By Tony Obiechina Abuja
Jaiz Bank says in the next three years it plans to raise its capital base to N200 billion, but targets to increase it to N100bn in the next one year, and N150 billion in the middle term.
The pioneer non-interest bank says it has met and even surpassed the new minimum recapitalization requirement of N20bn for national non interest banks as set by the Cenntral Bank of Nigeria.
The Managing Director/CEO of the Bank, Haruna Musa disclosed this at a press briefing on Tuesday in Abuja at the unveiling of the Bank’s new corporate identity of their new logo, payoff line, and vibrant colour palette.
Musa said the rebranding reflects their deliberate effort to refresh their identity, modernise their platforms, and reaffirm their commitment to ethical, inclusive, and customer-focused banking.
He pointed out ‘ while our outward expression is evolving, our foundation remains unchanged: the values and Shariah-compliant principles that have always defined us.’
‘We are retiring the familiar green and gold that have served us well and embracing a dynamic new palette:• Deep Blue – symbolising trust, stability, and our reliability as Nigeria’s foremost ethical bank.• Yellow – representing energy, optimism, and our customer-first spirit of innovation.• Grey – conveying sophistication, balance, and our ability to evolve while holding true to timeless principles.’
Musa stressed that ‘This transformation speaks to a deeper shift in banking—one where customers demand transparency, fairness, and social impact,’ adding ‘With our refreshed identity, our focus is clear: to deliver accessible, ethical banking that celebrates Nigeria’s rich cultural and religious diversity.’
According to him. ‘Our new payoff line, “With You for Life,” reflects our promise to stand with our customers through every stage of their journey—today, tomorrow, and for generations to come.’
He revealed that on September 1, 2025 the bank and Mastercard International will relaunch the Jaiz Bank Mastercard for Nigerian travelers to transact businesses abroad, just as they plan to introduce the Visa Card very soon and also working on the numbering system of VAM card.
The Managing Director noted that the scarcity of foreign exchange in 2023 forced many banks to suspend the use of MasterCard abroad, but however pointed out that some reforms by the current government have stabilized the forex market. things are truly getting better.
’It is the reason why so many banks are now re-lunching the use of their card abroad, including direct banks. So we appreciate your patience, and we would like to reassure you that by September, the price will transform and then it will be launched in America. And we reach out to all our customers and make sure that they get their cards abroad as soon as possible, he stated.
Musa pointed out ‘Once that is done, your card is automatically connected to your home account, and you can easily use your card for your transaction to your home account. Secondly, on alternative chapters, including the app, we would also like to assure you that, our branding is not just cosmetics. It is about presenting our operations completely.’’
We want to enhance our operational efficiency. We are going to see a brand new app sometime soon with all the features, including WhatsApp banking. WhatsApp banking is something that is still fairly new in this country.’
He pointed out that the future plan of the bank is to be one of the biggest and most efficient banks in Africa, stressing ‘our mission is beyond Nigeria. So if our mission is to be the top in Africa, then obviously we have regional expansion plan. But as we all know, when CBN came up with the new minimum capital requirements, for the different categories of banks, they did not come up with the capital requirements for the international specialized banks or non-interest banks. But we are still in engagement with CBN.
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‘Musa also revealed that after capitalization the next next would be to agree with the regulators how much is sufficient for their own category of banks to work internationally.
He disclosed that the bank has received invitations from Central Banks of Ghana and Sierra Leone on the plans to go international, stressing ‘let me assure our stakeholders that any time soon, we will see direct banks coming up across different areas in Africa. ‘
The managing director highlighted some of the banks achievements globally in the last 14 years of operation to include: The Quality Choice Prize 2025 (Award for ethics and quality management)• Most Promising Islamic Bank 2024 (Global Islamic Finance awards)• The Strongest Islamic Retail Bank in Nigeria 2024 (Cambridge IFA)• Dual recognition of Best Islamic Bank in West Africa by International Investor magazine and Best Islamic Bank in Nigeria 2024 (Capital Finance International)• Best in MSME Non-interest Banking 2024 – Nairametrics MSME finance awards• Ranked 12th among the Top 100 Strongest Islamic Banks Globally (The Asian Banker), ahead of institutions such as IBBL Bangladesh and HSBC Amanah Malaysia.
He noted that these awards are not just accolades; they are affirmations of the trust their customers and stakeholders have placed on the bank.
