The Central Bank of Nigeria (CBN) has given a national license to TAJBank Limited, to operate and carry out nationwide banking in the country.
TAJBank Limited operates under Islamic banking principles and is the second non-interest bank established in Nigeria, headquartered in Abuja.
The bank in the past two years of operations has bagged several awards including three International Standards Organisation (ISO) certifications.
Hamid Joda, Managing Director/CEO of TajBank said the national license would help in growing the bank’s agency network to 25,000 by 2025, thereby reducing the financial exclusion rate.
He described it as another feat as the bank has impressive products and services making it a preferred choice in non-interest banking operations.
He said, “I want to assure them (CBN) 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) by bringing world-class non-interest banking products and services to their doorsteps for growth and prosperity.”
TAJBank’s management had in June unveiled plans to launch Nigeria’s first private sector Sukuk offering under a N100 billion program under a Mudarabah structure, thereby marking a historic shift from government-dominated Sukuk offerings to a fully private sector-oriented offering in the Nigerian debt markets.
