Jaiz Bank Plc, the premier non-interest bank has secured a N3 billion credit facility from the Bank of Industry (BOI) to boost and develop small and medium enterprises in the country.
Small and medium businesses will receive loans from this credit facility to grow their businesses and create wealth
Mr. Shekarau Omar, Executive Director of the BOI presented the cheque in delight to Mr. Hassan Usman, the MD of Jaiz Bank.
According to Omar, BOI believes strongly that through Jaiz Bank, the funds would be disbursed to the target groups.
Omar also stated that BoI understood the importance of MSMEs to the development of the economy.
In line with the conviction of the management of BoI that the MSME sector held the key to economic development, the bank was ready to work with financial institutions that are willing to support the sector to achieve its potential of job creation and poverty reduction.
Omar also stated that BoI was already in the partnership with 16 different financial institutions and so far had disbursed N3.8bn
Mr. Hassan Usman while receiving the cheque from Mr. Omar at the BOI office, assured that targeted beneficiaries will access the funds to grow their businesses and create wealth.
Usman added “We have already started pilot financial inclusion drive. We are also going to use agency banking to reach those people in places where we are not physically present. We are also intervening to provide financing to women group.”