Sharia-compliant financing is rapidly growing in Kenya, offering ethical, asset-based credit solutions to SMEs traditionally underserved by mainstream lenders. Almasi Financial Services Ltd is a leader in this sector, focusing on Islamic finance principles for businesses in transport and construction.

• Almasi Financial Services Ltd, founded in 2021, uses the Islamic leasing structure of Ijara wa Iqtina, prohibiting interest-based transactions and not charging early settlement fees or late payment penalties unless directed to charity.
• The Sharia-compliant finance sector in Kenya holds approximately 2% of total banking assets, with around 608,000 Islamic banking accounts and net assets exceeding KSh 92 billion as of 2024.
• Studies show significant business growth for SMEs accessing Islamic finance, with a growth coefficient of 0.66 for women-owned SMEs in Garissa, and nearly 300% SME expansion under Islamic microfinance frameworks in Eastleigh between 2007 and 2013.