"Gulf African Bank Expands Presence with New Eastleigh Branch at BBS Mall"
By Patel Okumu |
Gulf African Bank, a Shariah-compliant lender, has inaugurated its main branch in Eastleigh's Business Bay Square (BBS) Mall, strategically targeting the bustling commercial and residential area.
Gulf African Bank, a Shariah-compliant lender, has inaugurated its main branch in Eastleigh's Business Bay Square (BBS) Mall, strategically targeting the bustling commercial and residential area. This move follows NCBA Bank's recent branch opening at the same location.
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Mr. Anuj Mediratta, Managing Director of Gulf African Bank, emphasized the bank's commitment to enhancing customer convenience and accessibility. Recognizing the area's financial liquidity, the bank has tailored solutions for streamlined cash collection, disbursement, and reporting.
The newly opened branch boasts digital infrastructure, including a cash deposit machine, enabling customers to perform transactions independently.
Established in 2008, Gulf African Bank adheres to Shariah principles, avoiding interest on loans. Instead, it operates on the basis of risk-sharing, distributing profits and losses according to mutually agreed ratios with borrowers. The bank also prioritizes ethical and sustainable ventures, abstaining from financing speculative activities or prohibited sectors like alcohol production.
Mr. Mediratta highlighted the bank's comprehensive suite of financial and non-financial solutions designed for small and medium-sized enterprises (SMEs) across various sectors, including wholesalers, supermarkets, general stores, and real estate, aligning with its commitment to ethical and sustainable financing.
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