Jaiz Bank Plc has resumed selling of foreign exchange to Small and Middle Enterprises (SMEs), in its efforts to cushion their challenges amplified by the rampaging COVID-19 pandemic and ultimately boost the economy.
The nation’s premier non-interest bank announced this in a statement, adding that the foreign exchange was also available to parents to pay their children’s school fees and medical bills.
According to the bank, SMEs importers can get up to $20,000 per quarter. It however noted that items of importation must not fall under those prohibited, as directed by the Central Bank of Nigeria (CBN).
The bank stated;
“While the pandemic is being fought with lockdown and economies are opening up, we are committed to providing services that would encourage small and medium sized businesses because we strongly believe they are the fulcrum for economic growth and development.”.
About Jaiz Bank
Jaiz Bank Plc – the premier Non-Interest Bank in Nigeria was established on the 11 th of November 2011 on the foundation of trust, professionalism and excellence to deliver innovative financial solutions and exceptional customer experience. This started with a Regional License obtained from the Central Bank of Nigeria to operate in the Northern part of the country and its transformation to a National Bank on the 12 th of May 2016 with key presence in all the geopolitical zones of the country.
The Bank’s core value are built on 7 principles with the acronym RESPECT; Responsibility, Entrepreneurship, Simplicity, Excellence, Customer Focus and Trust. These core values are the guiding forces that empowers the Bank to project towards its vision to be the clear leader in ethical Banking in Sub-Saharan Africa.
Jaiz Bank is a quoted public company trading on the floor of the Nigerian Stock Exchange (NSE) with a balance sheet size of N152billion (as at September 31 st 2019) from N12 billion in 2012. Financing assets also grew from over N30 billion in 2012 to N138.84 billion (as at September 31 st 2019). As at the end of 3 rd quarters, Jaiz Bank made a Profit After Tax of N1.25billion. Other critical parameters such as customer deposits, branch network and profitability have all been growing year – on – year since inception.