Evaluation of non-interest banking and financial inclusion in Nigeria

Abstract

businesses especially, Micro, Small and Medium Enterprises (MSME) intending to be efficient and effective in their operations as well as giving smoother access to financing when compared to the conventional banks. This paper therefore attempts to evaluate the prospects of a non-interest bank in Nigeria (Jaiz Bank Plc) in terms of financial inclusion, access to financial products and the trajectory of the bank itself in terms of performance and going concern tests. Using primary data analyses, our findings establish high level of acceptability of non-interest banking in Nigeria and secondary data analyses signal the financial soundness of Jaiz bank to give existing and prospective investors’ the needed comfort. We recommended that economic units in developing economies, private companies and individuals should tap into the vast bouquet of Islamic banking products offered on flexible terms in achieving their broad objectives