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Kenya: Lack of relevant laws constrains growth in Islamic finance sector

Posted on 18 April 2011

With Islamic banking and insurance gaining ground in the country, there are calls for new legislation by banking and insurance regulators to enable the companies to invest in Sharia-compliant securities.

Two banks – Gulf African and First Community – are operating fully pursuant to Sharia-compliant banking principles, although up to five other commercial banks are also offering Sharia-compliant banking products alongside conventional products………………………………………Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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