IN­TER­VIEW How Jaiz Foun­da­tion is de­vel­op­ing Nige­ria, chang­ing lives – Ibrahim

Daily Trust - - BUSINESS - Is this prac­tised world­wide? Who are the pri­mary ben­e­fi­cia­ries of the char­ity? To what ex­tent has the Foun­da­tion pos­i­tively im­pacted on the wel­fare if its tar­get ben­e­fi­cia­ries? Adamu Ba­bangida Ibrahim, DG/CEO, Jaiz Foun­da­tion Apart from funds sourced

re­cently did another in­ter­ven­tion for IDPs in Borno State last year. Just about two weeks ago, we did another in­ter­ven­tion where we bought food­stuffs, blan­kets, etc. worth over N10mn. We also pre­sented, last two weeks, ma­te­ri­als to in­ter­nally dis­placed per­sons, not in gov­ern­ment camps this time, but to IDPs liv­ing within com­mu­ni­ties. There are IDPs liv­ing among the peo­ple. One thou­sand five hun­dred fam­i­lies ben­e­fited from this in­ter­ven­tion, which ranged from food­stuffs, ma­te­ri­als, treated mosquitoes nets, blan­kets and the rest

What is the vi­sion of the Foun­da­tion?

The tech­ni­cal part­ners of the bank, the Is­lamic Bank of Bangladash, has a very strong Foun­da­tion, which even boasts of a stan­dard hos­pi­tal, and in­ter­venes in eco­nomic em­pow­er­ment by grant­ing mi­cro cred­its. That is the same vi­sion we have at this Foun­da­tion. Cur­rently, we are work­ing to­wards col­lab­o­rat­ing with es­tab­lished in­sti­tu­tions in pro­vid­ing mi­cro-credit, and in pro­vid­ing sound ru­ral healthcare de­liv­ery, schools of nurs­ing and health tech­nol­ogy. We will be col­lab­o­rat­ing with ex­perts in es­tab­lish­ing these in­sti­tu­tions. That is our vi­sion, to con­trib­ute our quota to hu­man de­vel­op­ment and as­sist gov­ern­ment in the eco­nomic de­vel­op­ment of our coun­try What are your chal­lenges? We have is­sues of man­power. Since I came in, we have been try­ing to have the re­quired skilled man­power with the req­ui­site op­er­a­tion? ex­pe­ri­ence. The sec­ond chal­lenge We also made some cash do­na­tions What Jaiz Foun­da­tion did was to

is that with the high de­mand for along the line to the fam­i­lies of those es­tab­lish another Foun­da­tion which

in­ter­ven­tion, es­pe­cially with the who con­trib­uted when Jaiz Bank was it reg­is­tered with the Cor­po­rate

in­sur­gency prob­lem and peo­ple es­tab­lished. Af­fairs Com­mis­sion. This is solely

need­ing eco­nomic em­pow­er­ment, When there was an at­tack at a go­ing to be re­spon­si­ble un­der the

our re­sources are lim­ited. With­out Fri­day prayer mosque in Kano, Jaiz Foun­da­tion for the col­lec­tion

ad­e­quate re­sources, we can­not do we do­nated N10m. We spe­cially and man­age­ment of zakat.

all these in­ter­ven­tions. These are do­nated N10m each to the Kano .Cur­rently, we have a prop­erty

some of the chal­lenges we are fac­ing State gov­ern­ment and the Kano­nat­ed­byHa­jiyaFa­ti­ma­worth Emi­rate Coun­cil. That was in N11.6m which we have se­cured.

What is your fi­nal word for De­cem­ber 2014. We have fenced it and con­struc­tion

Nige­ri­ans? will soon be­gin as ap­proved by My fi­nal word for Nige­ri­ans is our board. Ha­jiya Fa­tima do­nated that they are the main pur­pose of this to serve hu­man­ity. So there is es­tab­lish­ing Jaiz Foun­da­tion, in a sep­a­rate en­tity that will han­dle col­lab­o­ra­tion with our Jaiz Bank Plc. col­lec­tion and dis­tri­bu­tion of zakat Be­sides the is­sue of earn­ing prof­its, and man­age­ment of en­dow­ment the bank ex­ists to as­sist in eco­nomic work­ers. de­vel­op­ment. We un­der­take the

Since you took over as the CEO eco­nomic em­pow­er­ment of the of the Foun­da­tion, what has been peo­ple and re­duc­tion of ex­treme your ex­pe­ri­ence? poverty in our so­ci­ety. We also strive

It has been in­ter­est­ing. to elim­i­nate idle­ness and job­less­ness. I found out that there Peo­ple should be en­trepreneurs. are lots of ar­eas that Cur­rently, we are col­lab­o­rat­ing need in­ter­ven­tion; with the Daily Trust to set up a fund peo­ple need as­sis­tance. where funds for mi­cro schemes The rate of re­quests we can be ac­cessed with­out in­ter­est. re­ceive ev­ery­day is so There are lots of pro­grammes much that if we to­day that can em­power Nige­ri­ans to be de­cide to dis­burse all en­trepreneurs. We are do­ing our we have, it won’t be own bit in try­ing to see how we can enough for peo­ple who bring up peo­ple eco­nom­i­cally for the are in need. We just ben­e­fit of our so­ci­ety. Adamu Ba­bangida Ibrahim is the Di­rec­tor-Gen­eral and Chief Ex­ec­u­tive Of­fi­cer of Jaiz Char­ity and De­vel­op­ment Foun­da­tion, a non-gov­ern­men­tal or­gan­i­sa­tion of the Jaiz Bank. In this ex­clu­sive in­ter­view with Ibrahim tells how the Foun­da­tion is de­vel­op­ing Nige­ria and chang­ing lives of the less-priv­i­leged dev­as­tated by the in­sur­gency in some parts of the coun­try

Any in­come that is com­ing into the bank that can­not be ap­pro­pri­ately de­scribed as halal in­come is chan­nelled into the Foun­da­tion for char­ity pur­poses. The main is­sue in a non-in­ter­est fi­nan­cial in­sti­tu­tion is that noth­ing in the form of in­ter­est, or what we call ribba in ara­bic, can be recog­nised as in­come. There­fore, any type of in­come that comes into Jaiz Bank in form of in­ter­est which can­not be deemed le­gal un­der Is­lamic Sharia prin­ci­ples has to be moved to the Foun­da­tion. That is why a lot of the in­come, that is, pre-in­cor­po­ra­tion in­come, whereby de­pos­i­tors and share­hold­ers of Jaiz bank de­posited money for shares be­fore the li­cens­ing was in­vested with the CBN in trea­sury bills and other fi­nan­cial in­stru­ments. Now, in­come from that can­not be used by the bank. Even­tu­ally, af­ter the li­cenc­ing of Jaiz Bank, it be­came im­per­a­tive they can­not use that money. All that money will now be chan­nelled through the Foun­da­tion for char­ity and de­vel­op­ment pur­poses to com­ple­ment gov­ern­ment’s ef­fort.

It is uni­ver­sally prac­tised. Any­where in the world, you will find Is­lamic bank­ing, whether in Europe, Asia or Amer­ica. And such non-in­ter­est banks nor­mally have Foun­da­tions.

It is for ev­ery­body. These monies are sup­posed to be used for char­ity and de­vel­op­ment pur­poses for in­ter­ven­tion, es­pe­cially for the poor and un­der­served peo­ple, for eco­nomic em­pow­er­ment, in­ter­ven­tion in health, ed­u­ca­tion and the rest.

Jaiz Bank it­self is rel­a­tively young in ad­min­is­tra­tion, not to talk of the Foun­da­tion which was cre­ated af­ter the bank com­menced op­er­a­tion. So, we are a young in­sti­tu­tion. Still, we have made some im­pact based on the man­date given by the board of trustees of the Foun­da­tion, and based on the strate­gic busi­ness plan drawn up for the Foun­da­tion at its in­cep­tion.

From April 2014 to date, the Foun­da­tion has in­ter­vened in var­i­ous sec­tors, both in terms of ma­te­rial and cash do­na­tions. The to­tal value of our in­ter­ven­tions so far is roughly about N105 mil­lion so far. We have gone into the camps of the In­ter­nally Dis­placed Per­sons in nine states of the fed­er­a­tion. The states are Borno, Adamawa, Taraba, Plateau, Zam­fara, Katsina, Kaduna and Nas­sarawa where we gave about N5 to N6 mil­lion worth of ma­te­ri­als.

Yes, the Foun­da­tion has other sources of sus­tain­ing its op­er­a­tion. When this Foun­da­tion was es­tab­lished, the in­ten­tion was to make it an in­de­pen­dent, non-gov­ern­men­tal, non-profit or­ga­ni­za­tion with its own board of trustees dif­fer­ent from that of the Jaiz Bank board. So, it is op­er­at­ing as a sep­a­rate body. So, apart from those monies com­ing in from Jaiz Bank, we also part­ner with in­ter­na­tional donors, for do­na­tions and with in­di­vid­u­als and cor­po­rate or­gan­i­sa­tions.

Our con­sti­tu­tion al­lows us to make prof­itable in­vest­ments where we can source in­come, but the im­por­tant thing to note is that no­body will ben­e­fit from that kind of in­come from any in­vest­ment as a form of div­i­dend or what­ever, be­cause it is for char­ity. What­ever in­come we get, we use it to sus­tain our op­er­a­tion of Jaiz’ char­ity, for in­ter­ven­tion and for de­vel­op­ment pur­poses. We have a com­pany that is in charge of in­vest­ment func­tions. We also have a com­pany wait­ing for its li­cence from the Na­tional In­sur­ance Com­mis­sion, which would at­tract other in­vestors to en­able the Foun­da­tion earn a rea­son­able in­come to sus­tain its op­er­a­tion. These are the ba­sic sources of in­come that will sus­tain the op­er­a­tion of the Jaiz Foun­da­tion.

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