“TAJBank Targets N100bn Sukuk Issuance with N20bn Mudarabah Bond Launch”
Written by SpringNewsNG Media Limited March 17, 2025
TAJBank, a leading non-interest bank in Nigeria, is set to raise N20 billion through the issuance of Mudarabah Sukuk Bond to strengthen its Additional Tier 1 capital and support its business expansion. This initiative is part of the bank’s N100 billion Sukuk programme.
This new investment opportunity follows the successful issuance of the first-ever N10 billion Sukuk Bond on the Nigerian Exchange in 2023. The Mudarabah Sukuk Bond offers a competitive 20.5% per annum return and is designed as a stable and ethical investment option. It allows investors to participate in TAJBank’s profit-sharing ventures while promoting financial inclusion and innovative financial solutions in Nigeria.
The terms and conditions of the Mudarabah Sukuk issuance are currently undergoing final regulatory assessment and approval. The bond is open to both individual and corporate investors and aims to provide a reliable source of additional income that can be accessed conveniently from home.
During a virtual chat with journalists, the Founder/CEO of TAJBank, Mr. Hamid Joda, expressed excitement about the offering. He stated, “We are excited to bring this Mudarabah Sukuk to the market, offering a compelling investment opportunity that aligns with ethical financial principles. This listing on the NGX will enable a wider range of investors to participate in our growth and benefit from our profit-sharing model.”
TAJBank’s management encourages interested investors to reach out to their financial advisors or visit the bank’s official website at www.tajbank.com for more information on the Sukuk and the listing process.
