ISLAMIC BANKING - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Ruto unveils Sharia-compliant financing for Affordable Housing Programme

Sacco ReviewAugust 5, 202604 mins

President William Ruto said the Affordable Housing Programme now offers Sharia compliant financing, allowing Muslim Kenyans to buy homes without interest. Ruto said the option was introduced under the Affordable Housing Act, 2024, to make the programme more inclusive and address low uptake among Muslims. The President said affordable housing projects are being rolled out…

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Kenya cements position as Islamic Banking hub in East, Central Africa

Sacco ReviewSeptember 21, 2023September 21, 202303 mins

The existence of Gulf Africa Bank, Dubai Bank and First Community Bank as fully fledged Islamic Banks has cemented Kenya’s position as a hub for Islamic banking in East and Central Africa. The position is further cemented by the existence of Islamic products in conventional banks and Saccos. Abdi Hussein, Gulf Bank Garissa Branch Deputy…