Jaiz Bank is proposing a new loan program offering financing to Small and Medium-sized Enterprises (SMEs) and retail customers without requiring traditional collateral. The bank is currently awaiting approval from the Central Bank of Nigeria (CBN) to implement the initiative. This move is intended to expand financial inclusion by providing access to credit for businesses and individuals who may lack assets to secure loans. If approved, the program could significantly benefit Nigeria’s SME sector, a key driver of economic growth. The bank believes removing the collateral requirement will encourage more borrowing and investment. Details regarding loan amounts, interest rates, and eligibility criteria have not yet been released, pending CBN approval. The initiative reflects a broader industry trend towards innovative lending practices.