JAIZ Wins at Global Microfinance Forum

By Modupe Gbadeyanka

The foremost non-interest financial institution in Nigeria, Jaiz International has won three awards at the 6th Global Islamic Microfinance Forum (GIMF) organised by Centre of Islamic Banking and Economics in Nairobi, Kenya.

The organisation and its associated institutions – Jaiz Charity and Development Foundation, Jaiz Takaful Insurance Plc, Jaiz Zakat and Waqf Trust Fund won the awards.

The awards are Lifetime Achievement Award bestowed on the Chairman of Jaiz Foundation, Alhaji (Dr.) Umar Abdul-Mutallab, CON; Best Corporate Social Responsibility Award to Ambassador Adamu Babangida Ibrahim, Director General/CEO, Jaiz Charity and Development Foundation and The Best Rising Islamic Microfinance Personality Award was awarded to the Managing Director of Jaiz Takaful Insurance Plc -Mr Momodou Musa Joof.

Global Islamic Microfinance Forum is an annual apex gathering of Islamic Microfinance, Takaful, Islamic Banking, Rural Finance, Funder/ Donor agencies, Multilateral organizations and other allied sectors of Microfinance to address the poverty problems and their solutions through Islamic Microfinance. The awards which were granted after a rigorous evaluation of a record number of nominations by an internal research team and an award committee, recognize the industry leaders and promote the concept of poverty alleviation from over 35 participating countries.

Jaiz Foundation was a product of the first non-interest Bank in Nigeria; Jaiz Bank Plc. It was established as nonprofit, non-governmental charitable organization on the 2nd of April, 2012, to among other core areas of Charitable and other Sectoral interventions also act as a Corporate Social Responsibility implementing agency of Jaiz Bank Plc.

Jaiz Foundation for reasons including sustainability of its core functions, deemed it fit to invest in Shariah compliant ventures such as the established Jaiz Takaful Insurance Plc, and El-Jaiz Investments and Services Ltd. It has also established an independent institution; Jaiz Zakat and Waqf Trust fund, to handle the collection and distribution of Zakat as well as management of endowments (Waqf).

Jaiz Takaful Insurance Plc, which is wholly owned by Jaiz Charity and Development Foundation was incorporated on 31st January,2014 to transact Family Takaful and the Halal option of Pension Schemes and to transact in all classes of Non-Life Insurance such as Marine (Cargo, Hull and Liabilities), Fire, Motor, Accident, Aviation, Engineering, Property, Oil and Gas, Health, Micro-Insurance, among others.