Jaiz Bank spends N100m on Internally Displaced Persons

The Islamic non-interest bank, JAIZ, said it had spent over N100 million in providing essential needs to the Internally Displaced Persons (IDP) as part of its humanitarian services.

The bank’s Head of Corporate Commucations, Mal. Idris Salihu, told the News Agency of Nigeria (NAN) on Wednesday in Abuja that officials of the bank had been visiting the different IDP camps, donating various food items, clothing and medication to the the insurgency victims.

Salihu said that the Jaiz humanitarian assistance was also being extended to families in Maiduguri, Damaturu and Yola who were providing shelter to numerous displaced persons and their relatives.

He added that "Jaiz Bank's humanitarian officials are going around the areas affected by insurgency to find such families and assist them’’.

Salihu said that the JAIZ Charity and Development Foundation was coordinating the efforts "as an on-going process to support and complement Federal Government’s initiatives’’.

He disclosed that part of the funds being spent on the humanitarian efforts were derived from interest paid by commercial banks where JAIZ shareholders money were initially kept.

He said that "since such funds were forbidden (haram) for JAIZ bank to mix with its capital, the money was handy for assisting displaced persons among others’’.

The spokesman said that the bank had also been partnering the Islamic organisation, JIBWIS, to assist indigent persons in Borno, Adamawa, Bauchi and other parts of the North East affected by crisis.

JAIZ bank formally commenced commercial non-interest banking operations in the country in 2012.