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KCB to Launch Sharia Compliant Services

July 29, 2014

KENYA Commercial Bank plans to launch Islamic- based financial services next month after securing regulatory approvals. The regional bank already offers Sharia banking products in Tanzania.

"Islamic banking proposition is part of our financial inclusion agenda that progressively looks at incorporating products and services to reach out to the unbanked population," said KCB group chief executive Joshua Oigara.

The KCB Islamic based banking service is called Sahal and will be first rolled out in branches in areas with a heavy Muslim presence such as Kilindini, Mvita amd Mwembe Tayari in Mombasa, Garissa, Lamu and Eastleigh and Kimathi in Nairobi.

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Source: AllAfrica

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