TAJBank, ICD seal pact on capital projects’ financing in Nigeria

Written by on June 14, 2022

TAJBank Limited, Nigeria’s leading non-interest bank, has signed a Memorandum of Understanding (MoU) with the Islamic Corporation for the Development of private sector (ICD).

According to a statement by Hamid Joda, Managing Director of TAJBank, the MoU is aimed at attracting funding for major infrastructural projects in Nigeria.

The News Agency of Nigeria (NAN) reports that ICD is a member of the Islamic Development Bank (IsDB) Group,

According to the managing director, the MOU represents a convergence of will between both entities.

He said that it would build a relationship between the Nigerian bank and the international organisation to explore avenues of financing key capital projects in the Country.

TAJBank, a leading non-interest bank in the country, commenced operations about two years ago.

The non-interest banking services provider had a few days ago unveiled plans to launch a private sector targeted N100 billion Sukuk programme under a Mudaraba structure.

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