Absa Bank launches Shariah-compliant account for women entrepreneurs
La Riba Sultanah provides access to Shariah-compliant personal and business financing, mentorship and coaching, online training, networking events, and business advisory services. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Absa Bank Kenya has introduced La Riba Sultanah, the nation's inaugural Shariah-compliant bank account exclusively for women entrepreneurs. This initiative aims to foster financial inclusion by offering savings, investment, and business growth tools aligned with ethical and Shariah principles.
- La Riba Sultanah offers access to Shariah-compliant personal and business financing, mentorship, online training, and market access opportunities.
- Yusuf Omari, Chief Financial Officer at Absa Bank Kenya, stated the product empowers women without compromising their values.
- The account was launched during the 2025 Absa Annual Islamic Conference in Nairobi, which also saw the formation of the Association of Shariah-Compliant Services Providers of Kenya.
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Absa Bank, Old Mutual, and Lauritz Knudsen Launch New Initiatives in Kenya - August 2025
Several companies have recently launched new operations and products in Kenya. Lauritz Knudsen Electrical & Automation, a global leader from India, launched its first African operations, selecting Kenya as a strategic gateway to the continent to meet demand for smart electrical infrastructure. In the financial sector, Absa Bank Kenya introduced La Riba Sultanah, the nation's inaugural Shariah-compliant bank account exclusively for women entrepreneurs. This initiative aims to foster financial inclusion by offering tools for savings, investment, and business growth. Additionally, Old Mutual, in partnership with the Kenya Boda Boda Association and others, has launched the Boda Riders Super Cover, a new insurance solution providing financial support for hospitalization and last expense benefits.
