HalalChain and Nigerian Jaiz Bank Team Up to Enhance Financial Inclusion in Africa

  • Apr 12, 2018
HalalChain and Nigerian Jaiz Bank Team Up to Enhance Financial Inclusion in Africa

The leading Blockchain company HLC Technologies had a meeting on Monday 9th April 2018 with the Chairman of Jaiz Bank H.E. Alhaji Dr. Umaru Abdul Mutallab at his office in Abuja, Federal Republic of Nigeria. Mr. Abdullah Han Co-Founder have explained that, HLC  is a registered company based in Dubai Airport Free-zone Authority (DAFZA) and is at the forefront of the Blockchain industry, providing comprehensive solutions to Halal industry traceability, Islamic Economics and Finance, instant E payment, E-commerce and other industry applications powered by blockchain, Internet of things, big data, Artificial Intelligence, biometrics technologies etc. Mr. Han emphasized the key important areas where the Blockchain technology can improve and benefit Nigerian economy and Africa in general. H.E Alhaji Dr. Umaru Abdul Mutallab appreciated the interest and confidence the HLC technologies shown towards investment in Nigerian economy. Both parties have reached a common understanding that there are vast opportunities of cooperation in the area of blockchain based Mobil payment,  social impact financing which could enhance the financial inclusion in the Sub-Sahara region.

About HLC Technologies FZCO

HLC Technologies is a company based in Dubai , which is a decentralized smart chain based on blockchain and Internet of things, that enabling to track and verify any food through all stages of production, processing, and distribution across the entire supply Chain. Thus, the use case of Halal Chain is not only limited to Halal industry; as well as food, medicine and cosmetics abroad.

About Jaiz Bank

Jaiz Bank PLC (Non interest Banking) is a national bank and a quoted public company owned by over 26,000 shareholders spread over the six geo-political zones of Nigeria.The Bank’s balance sheet has grown from N12 billion in 2012 to about N62 billion, with asset financing of over N30 billion (up to USD $89 million). Jaiz Bank Plc upgraded to a National operating license in 2016. The upgrade has enabled it to operate in all 36 states of the Federation including the Federal Capital Territory. The business potential for a Non-Interest Bank in Nigeria is enormous as such an institution has long been awaited by a population of over 93 million Nigerians representing over 50% of the country’s population of about 183 million. Jaiz Bank’s strategic business focus is mainly on retail banking, having due regard to a report published by KPMG in 2006 which estimated the market for retail banking in Nigeria at US$30 Billion. The Bank nevertheless offers corporate and commercial banking services in addition to its retail product offering.

About H.E. Alhaji Dr. Umaru Abdul Mutallab

Prominent business leader and former Minister of the Federal Republic of Nigeria, Chartered Accountant and Banker; former Executive Vice Chairman and Managing Director of United Bank for Africa (UBA) – the third largest bank in Nigeria and an affiliate of BNP Paribas. Also former Chairman of First Bank of Nigeria Plc, the oldest and biggest bank in Nigeria. He is a holder of one of the highest National Awards in Nigeria – Commander of the Order of the Niger (CON). Abdul Mutallab has also been conferred with the Fellowship of both the Association of Chartered Certified Accountants (ACCA) of UK and the Institute of International Bankers Association (FIBA) of the United States of America.