Islamic Banking ‘for the future’, says Sambo

A delegation of the board of Jaiz Bank, on Tuesday, paid a courtesy call on Vice President Namadi Sambo at his office in State House, Abuja where he described the Islamic Banking system as ‘banking for the future’.
While commending the Board and Management for the feats it has recorded since coming on board, Sambo identified with the aspirations of the Bank.
“Jaiz Bank is a bank I had known overtime and I have been promoting it, even though I am not a shareholder,” he said.
The Vice President noted the interest the bank has shown in dealing with the National Emergency Management Agency (NEMA) and assured of the readiness of the agency to deal with the bank if it follows due process, while promising to do their utmost best to assist the bank.
Earlier in his remarks, the Chairman of Jaiz Bank, Umar Mutallab, congratulated President Goodluck Jonathan for successfully steering the ship of the nation in the last five years.
The chairman added that in spite of the victory of the opposition party at the polls, the present administration needed to be congratulated and history would continue to record them as great statesmen.
The business mogul also expressed the appreciation of the bank for the support it has been receiving from the Presidency as well Ministries, Departments and Agencies of Government since they came on board.
“We are only two years old and we have recorded profitable operations which is very difficult for a new bank. We hope to start recording dividends in the not too distant future.”
The chairman expressed the readiness of the bank to be associated with NEMA. He described the practice of the bank as that of giving profit and not interest in return, adding that shareholders were not determined by religious creed or inclination and the bank does not discriminate in terms of loans so long as the process was in line with the Sharia tenets.
Finally, he solicited for more support and cooperation from government as they had always received.
Others in the delegation included Managing Director/CEO of the bank, Muhammad Islam, Head, Public Sector, Ismaila Adamu, Executive Director, Hassan Usman and Marketing Director, Hameed Ayo.