TAJBank partners Asian firm to enhance Nigeria’s access to trade finance

TAJBank Nigeria has signed pact with the Astana International Financial Centre (AIFC), an Asian firm, to promote innovative financial instruments and mechanisms to enhance trade finance and provide comprehensive support to Nigerian exporters.

According to Hamid Joda, Managing Director, of that bank, the partnership will focus on promoting and developing non-interest banking products and services in Nigeria, in line with Islamic financial principles.

“It specifically focuses on promoting and developing non-interest banking products and services in Nigeria, in line with Islamic financial principles. It also aims to streamline and secure the management of export proceeds, particularly for agricultural commodities like cocoa.

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“I assure all our customers and potential ones that TAJBank will continue to do its best to support them with world-class non-interest banking products and services,” Joda said.

The partnership for him, represents another significant milestone in the bank’s ongoing commitment to support Nigerian businesses across the country.

In his remarks, Yernar Zhanadil, director at AIFC, noted that the Islamic market in Kazakhstan, with over eight million users, remains largely untapped.

“We can issue Ijara or Sukuk using Nigeria’s model. It has so much potential. With the Ooni of Ife, Oba Enitan Ogunwusi, involvement and TAJBank, I am even surer of the immense benefits of the MoU for bank customers and the economies of the two countries,” Zhanadil stated.