AltBank Wins ‘Innovative Bank of the Year’ for Advancing Inclusive, Non-Interest Financial Solutions

The Alternative Bank (AltBank) has been recognised as the Innovative Bank of the Year at the 7th African International Conference on Islamic Finance (AICIF), a testament to its leadership in delivering transformative, inclusive, and technology-driven non-interest banking solutions across Africa.

The award, presented in Lagos, celebrates institutions that demonstrate exceptional commitment to advancing ethical, interest-free finance on the continent. AICIF, known as a leading forum for thought leadership in African finance, honours organisations promoting transparency, innovation, and sustainable financial practices.

Speaking on the recognition, Executive Director (South) of AltBank, Korede Demola-Adeniyi, expressed pride in the bank’s mission and impact.
“This award affirms what we’ve always believed that innovation and integrity can coexist at the heart of banking,” she said. “It reflects the trust our clients place in us and our shared vision for a more sustainable and inclusive future.”

Chairman of the AICIF Award Panel, Professor AbdulRazzaq Alaro, highlighted the credibility of the process and applauded the awardees for championing accessible, non-interest finance that supports economic empowerment across the continent.

AltBank continues to distinguish itself in Nigeria’s financial sector by merging non-interest banking principles with modern digital innovation. Originally launched as a non-interest window in 2014 and licensed as a standalone bank in 2023, it has rapidly evolved into a market leader.

Through offerings such as the AltElite premium banking suite and a pioneering gold-based rewards system, the bank is redefining what ethical and digital-first banking looks like for today’s customers.

With a commitment to empowering individuals and businesses through ethical financing, AltBank says it will continue to develop forward-thinking solutions that shape the future of banking in Africa.