Tagged: This Day Live

Jaiz Bank Commences Forex Transactions

Jaiz Bank Commences Forex Transactions

Jaiz Bank Plc has joined other commercial banks in processing of foreign exchange transactions. This allows the bank to process forex transactions for eligible bureau de change (BDC) operators at the Central Bank of Nigeria (CBN). The bank will reporte…

Osun Plans to Issue $10 Billion Sukuk Bond

Osun Plans to Issue $10 Billion Sukuk Bond

<p>Barring any unforeseen circumstance, Osun State will issue Nigeria's first Sukuk bond of N10 billion before the end of July. The planned 7-year paper would be part of a N60 billion debt raising programme of the state which started last year. The Osun bond will be issued through a book-building process which will earn a return for sukuk holders via a semi-annually paid rent structure called the Ijara. The government is targeting local pension funds and international investors on the bond. Local credit rating agency Agusto &amp; Co has assigned an A rating to the note, which will be listed on the Nigerian Stock Exchange. Osun is waiting for the Securities and Exchange Commission&rsquo;s (SEC&rsquo;s) approval to start marketing the bond. The funds will be used to finance the construction of education projects.</p>
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<p><a href="http://www.thisdaylive.com/articles/osun-plans-to-issue-10-billion-sukuk-bond/151656/" title="http://www.thisdaylive.com/articles/osun-plans-to-issue-10-billion-sukuk-bond/151656/">http://www.thisdaylive.com/articles/osun-plans-to-issue-10-billion-sukuk…</a></p>
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Jaiz Bank Resumes Operations in Gombe

Jaiz Bank Resumes Operations in Gombe

Jaiz Bank Plc has commenced operations in Gombe State, is now located in four states in Nigeria. In the next four years, the bank plans to be in all the 36 states of the federation. Chairman of the Board of Directors of the Bank, Alhaji Umru Mutallab emphasized the bank’s desire to make positive contributions in the society as well as to provide access to innovative channels of financing as alternatives to interest-based systems. He assured that the bank was opened to all irrespective of race or religion.

Nigerian Stock Exchange – Steps forward

Nigerian Stock Exchange – Steps forward

The Nigerian Stock Exchange (NSE) has been a witness of several stimulating initiatives in 2012 which were designed to to encourage growth in capital market activities and give the market depth. An example: Early in 2013, The NSE Lotus Islamic Index wa…

Jaiz Bank to Acquire National Banking License

Jaiz Bank to Acquire National Banking License

According to its Managing Director/Chief Executive – Mallam Mohammed Bintube – Jaiz Bank Plc is ready for the acquisition of a a national banking license in the following year. The required minimum capital is already raised usong private placement. Mal…