Jaiz Charity and Development Foundation (also known as Jaiz Foundation) was established by the first Non-Interest Bank in Nigeria called Jaiz Bank Plc. One of the characteristics of Non-Interest Banking is the establishment and maintenance of a charity and development organization. This is the special purpose vehicle (SPV) by which certain types of incomes that are non-permissible or doubtful are channeled to the SPV to be used for charitable purposes. These non-permissible are not recognized by the Bank or the ones classified as doubtful by the Bank’s Advisory Council of Experts (ACE). However, other sources of income such as Zakah obligations, Awqaf (Endowments), Sadaqaat (Donations), Income from Investments and Grants, etcetera are encouraged for the sustainability of the charity and development activities of the Foundation.
Jaiz Foundation is a charitable, non-profit and non-governmental organization meant to complement the efforts of governments in improving people’s lives. In line this philosophy, we are poised to either initiate or partner with local and/or international development agencies to embark on impactful projects with a view to contributing to the socio-economic development of the poor and vulnerable people in the society.
As part of our core mandates, we are committed to providing interventions in areas of eradicating extreme hunger and poverty, enhancing youth and women economic empowerment, provision of education, health, environment, potable drinking water and sanitation and capacity building. Against this philosophical underpinning, Jaiz Foundation was established by Jaiz Bank Plc on the 2nd of April, 2012 and registered under Part C of the Companies and Allied Matters Act 2004 with registration number IT/51511 with its corporate Head Office in Abuja, Federal Capital Territory, Nigeria.
As a fully independent organization with its separate Board of Trustees (BOT), Jaiz Foundation serves as the link between the Bank and the community through the implementation of the Bank’s Corporate Social Responsibility (CSR) programs. Its ideology is rooted from that of the Islami Bank of Foundation, Bangladesh which was established by the Islami Bank of Bangladesh Limited (IBBL), to carry out its CSR. The IBBL is the technical partner of Jaiz Foundation as approved by the Central Bank of Nigeria. Currently, Jaiz Foundation is administered under the policy of a 7-member BOT made up of distinguished persons who have excelled in fields ranging from Banking and Finance, Investments, education, humanitarian aid and Islamic jurisprudence. Its activities are effectively managed by a team of professionals under the leadership of a Director General/Chief Executive Officer.
To be one of the global leading Islamic charity and development organizations
To improve the quality of life and provide timely socio-economic development support through direct and indirect interventions to the Ummah and humanity at large
- Competency which implies our expertise
- Accountability to the Ummah which implies our responsibility
- Reliability which implies our trustworthiness
- Empowerment of the less-privileged which implies our affection and compassion
- Livelihoods/economic empowerment of the poor and vulnerable
- Entrepreneurship development project
- Agricultural intervention – facilitation of micro credit (Mudaraba & Qard al-Hassan)
- WASH (Water, Sanitation and Health)
- Education (Human Capital Development)
- Humanitarian Intervention (Disaster/Emergency Relief, IDPs)
- Management and administration of Islamic Social Finance instruments (Zakah, Sadaqah and Awqaf): Its assessment, collection and distribution