Pages

Thursday 5 July 2012

Jaiz Bank to raise N8bn

The Jaiz Bank, a non-interest bank, on Wednesday in Abuja announced plans to raise N8 billion to enable it to acquire the status of a national bank.

Board Chairman, Alhaji Umaru Mutallab, told shareholders at the bank’s ninth annual general meeting that the fund would be raised through two separate private placements, the News Agency of Nigeria reports.

“I want to seek your permission and support so that we apply to all the relevant regulatory bodies to raise the share capital to N8 billion to obtain a national license.

“This will be done in two separate private placements, one of which will be through the Islamic Development Bank because they have been part of this way back since the 1990s,” he said.

No comments:

Post a Comment