TAJBank has launched a branch in Kaduna state to provide effective service delivery and to support micro, small and medium enterprises in the state, being the second non-interest bank in the country with head office in the central business district of Abuja.
After waiting for years before its establishment in Abuja, Kano and Kaduna state, the bank, according to the co- founder/ Chief Marketing Officer, Sherif Idi is to close the gap in the non-interest banking space.
Since its establishment, TAJ Bank has introduced different non-interest savings products like the Murabaha savings, card savings account and Mudharabah term deposit.
Part of its policies is that whatever interest the bank makes at the end of the month, it is shared with account holders. And it’s quite encouraging because it is not based on a fixed percentage of interest on savings. The interest at the end of the month is based on whatever is generated at the end of the month.
TAJBank is setting the pace for innovative, technology-driven and people oriented non-interest banking in Nigeria, with the mission to boost the means of livelihood of the people across board.
The projection of the bank is to have additional branches within the first quarter of 2021 with the approval of Central Bank of Nigeria (CBN), with the aim to go national soon.
The Chairman of the bank, Tanko Isiaku Gwamna noted that the bank is fulfilling its mission of making seamless banking solutions accessible to all businesses.
Gwamna disclosed this during the opening ceremony of the technology-powered branch, where he also added that the priority of the bank is to improve business operations for profitability and socio-economic well being through interest-free loans and unparalleled quality service delivery.