3 weeks ago
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TAJBank Limited, the fastest increasing non-interest slope successful Nigeria, has recorded a 185.15 per cent oversubscription complaint connected its latest N20 cardinal Mudarabah Sukuk enslaved offer, indicating its visibility successful the non-interest banking concern market.
The information conscionable released by the concern marketplace authorities connected the show of the enslaved indicated that the indebtedness instrument, with yearly nett complaint astatine 20.5 per cent per annum, recorded N57,029,771 cardinal allotment, representing 185.15 per cent oversubscription and highlighting the increasing capitalist assurance successful the bank.
Speaking connected the show of the bond, TAJBank’s founder/managing director, Hamid Joda, described the N20 cardinal Mudarabah Sukuk enslaved subscription rate, which is the 2nd tranche of the bank’s N100 cardinal Sukuk enslaved programme, arsenic awesome fixed the existent micro and macroeconomic factors successful the economy, which proceed to rob disconnected connected the existent income of Nigerians and different residents successful the country.
He said: “Let maine accidental that this outstanding show of the Sukuk enslaved is simply a wide objection that the slope is enjoying increasing capitalist assurance and this tin lone beryllium attributed to the prime of innovative products and services, worth summation TAJBank is delivering successful the non-interest banking subsector of the banking system, particularly erstwhile analysed wrong the discourse of the existent realities successful the indebtedness instrumentality marketplace today.
“I privation to convey the board, absorption and unit of the bank, the regulatory authorities and the investors for their contributions to the occurrence of the enslaved issuance. I besides guarantee them that TAJBank shall proceed to support their involvement to guarantee a win-win acquisition for each stakeholders arsenic we prolong our thrust to prolong the slope arsenic the starring subordinate successful the nation’s non-interest subsector of the banking system”, helium added.
In his remarks, the bank’s co-founder/executive director, Sherif Idi, enthused: “This concern feat is simply a wide objection of investors’ spot successful TAJBank and we volition proceed to bash our champion to surpass their expectations done world-class products and services. As always, our involvement successful the customers and investors.”
Analysts successful the concern marketplace judge that with the outstanding occurrence of the latest TAJBank’s N20 cardinal Mudarabah Sukuk bond, much investors, businesses and slope customers volition beryllium encouraged to bash concern with the slope for the purposes of exploring the opportunities successful its innovative products and services and bully returns connected their investments.
Since the TAJBank debuted successful the non-interest banking abstraction successful Nigeria astir 5 years ago, it has, done investor-customer centric products and services delivery, been promoting world-class ethical non-interest banking successful enactment with the management’s imaginativeness to alteration the slope into 1 of Nigeria’s archetypal apical 20 banks by twelvemonth 2029.In designation of its committedness to champion practices successful non-interest banking globally,
TAJBank has won respective awards, including the Global Islamic Finance Award (GIFA) 2023 for its ‘Best Sukuk Deal of the Year 2023’. Before then, it had won BusinessDay newspaper’s ‘Islamic Bank of The Year’ awards for 2021, 2022 and 2023 and earlier past clinched the LEADERSHIP Newspapers’ ‘Bank Of The Year Award’ successful 2020, amongst different laurels.
English (US) ·