Jaiz Bank Boosts SMES Through FOREX

Jaiz Bank sees 47.7% rise in PAT to N1.85Bn in Q3

Jaiz Bank Plc, the premier non-interest bank in Nigeria has resumed selling of foreign exchange to operators of Small and Middle Enterprises (SMEs) to open up businesses and boost the nation’s economy amidst Covid-19 pandemic.

The stated in a statement that the foreign exchange transactions are also available to parents to pay their children’s school fees and medical bills.

Jaiz Bank Boosts SMES Through FOREX - Brand Spur

Other areas include Personal Travel Allowances (PTA) and Business Travel Allowances (BTA) amongst others.

According to the bank, SMEs importers can get up to $20,000 per quarter, however, items of importation must not fall under those prohibited, as directed by the Central Bank of Nigeria (CBN).

The statement read:While the pandemic is being fought with lockdown and economies are opening up, we are committed to providing services that would encourage small and medium-sized businesses because we strongly believe they are the fulcrum for economic growth and development.”