Jaiz Bank Plc, the premier non-interest bank in Nigeria, last week shared experiences on rudiments of financing agribusiness with delegates from The Gambia.
The Gambian delegates were taught on different Islamic products and services and on how to structure financing in accordance with the dictates of Islamic banking principles.
The delegates are from the Small Ruminants Production Enhancement Project (SRPEP) of the Ministry of Agriculture in The Gambia.
The knowledge sharing session included financing products, particularly Murabaha, Service Ijara, Istisna and Ijara wa Iqtina.
Speaking during the visit, the managing director of Jaiz Bank, Hassan Usman, assured the delegates that Jaiz was ready to work with them to “share knowledge”.
He informed them that Jaiz Bank had a long-standing relationship with The Gambia, and assured them same would be sustained for the mutual benefit of the two institutions, and by extension, their respective countries.
He advised them to focus on agricultural financing, as Africa was not only blessed with fertile lands to invest on, but that the sector was the future of the continent.
Earlier, the head of the Gambian delegation and SRPEP coordinator, Mr Abdoulie Touray, said they were in Jaiz Bank to strengthen an existing relationship and to further understand the workings and challenges of operating and financing businesses under Islamic banking principles.
