The Alternative Bank (AltBank) has been crowned ‘Most Innovative Bank of the Year’ at the 7th African International Conference on Islamic Finance (AICIF) 2025, a recognition that reinforces its rising influence in Africa’s fast-growing non-interest financial ecosystem.
The prestigious award was presented at Eko Hotels, Lagos, where financial experts, policymakers, and industry leaders gathered to celebrate transformative achievements in Islamic finance across the continent.
AICIF, now in its seventh edition, remains one of Africa’s leading platforms for knowledge exchange, policy dialogue, and professional excellence within the sphere of non-interest banking. Its yearly awards honour institutions and individuals who exhibit outstanding innovation, integrity, and leadership in advancing ethical, interest-free financial systems.
Speaking on the recognition, Korede Demola-Adeniyi, Executive Director (South), The Alternative Bank, said the award validates the institution’s mission to blend innovation with ethical financial principles.
“This award affirms what we’ve always believed — that innovation and integrity can coexist at the heart of banking. It reflects the trust our clients place in us and our shared vision of a more sustainable and inclusive future.”
The Chairman of the AICIF Award Panel, Professor AbdulRazzaq Alaro, expressed pride in the rigorous, transparent selection process that produced this year’s winners, noting that AltBank stood out for its bold strides in deepening access to interest-free finance across Nigeria and the wider continent.
“The AICIF awards are a special way of recognising exceptional innovation and dedication by individuals and organisations advancing Islamic finance across Africa,” he stated.
Since its beginnings as a non-interest banking window in 2014 and its full transition into a licensed bank in 2023, The Alternative Bank has consistently challenged traditional banking models. Today, it is widely regarded as a digital-first, customer-centric institution shaping the future of ethical finance in Nigeria.
AltBank’s groundbreaking offerings — including its AltElite premium banking suite, wealth-building products anchored in non-interest principles, and a unique gold-backed rewards system — continue to set new standards in the industry. Its fusion of proprietary digital tools with ethical financial structures has made it a preferred choice for a new generation of customers seeking transparency, value, and trust.
With this latest recognition, The Alternative Bank reaffirms its commitment to pioneering bold, inclusive solutions aimed at empowering individuals, businesses, and communities across Africa. The Bank says it remains focused on reshaping the continent’s banking experience through innovation anchored in integrity.
Discover more from Ameh News
Subscribe to get the latest posts sent to your email.
