TAJBank Plans N20bn Mudarabah Sukuk Issuance, Aims for N100bn Total

TAJBank Plans N20bn Mudarabah Sukuk Issuance, Aims for N100bn Total

TAJBank, a prominent non-interest financial institution in Nigeria, is preparing to raise N20 billion through Mudarabah Sukuk bonds. This initiative is part of its broader N100 billion Sukuk program, aimed at strengthening its Additional Tier 1 capital and supporting its business expansion. The new issuance follows the bank’s successful N10 billion Sukuk bond listing on the Nigerian Exchange in 2023…………READ MORE

The Mudarabah Sukuk bonds offer a competitive 20.5% annual return and provide an ethical investment opportunity. Investors will participate in the bank’s profit-sharing ventures, furthering TAJBank’s commitment to financial inclusion and innovative financial solutions.

The terms of the Sukuk bond are under final regulatory review, and it will be available to both individual and corporate investors. Investors can access more information on the process via the bank’s website.

Hamid Joda, the Founder and CEO of TAJBank, expressed excitement about the issuance, emphasizing its alignment with ethical financial practices. He noted that this bond, listed on the Nigerian Exchange, offers a unique opportunity for investors to support the bank’s growth while benefiting from its profit-sharing model.