) at the Islamic Development Bank, Jeddah, serving at different levels in Project Management, Treasury, Financial Analysis and Portfolio Management.
He is a visiting Professor of Portfolio Investment Management and Quantitative Analysis to the Bowie State University, Maryland, USA.
Alhaji Muhammed Indimi-Member
He is a distinguished and highly successful businessman. Dr. Indimi is the sole Founder and Chairman of Oriental Energy Resources, Limited.
He has over 20 years’ experience in the Nigerian Upstream Oil and Gas sector. Dr. Indimi is an astute business man with a notable presence in the international business arena.
He also serves as the Chairman of M & W Pump Nigeria Limited; which has partnered with MWI Corp of Deerfield Beach, Florida. He is a founder of many successful indigenous companies and sits on the board of several privately owned companies encompassing all sectors of the economy.
Dr. Indimi is a humanitarian and a philanthropist and has received numerous awards as well as honorary doctorate degrees from notable Universities in Nigeria, Ireland and the United States.
Mallam Falalu Bello-Member
A 1978 Law graduate from Ahmadu Bello University, Zaria. Nigeria. He started his Legal career with the Kaduna State Government as Magistrate II and subsequently moved to Northern Nigeria Investment Company Limited as Senior Executive/Acting Company Secretary.
He was later appointed Kaduna State Government Commissioner for Trade and Industry. He was appointed Managing Director/CEO of Habib Nigeria Bank Limited in 1994 until 1998 when he was appointed Managing Director/CEO of Intercity Bank Plc.
He resigned as Vice Chairman/Managing Director in 2001. In 2001, he was appointed Managing Director of Nigerian Agricultural Development Bank Limited.
Mallam Bello holds the National honour of the Officer of the Federal Republic (OFR). He was once the Managing Director/CEO
He is a 1978 Law graduate from Ahmadu Bello University, Zaria, Nigeria.
He started his banking career as a Legal Officer with United Bank for Africa Plc in 1980 from where he proceeded to Nigeria Merchant Bank in 1982. He was an Assistant General Manager/Company Secretary & Legal Adviser with First Interstate Merchant Bank Limited and subsequently, became a Director/Legal Adviser & Board Secretary at Nigerian Deposit Insurance Corporation (NDIC).
He was also, a Director representing CBN/NDIC on several banks that were taken by both the Central Bank of Nigeria/NDIC for turnaround. He has attended several professional courses abroad including those of Queens Mary College, University of London, in International Commercial Law, Institute of Management Development (IMD), Switzerland, as well as Senior Executive Development Program in Kuala Lumpur, Malaysia.
Dr. Muhammed Ali Chatti-Member
He is a representative of the Islamic Development Bank.
He is an Investment Specialist and currently works in the Investment Department of IDB. Between 2010 and 2012, he was in the Young Professional Programme of IDB. He also led a team of 15 – 20 on the French Council of Islamic Finance as Chief of the Research and Translation to translate the AAOIFI standards and the CIBAFI modules.
A Ph.d holder in Management Sciences, Dr. Chatti attended many seminars and presented different papers on Islamic Finance.
He has also contributed to some published books on Islamic Finance. He is fluent in Arabic, French and English Languages.
HRH Bello Muhammed Sani-Member
HRH, Emir of Bakura, Engr. Bello Muhammad Sani, OON, is a holder of Bachelor’s Degree in Engineering from the prestigious Ahmadu Bello University, Zaria, Nigeria.
He is also a holder of M.Sc (Civil Engineering) from the University of Dundee Scotland – 1977. HRH is a fellow of Nigerian Society of Engineers (FNSE), Council for the Regulation of Engineers in Nigeria (COREN) and an Officer of the Order of the Niger (OON) conferred upon him by the former President Olusegun Obasanjo on the 10th of December 2003 in recognition of his achievement. He is currently the Emir of Bakura, Zamfara State, Nigeria.
Prior to becoming the Emir, HRH held several notable positions such as;
- Public Engineer in the defunct North Western State Ministry of Works, Transport and Housing, Sokoto in 1974 – 1975,
- Principal Engineer of Ministry of Works and Transport Sokoto in 1979-1980
- Acting Permanent Secretary of Ministry of Works and Housing, Sokoto in 1981.
- Chief Civil Engineer and the Chief Building Engineer in 1981-1983 Ministry of Works and Transport Sokoto.
He has held several notable positions in some of the most prestigious corporate, private and public organizations in Nigeria, including Director, Building and Engineering Services, Central Bank of Nigeria (CBN) between 1989 -1996, Senior Assistant General Manager, Union Bank of Nigeria (formerly Barclays Bank).
Alhaji Musbahu Muhammad Bashir-Member
He is s the Chairman of Althani Group of Companies, and Cobalt International Services Limited since 2004.
He is also a Director in the following companies, Bento Drill Nigeria Limited 1995, Offshore Technologies International Limited 1995, and Resource Capital Group 1995. Cobalt International Services Limited is a pre-shipment Inspection Agent for dry goods and bulk liquid cargos.
They are currently inspection agents for oil and gas exports in the country. Alhaji Bashir also worked with Hammad Development Facilities in 1987 and Jadai Diversified Services in 1989.
Alhaji Umaru Kwairanga-Member
Umaru Kwairanga (Sarkin Fulanin Gombe) holds a B.Sc (Hons) in Business Administration; MBA from the University of Maiduguri and M.Sc Finance & Governance from Liverpool John Moores University U.K (LTMU) Liverpool United Kingdom.
He is a fellow of the Institute of Directors (IoD), Certified Pension Institute of Nigeria (CPIN) and Chartered Institute of Stockbrokers of Nigeria.
He is a well-traveled executive with vast knowledge of corporate governance practices with over 20 years cognate experience in Banking, Corporate Finance, as well as an active player in the Capital Market. He is on the Board of:-
- Jaiz Bank Plc.,
- Lafarge Cement Africa Plc.,
- Axa Mansard Pensions,
- Finmal Finance Services Ltd (MD/CEO),
- Waila Microfinance Bank Ltd.,
- Gombe Microfinance Bank Ltd.,
- First Bank of Nigeria Mortgage Bank Ltd.,
- Kano Electricity Distribution Company (KEDCO).
He is on the council of:-
- Nigerian Stock Exchange,
- Certified Pension Institute of Nigeria (President),
- Chartered Institute of Stockbrokers,
- Former Chairman of Ashaka cement Plc,
- Former Director in Central Securities Clearing System Plc.
Alhaji Kwairanga has attended several courses and training programs in fields relating to Finance, Investment and Money Market in reputable institutions including the Harvard Business School, New York, Institute of Finance and Euro Money.
He is a Professional Certificate holder of the Chartered Institute of Stockbrokers, Certified Pension Institute of Nigeria and the Abuja Securities and Commodity Exchange.
He has been Managing Director of a top notch stockbroking firms for over a decade and a Director in several blue-chip organizations.
He was a member of the Nigerian Vision 20:2020, National Technical Working Group (NTWG) on Public sector Thematic Area.
He is a well-travelled executive with extensive senior level management experience and impeccable ethics and integrity.
He was recently conferred with an Honorary Doctorate Degree by Igbinedion University, Okada, Edo State, Nigeria.
Alhaji Mukthar Sani Hanga-Member
He is a renowned business man and an administrator. He was one time Managing Director of Hanga Line Limited, Special Adviser to Governor Kabiru Gaya of Kano State on Sport and Youth Development, Member Board of Directors NISER Ibadan, Chairman NYSC Committee, Kano, Chairman Kano State Export Actualization Committee and Director, Northern Nigeria Investment Limited, Kaduna.