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Jaiz Bank will list shares on NSE

Jaiz Bank

The Nigerian Stock Exchange, NSE, has confirmed the listing of Jaiz Bank, Nigeria’s only full-fledged Islamic Bank on Thursday, 9th of February.

The Bank will on the same day also present to stakeholders, facts behind its listing, to bring to three new listings successfully carried out on the Exchange this year.

Jaiz Bank, had earlier applied to the NSE to list by introduction of 29.5 billion ordinary shares of 50 kobo each at the rate of N1.25 per share, which was approved by the Quotations Committee of the Management of the NSE.

Financial facilitators of the listing named by the Bank are, Finmal finance Services limited and Kundila Finance Services limited (stock brokers) while issuing house and financial advisers were mentioned as Finmal finance Services limited and Inverness Wealth Management Limited.

Jaiz Bank is the only full-fledged Islamic Bank in Nigeria. It recently obtained approval from the Central Bank of Nigeria, CBN, for a national operating license to enable it operate in all parts of the federation.

According to the Bank, its intention is to increase its current share Capital base from N15 billion (USD$75 million) to N25 billion (USD$ 125 million). The Bank said this upgrade will enable it position itself towards the actualisation of its vision of serving the sub Saharan African markets effectively in one of the most thriving sectors of the African economy.

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