Jaiz Bank Plc, the premier Non- Interest Bank in Nigeria last week, shared experiences on rudiments of financing Agribusinesses with delegates from The Gambia.
On the introduction of Al Huda Center of Islamic Banking and Economics (CIBE), a Consultant of the Islamic Development Bank (IsDB) Project for Islamic Microfinance in The Gambia namely, “Small Ruminant Production Enhancement Project (SRPEP)”, the delegates were taught on different Islamic products and services and on how to structure financing in accordance with the dictates of Islamic Banking principles.
The SRPEP Programme is being implemented by the Ministry of Agriculture, Government of the Gambia. The knowledge sharing session included aspects of the various financing products, particularly Murabaha, ServiceIjara, Istisna & Ijara waIqtina.
Speaking during the visit, the Managing Director Hassan Usman welcomed the delegates, and assured them that Jaiz Bank is ready to work with them to “share knowledge.”
He informed the trainees that Jaiz Bank has a long-standing relationship with The Gambia, and assured them that same would be sustained for the mutual benefits of the 2 institutions and by extension, their respective countries. He advised the trainees to focus on agricultural financing, as Africa is not only blessed with fertile lands to invest on, but that the sector is the future of the continent.
Also speaking, Jaiz Bank’s Executive Director, Business Development, North, Dr. Salisu Sirajo, advised them not to look at the size of the Gambia but to focus on the market opportunities.
Earlier, the Head of the Gambian delegation and Project Coordinator, CPCU, Mr. AbdoulieTouray stated that they were in Jaiz Bank to strengthen the existing relationship, and to further understand the workings and challenges of operating and financing businesses under the Islami Banking principles.