Jaiz Bank joins global liquidity primary dealer
Jaiz Bank
Jaiz Bank has signed an agreement with the International Islamic Liquidity Management Corporation (IILM), becoming the first financial institution in Africa to join the global network of IILM’s primary dealers.
The agreement was formalised during the liquidity management capacity building conference organised by the Central Bank of Nigeria (CBN) and IILM in Abuja.
IILM is an international organisation that issues high-quality, short-term, Shariah-compliant liquidity instruments that are widely accepted by regulators and central banks across the world.
Managing Director, Jaiz Bank Plc, Dr. Haruna Musa, described the development as a major step for the institution. “This milestone is historic, as Jaiz Bank becomes the first financial institution in Africa to be admitted into the IILM’s global network of primary dealers,” he said.
Primary dealers serve as key intermediaries in financial markets, buying and selling liquidity instruments directly from the IILM and helping to maintain an active and stable market environment. Their role supports the implementation of monetary policy, ensures liquidity and provides market intelligence to the IILM.
Haruna noted that joining the network would give the bank access to some of the most reputable liquidity management instruments available in the global Islamic finance space. “The onboarding positions Jaiz Bank to access world-class liquidity management instruments with strong credit quality,” he said.
He added that the partnership would strengthen the bank’s financial buffers. According to him, the agreement would deepen Jaiz Bank’s balance sheet resilience and improve its risk management capacity.
Haruna further stated that the new status would “enhance its regional and international visibility within the Islamic finance ecosystem,” while also helping to “strengthen its long-term collaboration with the CBN, IILM, ICD, and other global Islamic finance institutions.”
He said the achievement reflects the bank’s long-term vision. “This accomplishment aligns fully with the board and management strategic aspiration to elevate Jaiz Bank into a leading institution in Africa’s Islamic finance landscape, while supporting the Bank’s growth trajectory and capital-market activities.”
He expressed appreciation to the CBN, IILM leadership, and the bank’s board and staff for their support in achieving the feat.
