Non-interest bank, TAJBank, has emerged as the “Islamic bank of the year” in the recently held Banks and Other Financial Institutions Awards (BAFI) 2021 organised by BusinessDay Newspapers.

This is coming two months after the bank clinched the Leadership Newspapers 2020 Bank of The Year award.

The management of BusinessDay Newspaper, in a letter, stated that TAJBank was honoured with the award based on its innovativeness in products packaging and customer-friendly services.

The letter stated: “When it commenced operations in 2019, TAJBank took the banking sector by storm.

“Its revolutionary agency banking model, suite of innovative retail products, depth of business banking, expertise, and world-class private banking service resonated with customers.

“TAJBank’s knowledgeable, courteous staff, excellent technology platform and inclusive corporate culture have won plaudits across the northern states, where it operates.”

The newspaper revealed that its analysts and Research and Intelligence Unit (BRIU) project that the Islamic banking sector in Nigeria will grow by 15 per cent yearly from 2021-2026.

At its current growth rate, BRIU analysts project that TAJBank could capture as much as 65 per cent of that market growth once it secures a national banking licence,” it added.

Meanwhile, the Founder and Chief Operating Officer of TAJBank, Mr Hamid Joda, described the award as evidence that the bank was on the right track in its sustained drive to redefine non-interest banking in Nigeria.

Joda cited innovativeness and customer-focused products and services as a strong attraction for the bank.

“We are honoured by the award and we want to assure the regulatory authorities, our stakeholders and customers that we will not relent in our efforts to consistently offer the best to our customers.

“We will continue to grow our shareholders’ funds, returns on their investments and more importantly, expand the frontiers of our operations so that more Nigerians can benefit from quality products and services nationwide.

“I want to say that the award is dedicated to our customers, who, as we say, are our only interest,” he added.

According to TAJBank’s Chief Marketing Officer and Co-Founder, Mr. Sheriff Idi, the award is highly valued by our board and management since we did not lobby for it.

“The newspaper’s management has said that the quality of our products and banking services, professionalism and inclusive corporate culture made TAJBank to win the award.

“We cannot afford to relent in our efforts to continue to offer the best to our customers”, Idi assured.

The BAFI awards were created nine years ago, to recognise and celebrate organisations, teams and individuals that are achieving excellence in the delivery of financial services.