alt bank Named Nigeria’s Islamic Bank of the Year 2026
alt bank has been named Nigeria’s Islamic Bank of the Year 2026 at the 14th edition of the Global Brands Awards, in recognition of its contributions to ethical finance, financial inclusion and non-interest banking.
According to a press release issued by the bank, the award followed an evaluation of innovation, industry impact, customer engagement and contributions to the financial services sector, including its Sharia-compliant products and efforts to expand access to alternative financial services.
The recognition comes amid growing interest in non-interest banking as an alternative financing model for individuals, households, businesses and productive sectors of the Nigerian economy.
Alt bank offers financial solutions spanning personal banking, education financing, pilgrimage savings and business support. Its expanding branch network is also aimed at improving access to non-interest banking services across the country.
Its Hajj Savings Account provides intending pilgrims with a structured option for saving towards their pilgrimage, while its education initiatives combine financial support with learning and capacity development.
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Through AltInstitute, its free digital learning platform, the bank promotes knowledge of non-interest banking and ethical finance. Its education interventions also include teacher training, support for the Adolescent Girls Initiative for Learning and Empowerment (AGILE) in Sokoto State, and education financing through EduFund.
The bank said its support for the AGILE initiative reached 21,726 adolescent girls across 10 local government areas in Sokoto State. EduFund, meanwhile, helps parents, guardians and students meet education-related expenses.
For businesses, the bank provides procurement and supply-chain services through SupplyHub, including financing for suppliers with qualifying purchase orders. The solutions are designed to help enterprises manage transactions, fulfil orders and pursue growth opportunities.
The bank also said these initiatives reflect its broader approach to extending non-interest banking beyond conventional financial transactions to address practical needs across education, enterprise development and household finances.
The award places Alt bank among the institutions recognised in the Banking and Finance category of the 2026 Global Brands Awards. The bank said the recognition had been published in the awards’ official winners’ listing.
Alt bank added that it would continue to expand access to financial solutions for individuals and businesses while supporting economic activities that create sustainable value.
Alt bank began operations in January 2014 as a non-interest banking window within Sterling Bank. In July 2023, the Central Bank of Nigeria granted it a banking licence to operate as a standalone bank.
