The foremost non-interest financial institution in Nigeria, Jaiz International, has won three awards at the sixth Global Islamic Microfinance Forum (GIMF) organised by the 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, Dr. Umar Abdul-Mutallab (CON); Best Corporate Social Responsibility Award to Amb. Adamu Babangida Ibrahim, Director General/CEO, Jaiz Charity and Development Foundation and The Best Rising Islamic Microfinance Personality Award 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 organisations and other allied sectors of Microfinance to address the poverty problems and their solutions through Islamic Microfinance.
The awards, which were given after a rigorous evaluation of record number of nominations by an internal research team and an award committee, recognise 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 organisation on April 2, 2012, for charitable and other sectoral interventions.
It was also set up to act as a Corporate Social Responsibility implementing agency of Jaiz Bank Plc.
Jaiz Foundation, in addition to its core responsibilities, also deemed it fit to invest in Shariah compliant ventures such as 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 and management of endowments (Waqf).
Jaiz Takaful Insurance Plc, which is wholly owned by Jaiz Charity and Development Foundation, was incorporated on Jan. 31, 2014 to transact Family Takaful and the Halal option of Pension Schemes.
It is also to transact business 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.