Jaiz Bank Plc, a non-interest bank, on Thursday said it had started selling foreign exchange to operators of the Small and Medium Enterprises in a bid to open up businesses and boost the country’s economy amidst COVID-19.
The bank explained in a statement that the foreign exchange transactions would also be available for parents who wished to pay their children’s school fees and medical bills.
The bank is also making foreign exchange available for Personal Travel Allowances and Business Travel Allowances, amongst others.
The statement explained that the SMEs could get up to $20,000 per quarter for importation.
However, the bank stressed that items to be imported must not fall under the prohibited list as directed by the Central Bank of Nigeria.
“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,” the statement added.