At the prestigious AICIF 2025, held at Eko Hotels in Lagos, The Alternative Bank received the Innovative Bank of the Year award, celebrating its commitment to transformative, inclusive financial services rooted in non-interest banking principles The Punch.
Originally launched as a division of Sterling Bank in 2014, The Alternative Bank became a fully licensed independent entity in 2023, and has since emerged as a visionary force in Nigeria’s financial ecosystem conferences.leadership.ng.
Why the bank stood out
Ethical banking foundation: Built on non-interest finance principles, promoting transparency and fairness
Tech-forward approach: Leveraging digital tools to expand access and improve customer experience
Inclusive innovation: Designing products that serve underserved communities and align with Islamic finance values
Pan-African ambition: Expanding its footprint across the continent with a focus on sustainable development
Executive Director Korede Demola-Adeniyi said, “This award affirms what we’ve always believed—that innovation and integrity can coexist at the heart of banking.”
The AICIF awards spotlight institutions that demonstrate excellence in advancing Islamic finance, and The Alternative Bank’s win signals growing recognition of ethical fintech models in Africa.
Sources:
The Punch
Leadership Conferences
