The Managing Director/Chief Executive, Jaiz Bank Plc, Mr Hassan Usman, says that the federal government utilised Islamic financing instruments, particularly the Sukuk, to raise over N350 billion within the past three years to execute road projects across the country.
Usman says that the bank has been able to expand credit to the real sector of the economy, financing Small and Medium Enterprises as well as working with women, vulnerable groups and those at the bottom of the pyramid to deepen financial inclusion.
The Jaiz Bank boss says the banks have the traditional mandate to engage in forex transactions.
He pointed out however that the apex bank in a bid to bring forex services closer to customers decided to use the BDCs, a privilege that had been abused.