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Islamic finance continues to evolve in East Africa

Posted on 13 December 2011

The launch of Tanzania’s first Islamic bank, Amana Bank, is the latest development in East Africa’s emerging Islamic finance industry.
Amana Bank, Tanzania’s first fully Shari’ah-compliant bank, was launched on 24 November in Dar es Salaam; the latest of a long line of developments for Islamic finance in East Africa. Chairman of the Board of Directors for Amana Bank, Haroon Pirmohamed, said that the bank is the result of a need for an alternative to a conventional banking system that provides ethical and fair modes of banking for all………………………………………..Full Article: Source

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