TAJBank Limited, is Nigeria's second Non-interest
bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
, operating under
Islamic banking
Islamic banking, Islamic finance ( ''masrifiyya 'islamia''), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some ...
principles, established in Nigeria with its headquarters in
Abuja
Abuja (; , ) is the capital city of the Federal Republic of Nigeria, strategically situated at the geographic midpoint of the country within the Federal Capital Territory (Nigeria), Federal Capital Territory (FCT). As the seat of the Federal G ...
, the
capital city
A capital city, or just capital, is the municipality holding primary status in a country, state (polity), state, province, department (administrative division), department, or other administrative division, subnational division, usually as its ...
of the country.
The Bank operates 45 branches, 5 cash centers and provides regular ATM services as well as Online, Mobile, USSD (*898#) and SMS banking services.
History
The institution was founded in 2019, as TAJBank Limited. On 3 July 2019, TAJBank received a license from the
Central Bank of Nigeria
The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are t ...
, the national banking regulator, to operate as a regional bank. On 2 December 2019, the institution commenced business as TAJBank Limited in offices and branches in
Abuja
Abuja (; , ) is the capital city of the Federal Republic of Nigeria, strategically situated at the geographic midpoint of the country within the Federal Capital Territory (Nigeria), Federal Capital Territory (FCT). As the seat of the Federal G ...
.
On 12 December 2019, TAJBank opened its second branch at Kano in the process of expanding to other urban centers in the
Federal Republic of Nigeria
Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of Guinea in the Atlantic Ocean to the south. It covers an area of . With Demographics of Nigeria, ...
. TAJBank recorded its early success in August 2022 culminating in the issuance of a National License by the Central Bank of Nigeria.
The Bank also opened a branch in Sokoto State on the 24th of August 2020. TAJBank has over 38(Thirty-eight) branches nationwide.
On February 14, 2023 TAJBank listed its N10billion Mudarabah Sukuk issuance at the Nigerian Exchange Limited (NGX)
Ownership
The Board of Directors of the bank are listed below.
See also
*
Interest-free economy
An interest-free economy or interest free economy is an economy that does not have pure interest rates.
An interest free economy may use either barter, credit, or money as its medium of exchange.
Historically, there has been a taboo against usury ...
*
List of banks in Nigeria
This is a list of commercial banks and other credit institutions with in Nigeria, as updated late 2024 by the Central Bank of Nigeria.
List of commercial banks
Development Finance Institutions
* Bank of Agriculture
* Bank of Industry
* Dev ...
References
{{reflist
Banks of Nigeria
Economy of Abuja