TAJBank Limited, Nigeria’s largest non-interest bank by asset size, has entered into a Memorandum of Understanding (MoU) with the National Hajj Commission of Nigeria (NAHCON) to strengthen the Hajj Savings Scheme (HSS). The partnership underscores the bank’s commitment to ethical banking and supporting initiatives that promote sustainable development in the country.
Speaking during a virtual media chat over the weekend, TAJBank’s Managing Director/CEO, Hamid Joda, explained that the agreement will empower the bank to broaden its socio-economic support to Muslims planning to perform Hajj. With rising airfare and increased travel costs, he noted, many prospective pilgrims face financial constraints—making the scheme more important than ever.
Joda emphasized that the collaboration aligns with TAJBank’s mission of uplifting vulnerable groups. He added that the bank will leverage its extensive digital platforms and branch network to bring the savings scheme closer to communities and make it easier for intending pilgrims to save for the pilgrimage.
He assured that TAJBank will offer a seamless, technology-driven, and Shariah-compliant savings experience, encouraging Muslims to choose the bank as their preferred non-interest financial partner for Hajj preparations.
During the signing ceremony, NAHCON Chairman, Prof. Abdullahi Saleh Usman, highlighted the significance of the HSS in creating an organized and reliable pathway for Nigerians planning to perform Hajj. He noted that many potential pilgrims in the past lacked adequate awareness and access to structured funding options.
Usman stated that NAHCON will intensify public sensitization through religious leaders, traditional media, and digital channels to raise awareness about the long-term benefits of the scheme. He applauded TAJBank and other participating non-interest banks for their collaboration and reaffirmed the commission’s commitment to providing the necessary regulatory support for the HSS.
Following the MoU, TAJBank and other approved non-interest financial institutions are authorized to enroll intending pilgrims and invest their contributions in Shariah-compliant ventures to enhance the pilgrims’ economic wellbeing.
