August 9, 2022



CBN points nationwide licence to TAJBANK

TAJ Financial institution Restricted, Nigeria’s main non-interest financial institution, has secured the approval for nationwide banking operations from the Central Financial institution of Nigeria (CBN).

The license is approaching the heels of a number of awards bagged by the financial institution up to now two years of operations in recognition of its excellent banking providers, together with three Worldwide Requirements Group (ISO) certifications for its dedication to buyer security assurance, service excellence and enterprise operations resilience prioritization.

Talking on the nationwide licence issued to the financial institution by the apex financial institution throughout a media chat on Wednesday in Abuja, the financial institution’s Managing Director/CEO, Mr. Hamid Joda, described it “as one other feat achieved by the Financial institution to leverage on our cutting-edge and spectacular merchandise and repair supply scorecards and by so doing, make TAJBank the popular selection in non-interest banking operations on the grassroots within the nation.

“We need to thank the regulatory authorities for issuing a nationwide license in addition to the rising variety of our prospects who’re craving to see us give them the very best in non-interest banking providers, particularly on the grassroots and all through the nation.

“I need to guarantee them that with the newest approval by the authorities, we are going to deploy all human and technological assets to their doorsteps and provides actual that means to the Nationwide Monetary Inclusion Technique (NFIS) by bringing world class non-interest banking services to their door steps for development and prosperity”, Joda assured.

The CEO mentioned the nationwide license would assist in rising the financial institution’s company community to 25,000 by 2025, thereby decreasing the monetary exclusion charge.

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TAJBank’s administration had final month unveiled plans to launch Nigeria’s first non-public sector Sukuk providing below a N100 billion programme below a Mudarabah construction, thereby marking a historic shift from government-dominated Sukuk choices to a completely non-public sector-oriented providing within the Nigerian debt markets.
Commenting on the nationwide licence issuance to the non-interest lender, the financial institution’s Government Director, Mr. Sherif Idi mentioned: “We’re very excited to attain this feat, particularly when the potential advantages to our prospects and the nation’s financial system can’t be quantified in socio-economic phrases. For us, it’s a name for extra providers to thousands and thousands of Nigerians, who’re desirous of gaining access to credit score with out pains. Let me say it loud, we will not disappoint them on this expectation.”