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Headline : Jaiz Bank secures $20 million equity investment from Saudi Arabia’s ICD

Read more from the original article on here at www.premiumtimesng.com.





Tags : #jaiz #bank #secures #20 #million #equity #investment #saudi #arabias #icd


No. of Paragraph 38

Non-interest financial institution Jaiz Bank Tuesday closed a $20 million equity investment deal with the Islamic Corporation for the Development of the Private Sector (ICD) to back its operations in Nigeria.

A subsidiary of the Islamic Development Bank (IsDB), based in Saudi Arabia’s financial hub Jeddah, ICD provides financing for projects and explores equity participation in the corporate sector and other private sector groups of member countries.

IsDB, the parent, is owned by 57 countries, led by Saudi Arabia which holds about one-quarter of the shares, and has Nigeria and more than 20 other African nations among its members.

Chief Executive Officer Haruna Musa signed the agreement on behalf of Jaiz Bank on the closing day of a series of events celebrating the golden jubilee of IsDB.

Read more from the original article on here at www.premiumtimesng.com.


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