NON-INTEREST FINANCE

Ethical finance based on the core principles of fairness and social justice.

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Non-interest finance is a form of finance that incorporates ethical principles and prohibits the receiving and charging of interest

01 October 2015 Jaiz Bank gets national licence

By Isaac Anumihe (The Sun)

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CENTRAL Bank of Nigeria (CBN) has granted a na­tional licence to Jaiz Bank and a waiver on the reduc­tion of its liquidity ratio from 30 per cent to 10 per cent. The licence will enable Jaiz Bank operate in any part of the country.

Speaking during a courtesy call by the Managing Director of Jaiz Bank Plc, Mr. Muhammad Nurul Is­lam, and other top management staff of the bank in Abuja, Managing Director and Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Al­haji Umaru Ibrahim, said the reduction of its liquidity ratio from 30 per cent to 10 per cent will create a level-playing field as well as engender healthy com­petition.

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