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The Board of Directors of Jaiz Bank Plc has approved the appointment of Mahe Abubakar as the acting Managing Director/CEO of the bank. He succeeds Muhammad Nurul Islam, whose two-year contract ended on November 17, 2015.
Until his appointment, Abubakar was an Executive Director in charge of Business Development. A statement by the Head, Corporate Communications Department of the Bank, Idris Salihu described Abubakar as an astute banker with over 20 years cognate experience.
Before he joined Jaiz bank, he was a General Manager/ Group Zonal Head of Zenith Bank Plc in charge of the Northwest region. His wealth of experience is expected to impact greatly on Jaiz Bank's business development drive. Abubakar has a Master Degree in Business Administration from the Ahmadu Bello University, Zaria and he is a qualified Dealing Clerk of the Nigerian Stock Exchange.
He had attended several trainings in and outside Nigeria including High Potential Leader: Accelerating Your Performance at Wharton School, Pennsylvania, USA; High Performance People Skills, London Business School; and Senior Management Programme, Lagos Business School.

Jaiz Bank Plc, Nigeria’s sole Islamic bank has announced the appointment of Mahe Abubakar as the acting Managing Director/CEO of Jaiz Bank Plc.
Until his appointment, Abubakar was an Executive Director in charge of Business Development.
A statement from the Head, Corporate Communications Department of the Bank, Idris Salihu said Abubakar is taking over from Muhammad Nurul Islam, whose two-year contract ends on the 17th of November, 2015.
Salihu said the Board expressed gratitude to Islam for his innumerable contributions towards the growth and success of Jaiz Bank Plc in the last two years.
Nurul Islam joined Jaiz Bank in November 2013 and turned it around from a negative balance-sheet to a positive result in 2014. “He came in on a Technical Agreement Jaiz Bank has with the Islamic Bank of Bangladesh to train and put the staff of Jaiz Bank through Islamic Banking because of their long experience in the subsector” the statement said.
Jaiz Bank is now operating in 21 locations from the 10 locations he met. Under Islam’s leadership, Jaiz also obtained Approval-in-Principle for a license from the Central Bank of Nigeria to operate nationwide.

Muhammad Nurul Islam, managing director/chief executive officer of Jaiz Bank, explained that wholesale transparency in the bank’s regular operations at all levels has enabled it to move away from huge losses to break-even point in record time. However, there are also challenges for the bank, such as the need for a liquidity management instrument that is non-interest banking compliant to manage our excess liquidity. Islam also said that by 2016 end, the bank will have improved capital to enable it go outside the shores of Nigeria. So in the next five years, Jaiz Bank will go International and expand its business base.

Corruption remains the biggest obstacle hindering Nigeria from achieving its economic potentials, according to the Managing Director of Jaiz Bank, Muhammad Nurul Islam. Speaking in a keynote lecture at a one-day forum of the Finance Correspondents Association of Nigeria (FICAN), Islam said corruption had often given way to a situation where the wrong people had been given leadership responsibilities. Moreover, he said FICAN had a critical role to play in exposing illegal financial transactions. The aim of the FICAN platform was to promote a mechanism for reviewing and analysing activities in the country's economic sphere.

Jaiz Bank has appointed Muhammad Nurul Islam from the Islami Bank Bangladesh Limited as its new managing director/chief executive to steer its affairs and better position the bank. He takes over from Hassan Usman, who had been acting managing director of Jaiz Bank since April. Nurul Islam has vast knowledge of non-interest Islamic banking experience garnered for over three decades. He holds Masters in Business Administration from the Institute of Business Administration (IBA), University of Dhaka in 1982, with a major in finance and has attended several professional training and seminars. Moreover, he is a member of many professional associations, including Life Member, Association of the Bankers’ Bangladesh.