KCB To Launch Islamic Banking In Kenya

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Kenya Commercial Bank aid financial inclusion, Commercial (KCB) says it has received the approval roll Islamic banking services across the country.

It allows the an opportunity extend the Sharia complaint financial services East Africa’s largest commercial hub. It already Islamic banking services in Tanzania. KCB named its Islamic banking service ‘KCB Sahal Banking’.

KCB CEO, Joshua Oigara in a said the introduction in promote development in the marginalized areas of the country.

has two full-fledged Islamic in Kenya – Gulf African and First Community (FCB).[eap_ad_2]

The lender join commercial lender, Standard Chartered as the latest offerers of the service in Kenya. Earlier this year, the British lender launched its “Saadiq” branded Islamic service to serve about 6 people in the country.

According to the latest census statistics, an estimated 15 percent of Kenya’s population are Muslims. This a considerable large for lenders venturing into this area of banking.

KCB launch the pilot phase across seven branches starting August, clustered within the Northern and Coast counties in Kenya. These areas hosts large settlements of Muslim communities. (Ventures Africa)[eap_ad_3]