The Emir of Zazzau, Ambassador Ahmed Nuhu Bamali, has praised The Alternative Bank (TAB) for its impactful role as a non-interest banking institution, driving economic growth through sustainable practices, responsible investment, and financial decisions.
During the grand inauguration of TAB’s first physical branch in Zaria, Kaduna State, the esteemed traditional ruler delivered a keynote address that underscored the manifold of the non-interest banking institution highlighting its characteristics to include economic inclusivity, risk-sharing, and adherence to the principles of equality and cooperation.
The overarching theme of his address resonated with the potential of ‘Non-Interest Banking: Opportunities and Benefits for the Nigerian Economy’.
Predicting substantial contributions to GDP growth and the support of Micro, Small, and Medium Enterprises (MSMEs), Bamali urged The Alternative Bank to establish an unbreakable bond with the people of Zazzau Emirate.
He envisioned “a new economic era where ethical financial principles harmonize with the cherished values of the emirate, fostering entrepreneurial endeavours and elevating the economic landscape.”
Regional head of North-Central Sales, Products, and Propositions, Umar Umar declared that the bank, commencing with a modest portfolio has rapidly emerged as a leading non-interest banking entity in Nigeria.
Umar highlighted The Alternative Bank’s global reach as a fully digital bank; offering services across Nigeria and beyond through digital channels and acknowledging the enduring partnership with Zaria’s community, expressing confidence in catalysing the bank’s business and benefiting customers in the region through this new branch.
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), stands as the latest entrant into the Nigerian financial services industry. With the opening of the Zaria branch, TAB aims to make a lasting impact in the North-Central region, encompassing Benue, Kogi, Kwara, Nasarawa, Niger, Plateau, and the Federal Capital Territory.
