Accept payments seamlessly with our mPOS, POS, and mobile app.
Here’s How:
Feature/Benefit | mPOS | Android POS |
Comprehensive Transactions | Basic transactions, limited banking functionalities | Integrates banking functionalities like ATMs |
Increased Customer Convenience | Portable, enhancing customer service | One-stop solution for multiple services |
Streamlined Operations | Quick setup, mobile for faster service | Efficient in retail/service environments, minimizing wait times |
Enhanced Security | Basic security features, device-dependent | Advanced security features (encryption, biometric options) |
Integration with Loyalty Programs | Supports loyalty programs, limited integration | Robust integration with loyalty and rewards programs |
Advanced Reporting and Analytics | Basic sales tracking, limited analytics | Detailed analytics and reporting tools for insights |
Flexibility in Payment Options | Accepts various forms (cards, mobile wallets), limited advanced features | Wide variety of payment methods, including contactless |
Regulatory Compliance | Dependent on mobile payment solution | Designed for banking compliance and secure transactions |
Customer Relationship Management | Unlimited CRM capabilities focused on sales | Extensive CRM features for personalized interactions |
Wakeel agency banking refers to banking services that comply with Sharia law, providing financial solutions without interest (riba) and promote ethical investment practices.
Our service connects customers with a network of agents who facilitate banking transactions, including deposits, withdrawals, and transfers, all in line with Islamic finance principles.
Our services include instant settlement, fast and reliable POS terminals, and access to business advances up to 1 million naira for eligible customers.
Yes, we provide POS terminals that are free for merchants. These terminals are designed for speed and reliability, enhancing the payment experience for customers.
We offer instant settlement for transactions, ensuring that funds are transferred quickly and efficiently.
Eligible businesses can access advances of up to 1 million naira, providing financial support to help grow your business.
Interested individuals can apply to become agents by meeting our criteria, which include a commitment to ethical banking practices and customer service.
We provide comprehensive training, marketing support, and access to our banking infrastructure to ensure agents can serve their customers effectively.
No
You can contact our customer service team or Area network managers for more information about our services and how to get started
Copyright © 2024, The Alternative Bank.
Licensed by the Central Bank of Nigeria 
The Alternative Bank is an independent financial organization in the Non-interest Banking (NIB) sector. If you receive services from, or if you have any other questions, please reach out to us via any of our contact channels. Registered address: 239 Ikorodu Road, Lagos. Financial operations on the Alternative Bank is authorised and regulated by the Central Bank of Nigeria. License to commence operations was granted in 2014. Trading and investment products provided by the Alternative Bank is wholly owned.
We are dedicated to ensuring adherence to Non-Interest Banking principles through the appointment of an Advisory Committee of Experts (ACE). The ACE is tasked with the review and approval of all our products and processes after ensuring full compliance with NIB principles.
Find the perfect app version for your device by choosing your OS below. You will be redirected to your app store.
Abubakar Muhammad Musa is currently a Sharia Advisor and Consultant for SHAPE Knowledge Services a consulting firm based in Kuwait. He has been involved in product development, Sharia research and approval of Islamic banking products for different clients. His work covers retail banking, corporate banking and project finance deals.
Formerly, Abubakar worked as a Researcher in different units at International Shariah Research Academy for Islamic Finance (ISRA) in Kuala Lumpur, Malaysia. Besides his primary assignments in ISRA, he taught Shariah Rules in Financial Transactions to Chartered Islamic Finance Professional (CIFP) Masters online Students of International Centre for Education in Islamic Finance (INCEIF), Malaysia. He also taught MBA and BBA Students different Islamic Banking and Finance Subjects at University College of Bahrain.
Abubakar holds two Diplomas with distinction, one in Islamic Law and the other in Arabic Language from Al-Imam University Riyadh. He also holds LLB (Hons) degree in Shariah from the same University. He successfully completed his (CIFP) Professional Masters Degree Programme at (INCEIF), Malaysia. He had his internship program on Islamic Banking & Finance at Fajr Capital in Kuala Lumpur. During the programme, Abubakar conducted research relating to product structuring and market development.
Abdurraheem Ahmad Sayi is a legal practitioner and Consultant of over 16 years of active legal practice. He is currently the principal partner, A.A. Sayi & Co. (Qist Chambers) and Qadi, Independent Shari’ah Panel of Lagos State – a platform, through which he has delivered several judgments of in-depth analysis, widely applauded by leading legal and intellectual icons, including learned Judges, professors of law and Islamic Studies.
He is the Executive Director/C.E.O., ClearPath Islamic Centre (Incorporated), Lekki-Lagos and Chief Imam, SilverPoint Central Mosque, Badore, Ajah-Lagos. Fondly called Imam Sayi, Abdurraheem is the designate Chairman, Shari’ah Advisory Committee, Mutual Benefit Takaaful.
Imam Sayi has also authored a few works, some of which include: The Financial Obligations: a compendium of essays on monetary or material obligations under Islamic Law and Waqf (Charity Endowment): The Governing Principles.
He holds a Certificate on Improving Personal Effectiveness from the Lagos Business School (Pan African University) and he is a recipient of numerous awards and certificates of merits.
Education:
Master of Arts Law and Diplomacy, The Fletcher School of Law & Diplomacy.
Bachelor of Arts Arabic & Islamic Studies, The University of Chicago.
Shariah Board Experience:
Bank Muscat Meethaq (2013 – 2017)
Sterling Bank Nigeria (Since 2013)
University Bank, USA (Since 2006)
Abdulkader Thomas has over 35 years of diversified financial services experience in major markets. With a Master of Arts Law and Diplomacy from The Fletcher School of Law & Diplomacy and a BA in Arabic & Islamic Studies from The University of Chicago. His areas of activity have included trade finance, real estate finance, securities and alternative finance.
As the general manager of a foreign bank branch in New York, he secured the first US regulatory approvals of Islamic mortgage and instalment credit/sale as banking instruments. Later, he secured US regulatory approval for profit sharing deposits. Abdulkader has been involved in the successful implementation of these products in the US market. With more than 17years Shariah Board Experience in Bank Muscat Meethaq, Sterling Bank Nigeria and University Bank USA, Abdulkader has worked on IFTA projects in Europe, Africa, Southeast Asia, and an authority on Islamic deal structures and securities.
He also serves as a director of Alkhabeer Capital in Jeddah and Chairman of Alkhabeer (DIFC). He is a member of the international advisory board of the Securities Commission of Malaysia, a published author, and an active speaker on Islamic finance.
