Dhaka, Bangladesh (BBN)– Islami Bank Bangladesh Limited (IBBL) will provide technical support to the proposed Nigerian Jaiz Bank for running the business of the proposed bank properly.

An agreement of technical services was signed between the IBBL and Jaiz Bank at the Board Room of Islami Bank Tower in the capital Dhaka on Friday.

Mohammad Abdul Mannan, Managing Director and Md. Shouquat Ali, Board Secretary and Executive Vice President of the IBBL and Mohammad Mustapha Bintube, Managing Director and Falalu Bellu, Dierector of Jaiz Bank signed the agreement on behalf of their respective organizations, a press statement said.

Professor Abu Nasser Muhammad Abduz Zaher, Chairman, Yousif Abdullah Al-Rajhi and Engineer Mustafa Anwar, Vice Chairmen, Directors including Abdulhameed Fouad Al-Khateeb, Mohammad Adnan Midani of Islamic Development Bank and Mohammad Abdullah Al-Jalahma of Kuwait Awqaf Public Foundation & Executives of IBBL were present on the occasion.

Under the agreement, the IBBL will make available suitable, qualified and experienced personnel required for the efficient operation of the business, develop capacity building programs for the training and development of the workforce, design and implement appropriate procedures for all processes, transactions and products to ensure smooth operations of the proposed Nigerian bank.

“Mentioning IBBL a model for its success and skillfulness in Islamic Banking, Islamic Development Bank (IDB) advised Jaiz Bank to take necessary assistance from this Bank,” the statement said.

Following IDBs advice, high power delegation of Jaiz Bank visited Bangladesh and IBBL top executives also visited Nigeria and several meetings took place between the top executives of both Banks. Earlier, a high power delegation of Jaiz Bank received training from Islami Bank Bangladesh Limited. 

BBN/SI/AD-24Dec10-9:43 pm (BST)