TAJBank Limited has signed a Memorandum of Understanding with the National Hajj Commission of Nigeria on the Hajj Savings Scheme to support aspiring pilgrims nationwide.
The parley takes place at a time when airfares are surging and potential pilgrims are finding it challenging to cope with the rising costs of pilgrimage.
In a statement on Monday, the non-interest lender said that the development aligned with its ethical banking drive to support worthy causes in Nigeria’s sustainable development.
The PUNCH reports that TAJBank Limited has emerged as the leader in the non-interest banking subsector of the financial sector, as its total assets crossed the N1tn mark to settle at N1.02tn as of the end of the first half of the year.
Speaking on the partnership with NAHCON, the Managing Director/Chief Executive Officer of TAJBank Limited, Mr Hamid Joda, maintained that it would further enable TAJBank to extend the frontiers of its socio-economic interventions to aspiring pilgrims.
He enthused, “Let me say that the MoU with NAHCON on the Hajj Savings Scheme aligns with our mission to support the needy in Nigeria. So, with this deal, TAJBank will explore its strong digital platforms and physical networks in our branches to take the HSS to the grassroots and enable intending pilgrims to access funds at ease for their travels.
“We are going to avail the opportunity created by our partnership with NAHCON to demonstrate to Muslims intending to go on Hajj to consider TAJBank as their preferred choice among other lenders, as we shall be offering them a truly seamless, ethically grounded savings pathway and technologically advanced savings solutions, built on the principles of Islamic finance, to ensure that the pilgrims enjoy a hitch-free Hajj and benefit from our relationship with them on a sustainable basis.”
Speaking during the MoU signing ceremony, the NAHCON Chairman, Professor Saleh Usman, noted that the HSS had created a structured pathway for pilgrims in the country, recalling that in the past, many prospective pilgrims were eager to enrol but limited by inadequate awareness of funding.
According to him, with the collaboration of TAJBank and other non-interest banks on the HSS, the commission will ramp up its sensitisation efforts through Ulama, traditional, and digital media platforms to enlighten the public on the long-term benefits of the scheme.
Usman commended TAJBank and the other banks for collaborating with NAHCON in furtherance of its roles aimed at making Hajj easier for intending pilgrims, assuring that the commission will provide the required platform, guidelines, and regulatory support for the successful implementation of the HSS.
With the signing of the MoU, TAJBank and other non-interest lenders involved in the scheme have now been authorised to deploy their digital and other platforms for the enrolment of intending pilgrims and to invest pilgrims’ deposits in approved Halal ventures for their socioeconomic wellbeing.
