Sun Trust Bank signs MoU with ICD on non-interest banking

Sun Trust Bank Nigeria Limited (SBN) has signed an agreement with the Islamic Corporation for the Development of the Private Sector (ICD) to establish a new non-interest banking window in the bank.
ICD is the private arm of Islamic Development Bank Group (IDBG).
Mr. Muhammad Jibrin, Managing Director/Chief Executive Officer of SBN, said in a statement in Lagos that the agreement was signed in Jeddah, Saudi Arabia.
The statement said that SBN and ICD are determined to collaborate to facilitate information and expertise exchange that incorporates non-interest banking products and services in Nigeria.
Jibrin said the bank would have maximum benefits from the collaboration. “We realise the many benefits of our close collaboration. By establishing the new window, we will diversify our banking offer and will attract investors not only from Nigeria but also from the IDBG member countries and we consider ICD as our strategic partner in those countries,” he said.

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Sun Trust Bank signs MoU with ICD on non-interest banking

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