Jaiz Bank Plc has unveiled plans to process foreign exchange transactions for Bureau de Change operators from next month.

By this move, the bank, which is the first full-fledged non-interest bank in the country, will now join other commercial banks in processing foreign exchange transactions.

A statement issued by the Head, Corporate Communications Department of the bank, Mr. Idris Salihu, said the bank had also commenced over the counter transactions at all its branches.

The bank obtained a regional operating licence to operate as a non-interest bank from the Central Bank of Nigeria on November 11, 2011 and began full operations in January, 2012 with three branches in Abuja, Kaduna and Kano.

It has since expanded its network of branches to 10 with additional branches in Gombe, Maiduguri, Katsina, Abuja and Kano, according to the bank.

The statement also said the capital base of the bank had grown from N5bn when it started operations last year to about N10bn.

This, it said, would enable the bank to apply for the National Banking licence from the Central Bank of Nigerian and thus position it to operate in all the states of the federation.

Source: Punch