• Thursday, February 22, 2024
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Jaiz, IDB sign MoU on Qurbani collection

JAIZ Bank secures N3BN from BOI to finance MSMEs

Jaiz-bankRepresentatives of Jaiz Bank plc and Islamic Development Bank (IDB) yesterday signed a memorandum of understanding (MoU) authorising Jaiz Bank as the sole collector of Hadaya (Qurbani or animal sacrifice) collections from intending pilgrims to Saudi Arabia.

Muhammad Nurul Islam, managing director, Jaiz Bank, and Rukayat Salaudeen, company secretary, signed on behalf of Jaiz bank, while Ahmed Reheimi and Mansur Noibi signed for IDB.

A letter of appointed earlier convened by the National Hajj Commission of Nigeria (NAHCON) mandated Jaiz Bank to collaborate with IDB based in Jedda to ensure the success of the collection.

The arrangement is a social development project aimed at catering for the welfare of vulnerable in poorer countries.

An intending pilgrim pays the Hadaya fee to Jaiz Bank or other designated bodies and a coupon will be issue to him/her in Saudi Arabia for the slaughtering of animal.

Nurul Islam assured of the success of the arrangement, while Ahmed Reheimi of IDB revealed that money paid by intending pilgrims who were not able to perform the Hajj would be returned.