Former Chairman of Jaiz Bank Plc, Alhaji Umaru AbdulMutallab, has said Jail Bank financial products are for all Nigerians, not Muslims alone. He also added that the bank is not about Islamising Nigeria as alleged in the beginning, rather an alternative to conventional banking and financial institutions.
 
Speaking at the surplus distribution ceremony by Jaiz Takaful Insurance Limited, a subsidiary of Jaiz Bank, AbdulMutallab said that attaining the feat of Jaiz Takaful was a long struggle. AbdulMutallab added that more lofty initiatives would soon come on board from the Jaiz family.
 
Jaiz, he said, needs to look for ways to increase profitability and its expansion.
 
According to him, Sukuk was introduced into this country due to Jaiz’s persistence. “Jaiz products are for all Nigerians, not Muslims alone. It is not about Islamising Nigeria as alleged in the beginning, rather an alternative to conventional banking and financial institutions,” he said.
 
Meanwhile, Jaiz Takaful Insurance Limited has disbursed N152m income surplus to its participants.
The Chairman of Jaiz Takaful Insurance Limited, Hajiya Zainab Abdurrahman, described the occasion as “a remarkable milestone in our journey.

“We have come a long way since our inception, and it is a testament to the dedication and trust our participants have bestowed upon us that we can gather here to distribute a surplus of N152m,” she said.
 
Abdurrahman said Jaiz Takaful operates on principles deeply rooted in ethics and community. “It embodies the essence of cooperation and mutual assistance, ensuring that we protect one another in times of need. Our participants place their faith in us, and we must uphold the principles of transparency, fairness, and responsibility.”
 
“The surplus we are distributing today is not just a financial transaction but a symbol of our commitment to our participants and the values that guide us. It signifies our ability to efficiently manage our resources and deliver on the promise of mutual help and support. It underscores the success of our business model and the trust you have placed in us. This surplus distribution of N152m is a reflection of the collective efforts of our participants and the dedication of our team at Takaful Insurance Limited. It is a celebration of our shared values and our unwavering commitment to serving us.”
 
The Chairman/Chief Executive Officer of the National Hajj Commission of Nigeria, (NAHCON), Alhaji Zikrullahi Hassan, who chaired the event, described Jaiz as a leading Takaful firm in Nigeria.
 
NAHCON, he said, is one of the leading lights of Jaiz Takaful. According to him, Jaiz Takaful provides job opportunities and returns proceeds to participants.
 
Hassan urged Nigerians to key into the Jaiz Takaful product as it guarantees economic stability and an avenue for financial inclusion.
 
The Sarkin Zazzau, Suleja, Dr Muhammad Ibrahim, said “Jaiz Takaful was never part of the discussion in the early days of Jaiz establishment, but I’m happy with the expansion.”
 
Ibrahim enjoined the management of the firm to create more awareness among Nigerians and highlight its numerous benefits to economic development.