Nigeria’s interest-free banking institution, TAJBank Limited, has obtained approval for domestic banking operations from the Central Bank of Nigeria (CBN).
The license follows several awards given by the bank over the past two years of business in recognition of its exceptional banking services, including three certifications from the International Organization for Standardization (ISO) for its commitment to ensuring customer safety, service excellence and business operations resilience prioritization.
Speaking on the nationwide license issued to the bank by Apex Bank during a Wednesday media chat in Abuja, the bank’s Managing Director/CEO, Hamid Joda, described it “as another feat achieved by the Bank to leverage our cutting-edge technology and impressive products and service delivery dashboards and in doing so, make TAJBank the preferred choice for grassroots interest-free banking in the country.
“We would like to thank the regulators for issuing a national license as well as the growing number of our customers who yearn to see us provide them with the best in interest-free banking, especially locally and across the country. .
“I want to assure them that with the latest approval from the authorities, we will deploy all the human and technological resources to their doorsteps and give real meaning to the National Strategy for Financial Inclusion (SNIF) by bringing banking products and services without world-class interest on their doorstep for growth and prosperity,” Joda assured.
Attributing TAJBank’s impressive performance over the past two years to innovation in key areas of customer-centric service delivery powered by world-class technologies and solutions, human resource capacity building and growing confidence from shareholders and customers, the CEO said the national license would help grow the bank’s branch network to 25,000 by 2025, reducing the rate of financial exclusion.
It is worth recalling that TAJBank management unveiled plans last month to launch Nigeria’s first private sector Sukuk offering under a N100 billion program under a Mudarabah structure, marking thus a historic shift from government-dominated Sukuk offerings to fully private-sector oriented offering in the Nigerian debt markets.
Commenting on the issuance of the national license to the interest-free lender, the bank’s Executive Director, Sherif Idi, enthused: “We are very pleased to achieve this feat, especially when the potential benefits for our customers and the economy national level cannot be quantified in socio-economic terms. economic terms. For us, it is a call for more services to millions of Nigerians, eager to have access to credit without difficulty. Let me say it loud and clear, we won’t let them down on that expectation.