TAJBank Limited, Nigeria’s top non-interest bank, has been named the winner of the ‘Islamic Bank of the Year Award’ 2022 by the judges of BusinessDay’s Banks and Other Financial Institutions (BAFI) Awards for the second consecutive year due to the bank’s outstanding performance over the course of the year.

The awards’ organizers noted in a letter to TAJBank management dated October 13, 2022, entitled “Notification of Shortlisting At BusinessDay Banks and Other Financial Institutions’ (BAFI) Awards”:

“It would not be an exaggeration to say that 2022 has been the Year of TAJ when the bank has been setting one record after the other. Having won the Islamic Bank of the Year Award at the 2021 edition of the BAFI Awards, this back-to-back shortlisting would make it a first if TAJBank wins again this year.”

The TAJBank nomination for the 2022 Award was a result of the bank’s financial performance, according to the BAFI Awards’ organizers; also the credit rating upgrade to “Bbb” by Augusto & Co reflecting “the Bank’s good liquidity profile, satisfactory capitalization, improving profitability and a growing franchise in the Islamic banking space”, Issue of National Banking License by the Central Bank of Nigeria; and successful issuance of its N100 billion Series 1 Sukuk programme, amongst others.

The BusinessDay management officially presented TAJBank with the “Islamic Bank of the Year Award” 2022 on November 5 of this year following several days of evaluation of the nominees for this year’s Award. At the impressive ceremony, hundreds of TAJBank customers praised the award as “well deserved.”

Mr. Hamid Joda, managing director and chief executive officer of TAJBank, described the BAFI award given to the bank as: “unequivocal proof that our Board and management, supported by our very resourceful, customer-friendly staff, are on the right track in our sustained drive to re-define non-interest banking in Nigeria, especially in terms of our innovativeness and customer-focused products and services delivery.

“We are excited by the award, which we have won now for the second consecutive year in justly barely less than three years of our operations and we want to assure the regulatory authorities, our stakeholders and customers that we will not relent in our efforts to consistently deliver the best to our customers in services and by so doing, grow our shareholders’ funds and returns on their investments in the years ahead.

“Let me say that this award is earned because our customers, who, are our “only interest” are doing their best to support the bank and we dedicate the award to them and Almighty God that enables us to keep TAJBank growing at all fronts”, he said.

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