{"id":113066,"date":"2024-02-16T17:51:56","date_gmt":"2024-02-16T17:51:56","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre"},"modified":"2024-02-16T19:17:54","modified_gmt":"2024-02-16T19:17:54","slug":"absa-expands-islamic-banking-footprint-opens-first-la-riba-centre","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre","title":{"rendered":"Absa expands Islamic banking footprint, opens first La Riba centre"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>The Nairobi Securities Exchange-listed lender Absa is looking to tap on the growing Islamic banking in the country with its new flagship La Riba centre.<\/p>\n

This is the second store in a span of two weeks that the lender has opened after venturing into China, in its global footprint expansion<\/p>\n

Whereas this branch will serve all customers in the populous Eastleigh area, it also becomes Absa\u2019s flagship La Riba centre, that will provide Shari\u2019ah banking solutions to the customers.<\/p>\n

Absa Bank Kenya\u2019s Managing Director, Abdi Mohamed, said that the lender will be looking to tap on the thriving businesses in the area.<\/p>\n

\u201cWe have been active in this space but now, we aim to expand our distribution network to meet our current and desired needs of our customers where and how they best prefer. We are therefore proud to continue playing a part in supporting business growth in Eastleigh and, by extension, Nairobi,\u201d said Mohamed.<\/p>\n

As part of the revamped La Riba offering, the bank says it is committed to serving underserved groups and making inter-generational wealth creation accessible.<\/p>\n

To bridge an existing market gap, Absa has introduced Kenya’s first Shariah-compliant structured investment notes.<\/p>\n

These notes are designed for premier clients, providing offshore exposure along with the opportunity to leverage potential upside returns while ensuring capital protection.<\/p>\n

In addition, Absa has introduced unsecured personal lending solutions (Tawarruq), which targets scheme customers working at both County and National governments.<\/p>\n

\u201cWe are uniquely positioned to make a substantive difference while being keen on our governance structures. Towards that end, we have also expanded our Shariah Board membership, reflecting our commitment to embracing diversity,\u201d added Mohamed.<\/p>\n

This new branch and product enhancement will enable customers to access transactional accounts, savings accounts and Mudharabah deposit accounts as well as access to Shari\u2019ah compliant investments, financial advisory among other offerings.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. The Nairobi Securities Exchange-listed lender Absa is looking to tap on the growing Islamic banking in the country with its new flagship La Riba centre. This is the second store in a span of two weeks that the lender has opened after venturing into China, in its global footprint expansion Whereas this […]<\/p>\n","protected":false},"author":84,"featured_media":113065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-113066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nAbsa expands Islamic banking footprint, opens first La Riba centre - kenya<\/title>\n<meta name=\"description\" content=\"The Nairobi Securities Exchange-listed lender Absa is looking to tap on the growing Islamic banking in the country with ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Absa expands Islamic banking footprint, opens first La Riba centre\" \/>\n<meta property=\"og:description\" content=\"The Nairobi Securities Exchange-listed lender Absa is looking to tap on the growing Islamic banking in the country with ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-16T17:51:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-16T19:17:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/02\/sm_1708098155.693459.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Absa expands Islamic banking footprint, opens first La Riba centre\",\"datePublished\":\"2024-02-16T17:51:56+00:00\",\"dateModified\":\"2024-02-16T19:17:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre\"},\"wordCount\":332,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/02\/sm_1708098155.693459.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-expands-islamic-banking-footprint-opens-first-la-riba-centre\",\"name\":\"Absa expands Islamic banking footprint, opens first La Riba centre - 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