Jaiz Bank Plc, the first full-fledged non-interest bank in Nigeria has entered into a partnership with Teasy Mobile Money (a CBN-licensed Mobile Payment Operator) to provide financial services to Nigerians, through Mobile Phone.
This is part of their efforts to implement financial services inclusion of the Central Bank of Nigeria (CBN) to everyone in the society.
Part of CBN’s 2020 Financial System goals is the implementation of the Cashless Policy and Financial Inclusion Strategy, aimed at ensuring that Nigerians get access to financial services in order to grow their financial capacity and that of the economy as a whole.
Jaiz Bank was licensed by the CBN to provide financial services to all based on ethical principles of fairness, profit sharing, transparency and objectivity and other tenets of Islamic banking.
Speaking during the signing ceremony, the Acting Managing Director of Jaiz, Hassan Usman highlighted the importance of the collaboration as integral to reaching a critical group in Nigeria that has been excluded from the banking system due to the high cost associated with accessing the service.
The strategic partnership between the two companies is expected to drive financial inclusion in Nigeria even further.
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