The Alternative Bank Expands Presence In Nigeria

The Alternative Bank, the ethical banking subsidiary of Sterling Financial Holdings, has commenced operation in three major cities across the country consisting of Lagos, Abuja, and Kano.

Speaking in Lagos, managing director of The Alternative Bank, Hassan Yusuf, said, “we believe that banking should be a platform for shared prosperity, where everyone benefits. And this explains why we refer to our customers as partners, because we believe we are on a journey of wealth creation where profits are shared, and customers are provided with funds without incurring interest charges.”

While speaking at the launch event in Abuja, executive director of The Alternative Bank, Garba Mohammed, said “The Alternative Bank is here to create wealth-for-all in a sustainable way, by doing things differently and taking a different model to partnering with its customers.”

The Bank said “the launch events featured the presentation of digital products to attendees, designed to bring more people into the formal financial sector with an albeit unconventional approach to e-commerce, investments, assets financing, and renewable energy with solutions such as AltMall for e-commerce, AltInvest for ethical retail investments, AltPower for affordable renewable energy solutions, AltDrive for new and pre-owned vehicle financing, and WasteBanc for the monetization recyclable waste.”

It added that “in recognition of the unique financial needs of individuals and businesses, The Alternative Bank offers personalised financial consultations, tailored solutions, and one-on-one guidance towards ensuring that customers achieve their financial goals.

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“The zero-interest banking principle is dedicated to fostering sustainable practices, responsible investments and financial decisions that contribute to positive social and environmental impacts.

“The Alternative Bank also recently launched an innovation in retail investments with the first AltCoin which affords investors the opportunity to preserve and grow their wealth by investing in gold.”