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Nairaland Forum / Nairaland / General / Business / Jaiz Bank Plans Nse Listing (7793 Views)
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Jaiz Bank Plans Nse Listing by Nomidiva: 12:58pm On Oct 27, 2016 |
With the approval by the shareholders of Jaiz Bank Plc on Wednesday, the bank will soon commence processes to be listed on the Nigeria Stock Exchange (NSE). Jaiz Bank is a non-interest organisation set up in 2003/2004 as a Special Purpose Vehicle (SPV) to establish Nigeria’s first full-fledged non-interest bank. It recently obtained an approval from the Central Bank of Nigeria (CBN) for a National Operating Licence which would enable it to operate in the various states of the federation. At the bank’ s Extra-Ordinary General Meeting in Abuja, shareholders approved the listing of its shares on the NSE and as well, approved the sub-division of the bank’s authorised shares from 15 billion ordinary shares of N1 each to 30 billion at 50 kobo per share. The Chairman of the bank, Alhaji Umaru Abdul-Mutalab, said with the shareholders’ approval, the Memorandum of Association of the Bank would need to be altered to reflect the sub-division of the shares. Abdul-Mutalab said the approval would attract more investors to buy shares, thereby widening the scope of share ownership in the bank. He said: “We feel that there are a lot of people who have shown interest in the bank and we want to give opportunity to all prospective shareholders to come in and out as they want. That is why we feel that there is need to widen the scope of share ownership so that there is liquidity. Most investors do not want to just get on without coming out; we want them to feel that anytime they can come in, buy the shares and also go out.” He said that listing in the stock exchange would attract not only national but also international investors. “Once you are listed in the Nigeria Stock Exchange, you are also in the various sites of a number of international organisations. They can at any time demand your share and buy it either within the country or outside the country,” he said. According to the chairman, the bank is a non-interest institution. “Non -interest does not mean that we are not making profit; we are there to make profit but we do that in such a way that it is not interest based. We do not charge interest but we recognise certain income which is legitimate because all our transaction has to be `Shari’a compliant. There are many non-Muslims who are shareholders with us; all they need to do is to agree to the fact that we do not deal in non-Shari’a products.” The Managing Director/CEO of the bank, Hassan Usman, said, “Once listed, existing shareholders could trade their shares while those new investors could also invest by buying the shares. We have over 30,000 shareholders today both locally and internationally. http://insidebusinessonline.com/index.php/category/companiesmarkets/ 6 Likes |
Re: Jaiz Bank Plans Nse Listing by feldido(m): 1:19pm On Oct 27, 2016 |
Who still does Stocks? ![]() 1 Like |
Re: Jaiz Bank Plans Nse Listing by Nomidiva: 11:40am On Oct 28, 2016 |
Stock is good investment. 2 Likes |
Re: Jaiz Bank Plans Nse Listing by brunofarad(m): 7:03am On Oct 29, 2016 |
OK Let's see how it unfolds
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Re: Jaiz Bank Plans Nse Listing by sakalisis(m): 7:03am On Oct 29, 2016 |
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Re: Jaiz Bank Plans Nse Listing by daamazing(m): 7:06am On Oct 29, 2016 |
. 3 Likes 1 Share |
Re: Jaiz Bank Plans Nse Listing by Adesiji77: 7:08am On Oct 29, 2016 |
Good for them.... 1 Like |
Re: Jaiz Bank Plans Nse Listing by expertman(m): 7:08am On Oct 29, 2016 |
Abdul Matalab wow how times flies. 1 Like 1 Share
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Re: Jaiz Bank Plans Nse Listing by merits(m): 7:08am On Oct 29, 2016 |
Islam is peace. 7 Likes 1 Share |
Re: Jaiz Bank Plans Nse Listing by EazyMoh(m): 7:08am On Oct 29, 2016 |
Good. 2 Likes |
Re: Jaiz Bank Plans Nse Listing by veekid(m): 7:09am On Oct 29, 2016 |
Interesting |
Re: Jaiz Bank Plans Nse Listing by SamuelAnyawu(m): 7:11am On Oct 29, 2016 |
Good.... But I'm 100% loyal to Nestle |
Re: Jaiz Bank Plans Nse Listing by Nobody: 7:12am On Oct 29, 2016 |
We have hear. |
Re: Jaiz Bank Plans Nse Listing by maclatunji: 7:12am On Oct 29, 2016 |
Ok, I hope to do business with them soon. Hopefully, both sides will smile. 3 Likes |
Re: Jaiz Bank Plans Nse Listing by 24SEVEN: 7:13am On Oct 29, 2016 |
Is Umar Abdul-Mutallab not the father of that Underpant bomber? ![]() We better watch out, before we deposit money into the hands of people who have links to terrosists. 4 Likes |
Re: Jaiz Bank Plans Nse Listing by buchilino(m): 7:15am On Oct 29, 2016 |
merits:YEAH RIGHT 1 Like |
Re: Jaiz Bank Plans Nse Listing by Daslim180(m): 7:18am On Oct 29, 2016 |
Ok |
Re: Jaiz Bank Plans Nse Listing by Dotwillis1(m): 7:27am On Oct 29, 2016 |
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Re: Jaiz Bank Plans Nse Listing by Raymondreigns(m): 7:30am On Oct 29, 2016 |
Too long 4 me to read!!!! |
Re: Jaiz Bank Plans Nse Listing by gbaskiboy: 7:30am On Oct 29, 2016 |
Which one is Jayzee bank again? |
Re: Jaiz Bank Plans Nse Listing by Jamean(f): 7:30am On Oct 29, 2016 |
Hence, they require the services of a Registrar. 1 Like |
Re: Jaiz Bank Plans Nse Listing by omowolewa: 7:33am On Oct 29, 2016 |
That is interest already. Maybe I need to be schooled on this, JAIZ bank should do away with all that relates to interest rate like IFRS which emphasizes fair value by interest rate and the so called NSE which is based on interest rates and other factors. Anyway, my account with the bank is intact, no expectation breached. 1 Like |
Re: Jaiz Bank Plans Nse Listing by hopefulLandlord: 7:34am On Oct 29, 2016 |
. 24SEVEN:. stop spreading ignorance brother Umar had no hand in Farouk's suicide bombing fiasco Farouks mother is Yemeni, it was when he went to his mother's country to study Islamic education that he descended into the abyss of terrorism Umar even tried to save his son from carrying out the act by any means possible even reporting his son to authorities investigators also couldn't find ties between him and any terrorist organization he is not even a very devoted Muslim he also has 15 (fifteen) more children and none of them have carried out terrorist attack and before certain people start thinking those 15 are perhaps too young to carry out bombings it should be noted that Farouk was the YOUNGEST of all Umar's children oh! before people start getting ideas, I am NOT a muslim 28 Likes 1 Share |
Re: Jaiz Bank Plans Nse Listing by Mopolchi: 7:37am On Oct 29, 2016 |
Hope dem no go jazz buyers later? |
Re: Jaiz Bank Plans Nse Listing by casttlebarbz(m): 7:37am On Oct 29, 2016 |
daamazing:what are u saying? 3 Likes |
Re: Jaiz Bank Plans Nse Listing by aalangel(f): 7:40am On Oct 29, 2016 |
Jaiz kwa ![]() |
Re: Jaiz Bank Plans Nse Listing by obua: 7:40am On Oct 29, 2016 |
24SEVEN:The father reported the son to the authorities when he noticed that the son had been indoctrinated 1 Like |
Re: Jaiz Bank Plans Nse Listing by 24SEVEN: 7:44am On Oct 29, 2016 |
obua: Yea, i know that. What im saying is he didn't bring up his kids properly... and seeing kids usually have access to their dads money, those with bad intentions will now access to funds to perpetrate their evil desires. The CIA better watch that family. |
Re: Jaiz Bank Plans Nse Listing by newguy1(m): 7:47am On Oct 29, 2016 |
That the way forward@ will also make more Muslim who wishes to follow the Islamic way of banking safe their money. I guess non Muslim in nigeria we go here n start make nonense propaganda about this, but if u guys could @least open ur brain n understand the principle of these system u might find it benefit, n lastly Wu d convectional Nigerian banking system don epp except d already rich 3 Likes |
Re: Jaiz Bank Plans Nse Listing by demio007: 7:48am On Oct 29, 2016 |
Islamic bank operation -customers must deal with only aproved sharia products. When the list of approved sharia products is out I will check. Non Interest bank growing while interest bank getting weaker in governt created recession, bubu govt keep it up. Yaweh!! Is the miracle working God. Interest or noninterest. His children don't lack. |
Re: Jaiz Bank Plans Nse Listing by Nobody: 7:53am On Oct 29, 2016 |
Nice one from Jaiz bank 1 Like |
Re: Jaiz Bank Plans Nse Listing by olaitan9291(m): 7:59am On Oct 29, 2016 |
24SEVEN: What is your proof that they have links with Terrosists? please. |
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