• Tue. Apr 23rd, 2024

Emir of Zazzau Commends The Alternative Bank’s Non-Interest Model For Economic Growth

ByHybrid News

Dec 29, 2023

Ambassador Ahmed Nuhu Bamali, the Emir of Zazzau in Zaria, Kaduna State, extolled the virtues of The Alternative Bank (TAB) as a catalyst for economic growth, emphasizing its role in fostering sustainable practices, responsible investment, and financial decisions.

During the inauguration of TAB’s inaugural physical branch in Zaria, the Emir underscored the manifold advantages of non-interest banking, highlighting economic inclusivity, risk-sharing, and adherence to principles of equality and cooperation as key benefits.

Under the theme ‘Non-Interest Banking: Opportunities and Benefits for the Nigerian Economy,’ the traditional ruler forecasted significant contributions to GDP growth and MSME support. He urged TAB to establish strong ties with the Zazzau Emirate, envisioning a collaborative effort that aligns ethical finance principles with the cherished values of the region.

Umar Umar, Regional Head of North-Central Sales, Products, and Propositions, lauded TAB’s rapid ascent as a leading non-interest banking entity in Nigeria. He expressed confidence in the bank’s partnership with Zaria’s community, emphasizing the benefits it would bring to the region through the newly established branch.

Describing Zaria’s diverse customer base as “Musharrata” (setting out conditions for oneself to do good deeds and avoid bad deeds), Umar highlighted TAB’s global reach as a fully digital bank, catering to customers across Nigeria and beyond through digital channels.

Reflecting on TAB’s journey from a Sterling Bank Limited window to a standalone non-interest bank, Umar emphasized remarkable growth from an initial capital of N500 million to over N50 billion, showcasing unique products within the non-banking sector.

As the ethical banking subsidiary of Sterling Financial Services Holdings Company Plc (Sterling Holdco), TAB aims to leave a lasting impact in the North-Central region, covering Benue, Kogi, Kwara, Nasarawa, Niger, Plateau, and the Federal Capital Territory, with the inauguration of its Zaria branch.

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