Video: Kenya launches Islamic finance association to unlock growth in Sharia-compliant banking

Video: Kenya launches Islamic finance association to unlock growth in Sharia-compliant banking
  • By The Eastleigh Voice

Kenya has taken a bold step toward streamlining the Islamic finance ecosystem with the official launch of the Association of Shari’ah Compliant Service Providers of Kenya. Spearheaded by Absa Bank, the newly formed umbrella body aims to bridge critical regulatory and operational gaps in the country’s Islamic finance landscape. Notably, the sector has steadily grown over the past two decades but remains hindered by fragmented legal frameworks and limited awareness. “Over the last 20 years we have had Islamic Banking, which was pioneered by Absa. However, despite making a lot of strides forward, we've had huge gaps,” said Tego Wolasa, head of Islamic Banking at Absa Bank Kenya. Read More: https://shorturl.at/GOq2r

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