Absa Bank Kenya opened a new branch at BBS Mall, Nairobi, focusing on Islamic banking services.
Absa Bank’s “flagship La Riba centre” aims to cater to the underserved segment seeking Sharia-compliant financial solutions.
The outlet will offer transactional savings, Mudharabah deposit accounts, Sharia-compliant investments, and financial advisory services.
In addition, Absa Bank has introduced Kenya’s first Shariah-compliant structured investment notes designed for premier clients.
The expansion aligns with Absa’s strategy to become a “people’s champion” by understanding and meeting evolving customer needs.
Through this branch and in line with our inclusion commitment, all our customers regardless of their faith and beliefs will be able to access various solutions, including transactional and savings accounts, aimed at facilitating Shari’ah-compliant investments. #AbsaIslamicBanking pic.twitter.com/lmcoSWYSQ1
— Absa Bank Kenya (@AbsaKenya) February 15, 2024
“As Absa, we are uniquely positioned to make a substantive difference while being keen on our governance structures. Towards that end, we have also expanded our Shariah Board membership, reflecting our commitment to embracing diversity,” Absa Bank Kenya’s Managing Director, Abdi Mohamed, said during the launch.
“This independent board now represents a wide range of oversight, perspectives, and expertise, allowing us to better understand our customers and meet their diverse needs responsibly,” added Mr. Mohamed.
