Case study: How Jaiz Bank works with its clients and customers to encourage sustainable practices
Jaiz Bank Plc is the leading Non-Interest (Islamic) Financial Institution serving all six geo-political zones in Nigeria, with a comprehensive range of products and services that include Personal Banking, Corporate Banking, Trade Finance, Agricultural Finance, and MSME Banking. Jaiz Bank is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, working with its clients and customers to encourage sustainable practices and enable sustainable economic activities. Tweet This!
This case study is based on the 2022 Principles for Responsible Banking Self Reporting Assessment Template by Jaiz Bank, prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Which Principles for Responsible Banking have been addressed?
The Principles for Responsible Banking addressed in this case are:
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- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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With this case study you will see:
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- How Jaiz Bank proceeded with stakeholder identification and consultation, and
- How Jaiz Bank worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
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Stakeholder identification and consultation
Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.
Jaiz Bank engages in continuous consultation and collaboration with regulatory authorities, such as the CBN on Sustainable Banking Practices, as well as with local communities and internal stakeholders like other financial institutions. This effort ensures that established goals are collectively achieved.
How did Jaiz Bank work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2022 Principles for Responsible Banking Self Reporting Assessment Template Jaiz Bank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
Jaiz Bank has actively engaged and continues to identify opportunities for collaboration with companies and organizations to promote sustainable practices. Partnering and building solid relationships. Some of these include:
- Partnering with the Promotion of Agricultural Finance for Agri-Based Enterprises in Rural Areas – Nigeria Project (AgFin), a GIZ funded initiative. This project seeks to support Small Holder Farmers (SHFs), reduce poverty levels, alleviate hunger, and promote sustainable job creation.
- Collaborating with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), where the Bank served as the fund manager for a Conditional Grant Scheme Program. This program supported vulnerable small business owners and provided joint financing to finance businesses in the MSME sector across more than 10 states in Nigeria.
- Collaboration with the Abuja Enterprise Agency (AEA) in the implementation of the Ncares project. This initiative focuses on facilitating the recovery of Micro and Small Enterprises (MSEs) negatively impacted by the COVID-19 pandemic. The project will also support MSEs through overheads, technology, and co-financing grants.
UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet
With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
FBRH Principles for Responsible Banking (PRB) Assurance:
First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience
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- FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
- FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
- FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.
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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.
References:
This case study is based on published information by Jaiz Bank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
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