TAJBank Set to Issue N20bn Mudarabah Sukuk, Eyes N100bn Programme
TAJBank, Nigeria’s leading non-interest bank, is set to issue a ₦20 billion Mudarabah Sukuk bond as part of its strategy to strengthen its Additional Tier 1 capital and support its business expansion.
The bond issuance is part of the bank’s ₦100 billion Sukuk programme and follows the successful launch of Nigeria’s first-ever ₦10 billion Sukuk bond on the Nigerian Exchange (NGX) in 2023. The latest offering provides individuals and institutions with a unique opportunity to invest in an ethical financial instrument with an attractive 20.5% annual return.
The Mudarabah Sukuk is structured to provide a stable and ethical investment avenue, allowing investors to participate in profit-sharing ventures while reinforcing TAJBank’s commitment to financial inclusion and innovative financial solutions.
According to the bank’s management, the terms and conditions of the Sukuk are undergoing final regulatory approvals and will be accessible to both individual and corporate investors. The initiative aims to offer a convenient and reliable income source, easily accessible online.
Speaking on the upcoming ₦20 billion Sukuk listing on the NGX, TAJBank’s Founder/CEO, Mr. Hamid Joda, expressed excitement about the investment opportunity, stating:
“We are thrilled to bring this Mudarabah Sukuk to the market, providing investors with a compelling ethical investment option. Listing on the NGX will broaden investor participation and enable them to benefit from our profit-sharing model.”
Interested investors are encouraged to consult their financial advisors or visit www.tajbank.com for more details on the Sukuk issuance and listing process.
