A new body, the Association of Shariah Compliant Services Providers of Kenya, was launched on the sidelines of the 2025 Absa Annual Islamic Conference in Nairobi. The association aims to advocate for and demystify Islamic finance as a viable alternative for financial inclusion.
The two day conference brought together scholars, industry leaders, and policymakers to deliberate on the legal framework for Islamic finance in Kenya. The launch of the new association was a key highlight of the event. It is designed to play a crucial role in lobbying for policies and fostering a better understanding of Islamic finance principles.
In addition to its advocacy work, the association plans to focus on research and data collection to provide evidence-based insights. This will help inform policymaking and contribute to the development of responsive regulatory frameworks. By generating reliable data, the association hopes to bridge the gap between Islamic financial principles and the country’s existing legal and economic systems, ultimately promoting its wider adoption.
Absa Bank Kenya launched a new Shariah compliant account for women at the conference. Dubbed the La Riba Sultanah account, it is designed to help customers manage finances effortlessly, grow their savings while aligning to their values. Additionally, customers can access diverse Shariah compliant personal and business financing, mentorship and networking, and markets through business clubs and partner conferences