Jaiz Bank

By Sabiu Abdullahi

Jaiz Bank Plc has been named the Most Progressive Islamic Bank 2025 by the Global Islamic Finance Awards (GIFA), strengthening its position as Nigeria’s pioneer non-interest financial institution.

The award was announced by the GIFA Committee led by Prof. Humayon Dar.

“It gives me immense pleasure to inform you that Jaiz Bank Plc has been chosen to receive the Most Progressive Islamic Bank 2025 Award,” Dar said in his message.

He explained that the selection process involved several outstanding nominees before the committee arrived at a final decision through “careful deliberation based on the GIFA methodology.”

Jaiz Bank’s Managing Director and Chief Executive Officer, Dr Haruna Musa, accepted the award on behalf of the bank.

He dedicated the honour to those who contributed to the institution’s success.

“This achievement reflects the collective dedication of our Board, Management, and Staff, as well as the unwavering trust of our valued customers and stakeholders,” Musa said.

He further described the award as a call to action, saying it would inspire the bank to keep “driving innovation, deepening financial inclusion, and upholding the principles of ethical, Shariah-compliant banking.”

The Global Islamic Finance Awards are widely regarded as one of the top recognitions in the Islamic finance industry, celebrating governments, organisations, and individuals for their impact on the sector.

Jaiz Bank has previously been honoured by GIFA, winning the Most Promising Islamic Bank award in 2024.

Founded in 2003 as Jaiz International Plc, the institution became a full-fledged non-interest bank in January 2012 following a regional licence approval in 2011.

Since then, its balance sheet has expanded significantly, growing from about ₦12bn in 2012 to more than ₦1.08tn by the end of 2024.

By Uzair Adam

Jaiz Bank, Nigeria’s first Non-Interest Bank, has been recognized as the 2024 Global Most Promising Islamic Bank by the Global Islamic Finance Awards (GIFA).

During the Global Islamic Finance Summit and awards ceremony held in the Republic of Maldives, Jaiz Bank outshined two other nominees in the same category to win the prestigious award.

Professor Humayon Dar, Chairman of GIFA, stated that Jaiz Bank was chosen after a thorough evaluation based on multiple criteria set by the GIFA Awards Committee.

The bank was recognized for its exceptional growth potential, innovation, and financial performance, which helped reinforce its leadership in the industry.

Haruna Musa, Managing Director/CEO of Jaiz Bank, expressed his appreciation upon receiving the award.

He noted that the recognition in accordance with the bank’s strategic vision to become one of Africa’s top non-interest financial institutions in the next five years.

He also revealed that Jaiz Bank had previously won GIFA’s Most Improved Islamic Bank Award in 2020 and 2021.

The Global Islamic Finance Awards, known for celebrating excellence and innovation in the Islamic finance sector worldwide, remains one of the most prestigious honors in the industry.