Jaiz Bank Plc, Nigeria’s pioneer non-interest financial institution, has been honoured with the award of Most Progressive Islamic Bank 2025 by the Global Islamic Finance Awards (GIFA).

In a statement released on Friday, the GIFA Awards Committee, chaired by Professor Humayon Dar, confirmed the recognition after reviewing several distinguished nominees.

“It gives me immense pleasure to inform you that Jaiz Bank Plc has been chosen to receive the Most Progressive Islamic Bank 2025 Award,” Dar announced.

The bank’s Managing Director and Chief Executive Officer, Dr. Haruna Musa, received the award on behalf of the institution and dedicated it to staff, customers, and stakeholders.

“This milestone reflects the collective commitment of our Board, Management, and Staff, as well as the unwavering trust of our customers and stakeholders,” Musa said. He added that the award not only acknowledges the bank’s achievements but also serves as motivation to keep driving innovation, promoting financial inclusion, and upholding ethical, Shariah-compliant banking principles.

The Global Islamic Finance Awards are internationally recognised for celebrating governments, institutions, and individuals that have contributed significantly to the development and sustainability of Islamic banking and finance. Over time, the awards have become one of the industry’s most respected honours.

In 2024, Jaiz Bank Plc received the Most Promising Islamic Bank award from GIFA.

Established in 2003 as Jaiz International Plc, the bank became Nigeria’s first full-fledged non-interest bank when it commenced operations on January 6, 2012, after obtaining a regional banking licence in 2011. Since its inception, Jaiz Bank has expanded its branch network and grown its balance sheet from about ₦12 billion in 2012 to over ₦1.08 trillion by the end of 2024.