Islamic Lender TAJBank Upgrades to National Banking Licence
TAJBank Limited, Nigeria’s leading non-interest bank, has secured approval for nationwide banking operations from the Central Bank of Nigeria (CBN). The bank’s Managing Director, Mr Hamid Joda, made this known in a statement on Wednesday.
Joda said that the license was coming on the heels of several awards bagged by the bank in its past two years of operations in recognition of its outstanding banking services. According to Joda, it is another feat achieved by the bank to leverage our cutting-edge and impressive products and service delivery scorecards.
“We want to thank the regulatory authorities for issuing a national license as well as the growing number of our customers who are yearning to see us give them the best in non-interest banking services.
“I want to assure them that with the latest approval by the authorities, we will deploy all human and technological resources to their doorsteps and give real meaning to the National Financial Inclusion Strategy (NFIS).
“We will be bringing world class non-interest banking products and services to their doorsteps for growth and prosperity,” he said.
Joda attributed TAJBank’s impressive performances over the past two years to innovativeness in key areas of customer-centric service delivery powered by world-class technologies and solutions.
He said the national license would help in growing the bank’s agency network to 25,000 by 2025, thereby reducing the financial exclusion rate.
The bank’s Executive Director, Mr Sherif Idi, expressed excitement at the license for national operation. Idi said, “we are very excited to achieve this feat, especially when the potential benefits to our customers and the nation’s economy cannot be quantified in socio-economic terms.
” For us, it is a call for more services to millions of Nigerians who are desirous of having access to credit without pain. Let me say it loud, we shall not disappoint them on this expectation.”
TAJBank’s management had last month unveiled plans to launch Nigeria’s first private sector Sukuk valued at N100 billion under a Mudarabah structure.
It marked a historic shift from government-dominated Sukuk offerings to a fully private sector-oriented offering in the Nigerian debt markets. #Islamic Lender TAJBank Upgrades to National Banking Licence