The Managing Director/CEO of Jaiz Bank, Haruna Musa, has bagged a Ph.D in Islamic Finance and Banking from Universiti Utara Malaysia, UMM, at the 37th Convocation ceremony of the university.
A thoroughbred banker, Mr Musa has 27 years of cognate experience in banking across Nigeria and Africa.
The thesis, titled “Determinants of Financial Inclusion in North-Western Nigeria: A Mediating Effect of Islamic Finance Products Adoption”, received accolades from the supervisors.
“During his PhD program at Universiti Utara Malaysia (UUM), Haruna Musa enrolled in an academic writing class where he was first introduced to the principles of Islamic banking. This pivotal moment reshaped his career trajectory, prompting him to pivot from over 26 years of experience in conventional banking to join Nigeria’s first Islamic bank,” his supervisor, Prof. Nor Hayati Binti Ahmad, said.
“For three years, while pursuing his PhD in Islamic banking under the guidance of two former bankers at the Islamic Business School (IBS), Haruna deepened his understanding of the ethical and financial advantages of Islamic banking compared to conventional models. This realization drove his decision to transition from his role as Executive Director at GTBank, one of Nigeria’s largest conventional banks, to Jaiz Bank Plc, the country’s pioneer in Islamic banking. Since 2012, Jaiz Bank has been offering ethical banking services to individuals, corporate bodies, and government entities.
“Remarkably, Haruna Musa completed his PhD in just 3½ years while simultaneously serving as the Executive Director of GTBank and later as the Managing Director and CEO of Jaiz Bank.
“Congratulations, Dr. Haruna Musa, on this significant achievement and your graduation today!”
About Dr Haruna Musa
Haruna Musa was appointed Managing Director/CEO of Jaiz Bank Plc on the 21st of November 2023. He is a seasoned banker with over 27 years of cognate experience in banking across Nigeria and Africa. He is an alumnus of Ahmadu Bello University, Zaria, Bayero University, Kano, and Cranfield University, United Kingdom. He now capped it with a Ph.D in Islamic Banking and Finance at the Universiti Utara in Malaysia.
At the Cranfield University, Haruna obtained an MSc. in Finance and Management (2008 – 2009). He received a Master’s Degree in Business Administration from Bayero University, Kano (1997 – 1998); a Post Graduate Diploma in Management earlier from the same University (1994 – 1995), while he holds a Bachelor of Agriculture from Ahmadu Bello University, Zaria, (1987 – 1991).
Haruna undertook extensive executive-level courses including Advanced Management Program from Wharton Business School, University of Pennsylvania, USA (2023); Making Corporate Boards More Effective – Harvard Business School, Harvard University, USA (2015); Positive Leadership Program – Michigan Ross Executive Education, USA (2014); General Management Program – Cranfield University, UK (2012). He is also an honourary member of the Chartered Institute of Bankers of Nigeria (CIBN).
Until his appointment as the substantive MD/CEO of Jaiz Bank Plc, he served as Executive Director with GT Bank for eight years, and garnered 22 years out of his 27 years’ wealth of banking experience working for Guaranty Trust Bank Holding Company (GTCO) from March 2001– October 2023.
He commenced his banking profession as Banking Officer at United Bank for Africa Plc from June 1997 – December 1998 and served as a Senior Banking Officer at the FSB International Bank Plc between December 1998 and March 2001. Earlier, he worked at the Federal Ministry of Agriculture, Abuja, as Agricultural officer II from January 1993 – June 1997.
