HomeAnalysisJaiz bank sells forex to SMEs

Jaiz bank sells forex to SMEs

Jaiz Bank Plc 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.

The bank noted that “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 falcrum for economic growth and development.”

The bank, in a statement on Thursday, said: “that the foreign exchange transactions is also available to parents to pay their medical bills, and their children’s school fees.”

It will also sell forex for Personal Travel Allowances (PTA) and Business Travel Allowances (BTA) amongst others.

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).”

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