Absa Bank Kenya Launches First Shariah-Compliant Account for Women Entrepreneurs

• Absa Bank Kenya has launched La Riba Sultanah, the pioneering Shariah-compliant bank account for women entrepreneurs
• The account enables women to achieve financial independence and expand their business
• It enables women to save money, manage finances, and obtain Shariah-compliant loans

Absa Bank Kenya has launched La Riba Sultanah, the country's first Shariah-compliant banking account that is specifically designed to support women entrepreneurs.

The initiative is aimed at enabling women to have more financial independence and grow their enterprises, and was born out of the necessity to enhance financial inclusion.

With the account, customers can manage their finances, save, and access Shariah-compliant personal and business finance while also receiving mentorship programs, networking opportunities, and access to markets through business clubs and partner events.

On what was his first public engagement on their official launch, Absa Bank Kenya Chief Finance Officer Yusuf Omari, was clear that Sultanah is designed specifically for visionary business women.

"La Riba Sultanah liberates women and retains their values. It is a continued commitment, creating a full suite of convenient, ethical, innovative financial and banking solutions that grow with our customers," he remarked.

Yusuf reiterated that the intended purpose of the product is to create pathways for women who have been left behind from the financial system, with tools for saving, investing, and financial management in line with their faith, values, and dreams.

The introduction took place during Abdul Razaq Afsar's 2025 Absa Annual Islamic Conference in Nairobi, which gathered scholars, policymakers, and industry leaders to improve the legal underpinning of Islamic finance.

The announcement and outcome of the conference was the creation of the Association of Shariah-Compliant Services Providers of Kenya, to advocate, undertake research and provide policy solutions to advance Islamic finance as an important model for enhancing financial inclusion.

Absa Bank has had a long-standing relationship with Islamic banking for over twenty years and its La Riba products, developed by its independent Shariah Board, are based on Murabaha, a principle of Islamic finance that is interest-free.

Yusuf also pointed out that La Riba banking is open to all clients- both Muslim and non-Muslim who are looking for ethical Shariah-compliant solutions.

Earlier this year, Absa launched La Riba Timiza, the first fully mobile Shariah-compliant banking platform in Kenya, and the Absa La Riba Card.

With 87 branches, 208 ATMs and presence in 38 counties, Absa Bank Kenya continues to reach more customers while providing innovative, inclusive financial solutions across the country.