Islamic banks in Kenya demand regulatory board

Islamic banks in Kenya demand regulatory board

regulation

Local Shariah-compliant banks have proposed the formation of an independent national board to regulate Islamic banks as well as other conventional banks offering Islamic products. This, they said, will ensure that they operate according to the Islamic principles, says Chief Kadhi Sheikh Hammad Kassim.

Licensed mid last year, Islamic banks now command a market share of 1 per cent and this is projected to reach 10 per cent in the next five years, according to the Gulf Africa Bank CEO Najmul Hassan.

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One response to “Islamic banks in Kenya demand regulatory board

  1. Hi, my name is Tim. Just wanted to say hi to the forum, I been creeping around here for a while now, but tend to participate more. Looking forward to make some new friends. Ciao!

    Tim

    NY, NY

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