“Can a Shariah-compliant non-interest bank scale to become a leading ethical financial institution in Africa?”
TAJBank is a Nigerian non-interest (Islamic / ethical) bank founded in 2019, licensed by the Central Bank of Nigeria. It operates on Shariah-compliant principles — Murabaha (cost-plus), Ijarah (lease), Istisna (manufacture) financing — rather than interest-based lending. It is a chartered bank, not a fintech or BaaS platform: it self-operates its banking infrastructure and is regulated in Nigeria only.
TAJBank Ltd. discloses TAJBank Limited (in-house) as its banking provider, according to the Embedded Finance Index 2026.
TAJBank Ltd. does not disclose a bank charter of its own; its banking services are provided through TAJBank Limited (in-house).
TAJBank Ltd.'s cards are issued through TAJBank Limited (in-house) on the Verve network.
TAJBank Ltd.'s lending and capital products are provided by TAJBank Limited (in-house).
The Embedded Finance Index 2026 maps 4 layers in TAJBank Ltd.'s stack: Banking / BaaS (TAJBank Limited (in-house)); Card issuing (TAJBank Limited (in-house)); Card network (Verve); Lending (TAJBank Limited (in-house), Cost Plus (Murabaha) Working Capital, Murabaha for Traders (MFT), Import Finance (Murabaha) and 2 others).
TAJBank Ltd. is founded in 2019 and headquartered in Abuja, Nigeria.
TAJBank Ltd. has raised $26.5M in total (latest round: Debt Financing, 2025-10-01 ($13.6M)).
Get a read on where your own stack stands against TAJBank Ltd. and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.