JAIZ BANK QUOTED, ADDS N36.8BN TO NSE

Nigeria's pioneer solely Islamic bank, Jaiz Bank. was listed on the the stock market yesterday February 9 adding N36.83bn to market capitalisation that, all the same could not avoid half circle turn downwards.

Jaiz Bank PLC was listed at N1.25 per share with 29,464,249,300 units tradable.

Its place on the main board of the Nigerian stock market was secured by introduction through related professional  services provided by firms like Finmal Financial services; Kundila Finance services ltd, Global Juris Consultancy, Ahmed Zakari & co and African Prudential Registrars PLC.

Jaiz Bank PLC was represented at the ceremony at the stock exchange by its chairman, Alhaji Umaru Abdul Mutallab, a veteran banker and the managing /CEO Hasssn Usman.

Other directors present were Dr Musha Bssir and Alhaji Umaru Kwairanga.

In his speech to kick off the event, the CEO of the market. Mr Oscar Onyema attributed the listing to hard work by the professionals involved and staff of the NSE and the Securities and Exchange Commission.

Quoting the World bank. he estimated Islamic finance market to be between $1.88tr and $2.1tr with potential to hit the $3.4tr mark by 2018.

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