CBN grants final approval to another Islamic Bank

By Shola Abayomi.

The Central Bank of Nigeria (CBN) has approved the operation of another Islamic bank, TAJ Bank Limited, headquartered in Abuja.

INSIDER obtained a copy of the approval letter, dated July 12, 2019 from a reliable source.

In a letter addressed to the Managing Director of TAJ Bank Limited, titled, “FINAL APPROVAL TO OPERATE AS A NON-INTEREST (ISLAMIC) BANK WITH REGIONAL AUTHORIZATION”, the CBN wrote:

“We refer to your application for a regional non-interest banking licence and write to convey the Central Bank of Nigeria approval in respect thereof.

“TAJ BANK LIMITED by the authorization, is to operate in North West and North East geo-political zones of Nigeria.”

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