Jaiz Bank Picks Bangladeshi As MD


Jaiz-Bank-180x180Jaiz Bank Plc, the first full-fledged non-interest Bank in Nigeria has appointed Muhammad Nurul Islam from the Islami Bank Bangladesh Limited as its new Managing Director/CEO to steer the affairs of the Bank and better positioned it to realize its vision of being the “dominant non-interest financial services provider in Sub-Saharan Africa.”

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Until his current appointment, Md. Nurul Islam was a Deputy Managing Director at the Islami Bank Bangladesh Limited. He took over from Hassan Usman, who has been acting Managing Director of Jaiz Bank since April.

Md. Nurul Islam is coming with vast knowledge of Non-Interest Islamic Banking experience having worked for over three decades.

He joined the Islami Bank Bangladesh Limited on the March 30, 1983 as an Officer and within a decade he rose to the position of Assistant Vice President (AVP) in 1993, Vice President 1996, Senior Vice President (SVP) 2000, Executive Vice President (EVP) 2003, and then Deputy Managing Director (DMD) on February 10, 2010 a position he held until his appointment as MD/CEO by Jaiz Bank PLC.

Prior to joining IBBL, he served at Agrani Bank Ltd. from 1976 to 1983 as a Computer Professional recruited through IBM worldwide Corporation, USA.

He is a member of many professional associations, including Life Member, Association of the Bankers’ Bangladesh. He holds Masters in Business Administration from the Institute of Business Administration (IBA), University of Dhaka in 1982, with a major in Finance. He obtained a first class honour division in his MBA.

He has attended several professional training and seminars in many parts of the world, including “Lending Risk Analysis” Seminar at Citi Bank School of Banking, New York, USA under the Financial Sector Reforms Project of the Central Bank of Bangladesh which was funded by World Bank and USAID. A programme of which, he came top amongst all the selected participating Bankers. He also attended training in Business Process Re-engineering organized by Center for International Cooperation for Computerization (CICC), Tokyo, Japan.

Jaiz Bank Plc. obtained a Regional operating license to operate as a Non-Interest Bank from the Central Bank of Nigeria on  11, 2011 and begun full operations as the first Non-Interest Bank in Nigeria on January 6, 2012 with 3 branches located in Abuja FCT, Kaduna and Kano. It has since then expanded its network of branches to 10 with additional branches in Gombe, Maiduguri, Katsina, Gusau, and additional branches in Abuja and Kano.

The capital base of the Bank has also grown from N5 billion when it started operations last year to about N10billion. This will enable the Bank to apply for National Banking license from the Central Bank of Nigerian and thus position it to operate in all the States of the Federation from early next year.

Babatunde Akinsola
Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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