TAJ Bank, a non-interest bank operating under Islamic banking principles, first began as a regional bank in 2019. Three years after TAJ Bank was established, it became a national banking institution following the issuance of a National license by the Central Bank of Nigeria. TAJ Bank is making plans to establish at least 50 branches nationwide, however, at this time, there are just a few branches across Nigeria. In this article, we’d list the branches of TAJ Bank in Nigeria. We’d also provide you with additional information about the bank you’d find useful.
This is a list of TAJ Bank branches in Nigeria:
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TAJ Bank Headquarters
Address: Plot 72 Ahmadu Bello Way, Central Business District, Abuja, Federal Capital Territory
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank NASS Office Branch
Address: National Assembly, Abuja, Federal Capital Territory
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank Lagos Branch
Address: No. 7 Alfred Rewane Road, Falomo, Ikoyi, Lagos State
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank Wuse Market Branch
Address: Wuse Market, Wuse, Abuja, Federal Capital Territory
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank Garki Market Branch
Address: Garki Market, Garki, Abuja, Federal Capital Territory
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank Gudu Market Branch
Address:
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank Gudu Market Branch
Address: Gudu Market, Abuja, Federal Capital Territory
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank Kaduna Branch
Address: Lawris Communications Suite, Abdullahi Yaro House, No. 3 Ali Akilu Road, City Centre, Kaduna, Kaduna State
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank Sokoto Branch
Address: No. 8 Kano Road, Sokoto State
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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TAJ Bank Kano Branch
Address: No. 110 Murtala Mohammed Way, Kano, Kano State
Phone Number: 09087937417, 07008252265
Email ID: info@tajbank.com, tajconnect@tajbank.com
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Products and Services of TAJ Bank
TAJ Bank offers a range of products and services tailored to both private individuals and businesses. The bank also offers retail banking and public services. Let’s explore the different products and services customers of TAJ stand to benefit from, depending on their needs. We’d begin by discussing the various solutions tailored towards individuals banking with TAJ Bank.
The private banking products of TAJ Bank available to individuals include Zakat & Waqt, Non-interest Bonds (Sukuk), Partnership Term Deposits (Mudharabah), and Agency Finance (Wakalah). The Agency Finance product is for individuals who wish to earn periodic returns on investments that TAJ Bank invests their funds in. For the Non-interest Bond, also known as Sukuk, customers can use the non-interest financial certificate issued by TAJ Bank to represent portions of their existing or future assets to an investor group. The ROI is then used for the underlying assets and a portion goes to the investors.
The Mudharabah product or Partnership Term Deposit, which is a trustee profit-sharing account, allows customers to entrust TAJ Bank to utilise deposits for its activities without any interference. Then, the customers get to receive profit on those deposits at the expiry of the period. The Zakat & Waqt product is tailored towards Muslim faithful. The bank offers financial advice and assists customers to make donations for religious or charitable purposes, according to their unique needs.
TAJ Bank also offers several solutions aimed at helping businesses. TAJ Bank’s business banking products include Cost Plus (Murabahah) Working Capital, Cost Plus Import Finance (Murabahah), Construction/Manufacturing Finance (Istisna) and Bonds & Guarantees (Kafalah). Additional products in TAJ Bank’s business banking solutions include Agency (Wakalah) Letter of Credit and Partnership (Musharakah). Under the Partnership (Musharakah) arrangement, customers can finance their short, medium or long-term funding needs for their businesses. The bank may finance customers’ businesses with secured contracts and guaranteed payments, hence the partnership between customers and TAJ Bank.
Businessmen (or women) who engage in importation can opt for Cost Plus (Murabahah) Import Finance product of TAJ Bank for the purchase of raw materials, finished goods, and other consumables from local or international markets. Under this arrangement, TAJ Bank would issue a Letter of Credit (LC) to the exporter on behalf of the customer. This means the bank would first buy the goods on the order of the customer, and then sell it to the customer with a profit margin on a deferred payment basis.
Customers of TAJ Bank whose businesses are in the manufacturing, construction and development industries can enjoy the Construction/Manufacturing (Istisna) Finance product for their businesses. Under this arrangement, customers can ask TAJ Bank to facilitate the construction, manufacturing or development of a project. After the bank might have hired a third party (contractor) to carry out the project, the completed project would be delivered to TAJ Bank or the customers with the authorization of the bank. The bank sells the delivered project to the customer at the cost of carrying out the project plus the profit margin. The customer may decide to make the payment in full or opt for the progressive payment option which makes payment throughout the life of the project possible.
TAJ Bank customers whose businesses involve purchasing raw materials within Nigeria can rely on Cost Plus (Murabaha) Working Capital to finance the purchase of those goods. Under this arrangement, the customer acts as a TAJ Bank’s agent to source the goods they need and obtain a performa invoice in the name of the bank. This means TAJ Bank would purchase the goods from the supplier, while the customer receives them. The customer would be expected to make payments back to the bank at an agreed date, either in full or in installments.
The other products offered to customers we couldn’t discuss in this article are discussed on TAJ Bank’s official website.
- People in TAJ Bank
This is the list of the members of the Board of Directors of TAJ Bank and their respective positions:
- Alhaji Tanko Isiaku Gwamna – Chairman
- Hamid Joda – Founder/Managing Director/CEO
- Sherif Idi – Co-founder/Executive Director/ECO
- Ahmed Joda – Non-executive Director
- Mallam Lawal Garba – Non-executive Director
- Mariam Ibrahim – Non-executive Director
- Habib Alkali – Non-executive Director
- Charles Ebienang – Non-executive Director
- Kogis Jonathan Luka – Non-executive Director
- Tata Shakarau Omar – Independent Non-executive Director
- Adekunle James – Independent Non-executive Director