Jaiz Bank Plc, Nigeria’s first non-interest financial institution, has been named the Most Progressive Islamic Bank 2025 by the Global Islamic Finance Awards (GIFA), a recognition that comes on the back of the bank’s steady expansion in assets and operations over the past decade.
The award was announced by the GIFA Awards Committee and its Chairman, Professor Humayon Dar, who said the selection followed a review of several institutions worldwide.
“It gives me immense pleasure to inform you that Jaiz Bank Plc has been chosen to receive the Most Progressive Islamic Bank 2025 Award,” Dar stated.
The bank’s Managing Director and Chief Executive Officer, Dr. Haruna Musa, received the award on behalf of the institution and attributed the recognition to the combined efforts of its board, management, staff, and customers.
“This achievement reflects the collective dedication of our Board, Management, and Staff, as well as the unwavering trust of our valued customers and stakeholders,” Musa said.
He added that the award would encourage Jaiz Bank to strengthen its role in Nigeria’s financial system.
“We remain committed to driving innovation, deepening financial inclusion, and upholding the principles of ethical, Shariah-compliant banking. This award is not only a recognition of our progress but also a motivation to continue setting new standards in Islamic finance, both in Nigeria and globally,” Musa said.
Founded in 2003 as Jaiz International Plc, the bank commenced operations in January 2012 after obtaining a regional licence from the Central Bank of Nigeria. Since then, it has expanded its branch network nationwide and recorded significant balance sheet growth, from about ₦12 billion in 2012 to more than ₦1.08 trillion by the end of 2024.
The Global Islamic Finance Awards, established to honour contributions to Islamic banking and finance, are considered a benchmark for recognising governments, institutions, and individuals advancing the industry.
In 2024, Jaiz Bank was named the Most Promising Islamic Bank by the same platform.
