Jaiz Bank boosts small and medium enterprises through forex
Jaiz Bank Plc, the premier non-interest bank in Nigeria has resumed selling of foreign exchange to operators of Small and Middle Enterprises (SMEs) to open up businesses and boost the nation’s economy amidst the COVID-19 pandemic.
In a statement, Jaiz bank said that the foreign exchange transactions are also available to parents to pay their children’s school fees and medical bills. Other areas include Personal Travel Allowances (PTA) and Business Travel Allowances (BTA) amongst others.
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According to the bank, SMEs importers can get up to $20,000 per quarter. However, items of importation must not fall under those prohibited, as directed by the Central Bank of Nigeria (CBN).
The statement read: “While the pandemic is being fought with lockdown and economies are opening up,
“..we are committed to providing services that would encourage small and medium-sized businesses because we strongly believe they are the fulcrum for economic growth and development.”
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