Jaiz Bank and the International Islamic Liquidity Management Corporation (IILM) have signed an agreement for the Bank’s onboarding as IILM Primary Dealer.
The IILM is a key international body that issues high-quality, short-term Shariah-compliant liquidity instruments widely recognised by global regulators and central banks.
The signing ceremony took place during the CBN–IILM Liquidity Management Capacity Building Conference in Abuja, recently.
Speaking during the event, Jaiz Bank Managing Director/Chief Executive officer, Dr. Haruna Musa, described the deal as historic, as Jaiz Bank has become the first financial institution in Africa to be admitted into the IILM’s global network of primary dealers.
“The onboarding positions Jaiz Bank to access world-class liquidity management instruments with strong credit quality,” Dr. Haruna said.
He explained that the pact would deepen the Bank’s balance sheet resilience and risk management capacity, adding that agreement would also “Enhance its regional and international visibility within the Islamic finance ecosystem,” adding that, “Strengthen its long-term collaboration with the CBN, IILM, ICD, and other global Islamic finance institutions.”
“This achievement of the Bank aligns fully with the board and management strategic aspiration to elevate Jaiz Bank into a leading institution in Africa’s Islamic finance landscape, while supporting the Bank’s growth trajectory and capital-market activities.”
Dr. Haruna also expressed gratitude to the Central Bank of Nigeria, IILM management as well the board and staff of Jaiz bank for their support.
