The Central Bank of Nigeria (CBN) has granted approval for the operations of another bank. Named TAJ Bank, the approval was granted in a CBN letter dated July 17, 2019 with reference number FPR/CON/TAJ/02/018.
The letter titled FINAL APPROVAL TO OPERATE A NON INTEREST (ISLAMIC) BANK WITH REGIONAL AUTHORIZATION was addressed to The Managing Director, Taj Bank Limited, 50 Ebitu Ukiwe Street, Jabi, Abuja.
The letter read in part that “We refer to your application for a regional non interest banking licence and write to convey the Central Bank of Nigeria approval in respect thereof. TAJ BANK LIMITED by the authorization, is to operate in North West and North East geo-political zones of Nigeria.
TAJ Bank Limited will be the second full fledged Islamic Bank in Nigeria, the first being JAIZ Bank, granted licence on 11 November, 2011.
Alhmdulillah Another chance for we Muslims to join the teams of Muslim organisation thank u god for making it possible
Allahu Akbar, may the Almighty Allah ease the affairs of this bank and see it through a successful win-win operation.
Please let’s know when the advert is out for senior level positions in this bank. We are readily available to promote the affairs of the bank to succeed Insha Allahu.
Alihamdulilai. For DAT,dey sud try to operate on strictly in Islamic perspective….. Allah will use it and other to save Nigerian… Barakalau fihi…
Alihamudulilahi for this wonderful opportunity that CBN grant for us in Nigeria, God will the elbow of Nigeria CBN to be able to do more
Alhamdulillah for another choice for the Muslim that CBN grants us another bank thank you very much Masha Allah
TAJ is welcomed. Its establishment is a welcomed development to Nigeria’s non-interest (Islamic) finance industry. The Nigeria’s non-interest finance industry has come at a better time when the world is searching for alternative against the menace of capitalism and other vices of the conventional financial system. Nigeria as well as several major economies of the world are getting a boost from the Islamic finance alternative. With TAJ, the Nigeria’s Islamic finance industry is evidently growing and contributing to the country’s socio-economic well-being. The CBN leads the way for the establishment of the industry, the banking aspect in particular. More is however needed in terms of governance and regulations for the smooth operations of the industry in accordance with the Islamic financial jurisprudence (which it professes), and for the safety of the industry against impending several risks. So, other relevant regulators are required to come up with the needed and/or rather appropriate, regulatory mechanisms to support the development of the industry into mainstream finance and to sustain it for the benefit of all in the country.
The impacts of Islam shall be felt by all and sundry.Realising the advantages:it Chase’s real practising Muslims off interest or usury(riba), borrowing without sorrowing is achieved,entrpreneural skills will improve,more jobs will be created and it shall definitely reduce socio-vices and criminalities;most importantly, congratulations to farmers in Nigeria.الحد لله علي نعمة الاسلام وفضل الله علي المسلمين والذين معهم
I feel proud at the evident expansion of the non-interest banking industry in Nigeria.
Masha allah ,it hase began ,others are following insha allah☝️