TAJBank, Nigeria’s non-interest lender, has received approval for the second tranche of its N100 billion Mudarabah Sukuk bond programme, valued at N20 billion.
According to a press statement sent to Nairametrics on Tuesday, the N20 billion Mudarabah Sukuk bond has been granted all necessary regulatory approvals and is designed to provide an ethical investment option for those interested in the bank’s profit-sharing ventures.
The bond, which offers a 20.5% annual return, aims to promote financial inclusion and offer stable returns for investors while adhering to non-interest banking principles.
