Jaiz Bank Plc, Nigeria’s pioneer non-interest financial institution, has been named the Most Progressive Islamic Bank 2025 by the Global Islamic Finance Awards.

According to a statement issued by the bank on Friday, the announcement was made by the GIFA Awards Committee, chaired by Prof. Humayon Dar.

“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 said.

The committee explained that the choice followed a review of several distinguished nominees, with the final decision reached after “careful deliberation based on the GIFA methodology.”

Receiving the award on behalf of the bank, the Managing Director and Chief Executive Officer, Dr Haruna Musa, dedicated the recognition to staff, customers, and stakeholders.

“This achievement reflects the collective dedication of our Board, Management, and Staff, as well as the unwavering trust of our valued customers and stakeholders,” Musa said.

He added that the award was not only a recognition of the bank’s progress but also a motivation to continue “driving innovation, deepening financial inclusion, and upholding the principles of ethical, Shariah-compliant banking.”

The Global Islamic Finance Awards are internationally recognised for honouring governments, institutions, and individuals who have made significant contributions to the growth and sustainability of Islamic banking and finance.

Over the years, the awards have grown into one of the most respected recognitions in the industry.

In 2024, Jaiz Bank Plc was named the Most Promising Islamic Bank by GIFA.

Jaiz Bank, Nigeria’s first full-fledged non-interest bank, was originally established in 2003 as Jaiz International Plc. It began operations on January 6, 2012, after securing a regional banking licence in 2011.

Since inception, the bank has expanded its branch network and grown its balance sheet from about ₦12bn in 2012 to over ₦1.08tn by the end of 2024.