Halal
Jaiz Bank passes both the business-activity screen and the financial screens under the AAOIFI Standard. No dividend purification applies.
NGX: JAIZBANK · Financial services / Islamic banking · Screened 3 Sept 2026
Jaiz Bank Plc is Nigeria's first non-interest bank, offering Shariah-compliant banking to individuals, corporates and government entities since 2012. It commenced operations on 6 January 2012 after securing a regional banking licence in 2011. The bank operates six strategic business units covering Corporate, Commercial, Retail, Private, SME and Public Sector banking, serving customers from blue-chip companies to micro-entrepreneurs. Its financing is structured through Islamic contracts rather than interest-bearing lending, including Ijarah leasing, Murabaha cost-plus financing, Musharaka partnership, Istisna'a manufacturing finance and Wakala agency arrangements. The bank operates 51 branches.
As at 31 December 2024 total assets rose 86% to N1.08 trillion, gross earnings rose 75% to N82.87 billion and profit before tax more than doubled to N24.44 billion. Customer deposits surged 94% to N904.79 billion, reflecting strong public confidence in the non-interest banking model. Investment income jumped 72% to N44.37 billion, while income from financing contracts rose to N32.04 billion. The bank completed a N10.05 billion private placement in 2024, raising shareholders' funds to N28.7 billion, above the CBN's revised minimum for national banks. Capital adequacy ratio strengthened to 23.87%, liquidity ratio improved to 47.35%, return on equity climbed to 34.21% from 28.12%, and cost-to-income ratio improved to 60.42% from 65.26%. The bank declared a dividend of N3.2 billion (7 kobo per share) for FY2024, a 75% increase from 4 kobo in 2023. It was named Most Progressive Islamic Bank 2025 by the Global Islamic Finance Awards.
Six business units: Corporate, Commercial, Retail, Private, SME and Public Sector, with income generated through Islamic financing contracts rather than interest.
Yes. As of 3 September 2026, Jaiz Bank (JAIZBANK) is halal to own under the AAOIFI Standard, with no purification required.
Qistal re-screens every NGX ticker when new audited or interim accounts are filed. This page always shows the date of the most recent screen.
Yes. Compliance drifts as a company borrows, raises cash, or changes its business mix, so a verdict describes a moment rather than a permanent status.