The Emir of Kano, Alhaji Aminu Ado Bayero, has given his support to Nigeria’s largest ethical bank, The Alternative Bank, as it opens its first branch in the ancient city.

At the launch event, the Emir praised the bank for its potential to bring about significant changes in the lives of individuals and businesses in the state. He emphasized the bank’s transformative impact on the financial landscape of Kano and highlighted the importance of financial institutions in shaping society. The Emir also commended The Alternative Bank for its commitment to ethics, transparency, and sustainable economic development.

He emphasized that the bank goes beyond the pursuit of profits, standing as a symbol of a greater responsibility. Similarly, the Emir emphasized that The Alternative Bank remains committed to ideals that go beyond mere financial gain, and urged the community to support the bank’s dedication to ethical banking. Additionally, during the launch of the bank’s branch, Garba Mohammed, the Executive Director of The Alternative Bank, described the institution as being rooted in ethical practices. Mohammed expressed his pride in being part of the event that marked the beginning of the bank’s operations, which he believed would greatly benefit the community. He further emphasized that the bank’s investment decisions comply with the highest ethical standards and that its approach of sharing profits with customers sets it apart, emphasizing a shared prosperity model.

The Executive Director said, “The Alternative Bank aspires to be a force for positive change, channelling resources into projects that uplift communities, empower individuals, and contribute to the greater good. Our dedication to responsible and sustainable banking ensures a focus on long-term prosperity while minimising adverse effects on the environment and society.”

He further explained, “Experts opine that this system of banking is the best alternative to conventional banking, considering the challenges faced by other banks, which are absent in ethical banking.”

Furthermore, he emphasized that the bank’s appeal is not limited to any particular religious group as it offers advantages that make business operations easier. Mohammed urged the community to accept and support the bank, adhering to Islamic teachings on the banking system. Originally known as Sterling Bank Alternative Finance when it was founded in 2014, The Alternative Bank has acquired a license from the Central Bank of Nigeria to function as a non-interest banking institution. Over time, it has grown to become a prominent participant in Nigeria’s non-interest banking industry.

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