What is Islamic banking? Islamic banking entails banking activities that are compliant with Shariah. Also known as Islamic finance, it encompasses financial activities, particularly in the banking world, which adhere to Islamic law. This article is about the advantages of Islamic banking for business growth. Tenets of Islamic Banking The religious system forbids the payment […]
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Commercial banks in Nigeria (Deposit Money Banks) operate under seven different categories of banking licences issued by the Central Bank of Nigeria (CBN). They are: Commercial banking licence with international authorization Commercial banking licence with national authorization Commercial banking licence with regional authorization Non-interest banking licence with national authorization Merchant banking licence with national authorization
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What Is Dollar Debit Card? A dollar debit card is a debit card that carries out transactions in US Dollars. It operates like the Naira Debit card, the major difference is that it’s denominated in USD or whatever foreign currencies’ transactions it’s designed to perform. Some banks in Nigeria have Pound Debit Card, which means
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Domiciliary Account allows individuals, businesses and corporate organisations to receive and make payments in foreign currencies. The Central Bank of Nigeria (CBN) frowns at using such accounts for illicit activities. So, what are the benefits of having a domiciliary account in Nigeria? As such the apex bank issued a circular on the domiciliary account and
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There are 955 Microfinance banks in Nigeria, the Nigeria’s apex bank licences them and are also insured by the Nigerian Deposit Insurance Corporation (NDIC). They are: Check the list of commercial banks, merchant, mobile money operators, and other organizations that provide financial-related service.
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There are three major ways to fund your opay account, but without an agent, you should be able to top up your account with an agent: After downloading the App from Google Play Store if you use an Android Phone, fund your account either using your ATM card, and bank app thus: Via your bank
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If you bank with the United Bank for Africa (UBA), you would need its sort codes to receive online transfers from another country. NOTE: The Swift code of UBA is UNAFNGLA. You can check the swift codes of all Nigerian banks in one of our articles. The branches have been divided into headings that vividly indicate
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Do you know that you can change the phone number and email attached to your GTBank now to Guaranty Trust Holding Company PLC (GTCO) right on your phone? You can do this in two major ways: Through internet banking Via ATM For those who looking for how to get the PTA paid directly pay to
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Financial institutions have codes which are used to identify banks and their branches. Here is the comprehensive list of sort codes for Guaranty Trust Bank across Nigeria. Note: Guaranty Trust Bank Swift Code is GTBINGLA. With the combination of your bank’s swift code and sort code, you can receive international payments successfully. Below are the
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You would need an 8-digit or 11-digit letter associated with your bank and its branch to receive or send money from abroad. It is called a SWIFT code. A sender would ask you for it. While the swift codes of other banks in Nigeria are 8-digit e.g GTBINGLA for Guaranty Trust Bank or GTB in Nigeria (now Guaranty Trust Holding
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