Welfare Microfinance Bank Ltd is a unit microfinance bank located at 159, Abdulazeez Attah Road, Ilorin, Kwara State Nigeria.

The bank was promoted by Islamic Welfare Foundation (IWF) sequel to the 2011 (1432 A.H) monthly Ramadhan Qur’an Tasfsir session calling on the IWF on the need to have an alternative banking model other than the conventional interest based model. The bank is owned by a number of shareholders among which are the IWF, Al Hidayyah Multi-Purpose Cooperative Union; a group of Non Interest (Islamic Cooperative Societies in Ilorin, Kwara State, Nigeria) and other individuals.

The bank was incorporated on 31st December, 2014, obtained Central Bank of Nigeria (CBN) approval on 31st August, 2015 and commenced operations on 30th September, 2015.