Emir of Zazzau extols benefits of non-interest bank

Emir of Zazzau in Zaria, Kaduna State, Ambassador Ahmed Nuhu Bamali has extolled the benefits of The Alternative Bank (TAB) as a non-interest banking institution which propels economic growth through sustainable practices, responsible investment and financial decisions.

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In a keynote address during the inauguration of TAB’s first physical branch in Zaria, Kaduna State, the traditional ruler highlighted the manifold advantages of the non-interest banking institution to, “include economic inclusivity, risk-sharing, and adherence to the principles of equality and cooperation.”

The theme of his address was ‘Non-Interest Banking: Opportunities and Benefits for the Nigerian Economy.’
Predicting significant contributions to GDP growth and MSME support, Bamali urged, “The Alternative Bank to forge an unbreakable bond with the people of Zazzau Emirate.”

He envisioned “a new era of economic growth, where ethical finance principles align with the values cherished by the emirate, fostering entrepreneurial endeavours and uplifting the economic landscape.”

Also speaking, Umar Umar, Regional Head of North-Central Sales, Products, and Propositions, declared that the bank, commencing with a modest portfolio, has rapidly emerged as a leading non-interest banking entity in Nigeria.

Acknowledging the enduring partnership with Zaria’s community, Umar expressed confidence in catalysing the bank’s business and benefiting customers in
the region through the new branch.

Describing Zaria’s diverse customer base as “Musharrata,” (is setting out conditions by a person for himself to do good deeds and avoid bad deeds) Umar underscored The Alternative Bank’s global reach as a fully digital bank, offering services across Nigeria and beyond through digital channels.

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

TAB, the ethical banking subsidiary of Sterling Financial Services Holdings Company Plc (Sterling Holdco) is the latest entrant into the Nigerian financial services industry.

With the opening of the Zaria branch, TAB is seeking to make a lasting impact in the North-Central region, encompassing Benue, Kogi, Kwara, Nasarawa, Niger, Plateau, and the Federal Capital Territory.