Jaiz Bank Prioritises Customers’ Repayment Capacity Over Interest, Says Manager
Ado-Ekiti branch chief explains interest-free banking, asset-based financing and support for established businesses By Idowu Adebomi, Ado-Ekiti The Branch Manager of Jaiz Bank, Ado-Ekiti, Mr Oluwatimilehin Idowu, has explained that the bank’s interest-free banking model prioritises customers’ ability to repay financing and the intended use of funds rather than the interest earnings that typically drive conventional lending. Idowu, who spoke during an interview in Ado-Ekiti, said the bank operates on an ethical financing system designed to connect customers and businesses with available funds while ensuring that money entrusted to it is channelled towards productive economic activities. According to him, Jaiz Bank places considerable emphasis on assessing a customer’s repayment capacity and business profile before approving financing, stressing that the approach is intended to promote responsible lending and reduce the risk of defaults. He said: “Our priority is the person’s ability to ...
