TAJBank, Nigeria’s leading non-interest financial institution, has signed the completion agreement for the N20 billion second tranche of its N100 billion Mudarabah Sukuk bond programme.
The Founder and Managing Director of TAJBank, Mr. Hamid Joda, made this known in a statement issued on Wednesday in Abuja.
Joda stated that this latest investment initiative, finalized on Tuesday, follows nearly two years after the issuance of the bank’s first-ever N10 billion Sukuk bond on the Nigerian Exchange in 2023.
According to him, the new bond presents another opportunity for both individual and corporate investors to engage in an ethical financial instrument offering a competitive 20.5% annual return.
READ ALSO: TAJBank earns highest credit rating in NIB sector
“Specifically, the new Mudarabah Sukuk bond by TAJBank has obtained all necessary regulatory approvals,” Joda said. “It is designed to provide a stable and ethical investment option through participation in the bank’s profit-sharing ventures.”
He added that this initiative reaffirms TAJBank’s dedication to broadening access to innovative financial solutions and promoting financial inclusion nationwide.
The bond is open to all categories of investors, and Joda emphasized its accessibility, allowing investors to subscribe conveniently from their homes..
TAJBank’s Chairman, Alhaji Tanko Gwamna, described the offer as an opportunity for the public to invest in a product aligned with ethical financial values.
“The N20 billion Sukuk bond on the NGX will enable a broader investor base to partake in our growth and benefit from our profit-sharing model,” Gwamna stated.
He encouraged interested investors to consult their financial advisors or visit www.tajbank.com for more information on the Sukuk and listing process.
Mr. Kayode Fadahunsi, CEO of the lead issuing house, AVA Capital Ltd, expressed excitement over the continued partnership with TAJBank.
“I want to assure investors that, as with the maiden Sukuk bond, TAJBank’s management will exceed expectations with this second issuance,” he said.
NAN
