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Jaiz Bank has signed an agreement with the International Islamic Liquidity Management Corporation (IILM) to become the first primary dealer from Africa.
This milestone positions Jaiz Bank to access high-quality liquidity management instruments and strengthens its regional and international visibility in the Islamic finance ecosystem.
The agreement was signed during the CBN-IILM Liquidity Management Capacity Building Conference in Abuja. As a primary dealer, Jaiz Bank will play a pivotal role in enabling African institutions to access high-quality, Shariah-compliant liquidity instruments, supporting balance sheet resilience and efficient liquidity management
Speaking during the event, Jaiz Bank Managing Director/Chief ExecutiveOfficer, Dr. Haruna Musa, stated that: “This milestone is historic, as Jaiz Bank becomes the first financial institution in Africa to be admitted into the IILM’s global network of primary dealers.”
“The onboarding positions Jaiz Bank to access world-class liquidity management instruments with strong credit quality,” Dr. Haruna said.
He further explained that the pact would deepen the Bank’s balance sheet resilience and risk management capacity.
According to the MD/CEO, the agreement would also “Enhance its regional and international visibility within the Islamic finance ecosystem,” adding that, “Strengthen its long-term collaboration with the CBN, IILM, ICD, and other global Islamic finance institutions.”
He said: “This achievement aligns fully with the board and management strategic aspiration to elevate Jaiz Bank into a leading institution in Africa’s Islamic finance landscape, while supporting the Bank’s growth trajectory and capital-market activities.”
Dr. Haruna also expressed gratitude to the Central Bank of Nigeria, IILM management as well the board and staff of Jaiz bank for for their support.
The IILM is a key international body that issues high-quality, short-term Shariah-compliant liquidity instruments widely recognised by global regulators and central banks.
CAPTION:
L-R: The CEO of IILM, Mohamad Safri Shahul Hamid and Jaiz Bank MD/CEO, Dr. Haruna Musa, during the CBN- IILM Liquidity Management Capacity Building Conference in Abuja, recently.
