Absa Bank Kenya has launched La Riba Sultanah, the country’s first Shariah-compliant bank account tailored specifically for women entrepreneurs. The new product is designed to advance financial inclusion by equipping women with tools for savings, investment, and business growth while ensuring adherence to ethical and Shariah principles. This milestone reflects Absa’s commitment to driving inclusivity in Kenya’s financial sector by providing solutions that meet the diverse needs of women in business.
La Riba Sultanah goes beyond traditional banking by offering access to Shariah-compliant personal and business financing, mentorship, online training, networking events, and business advisory services. It also provides market access opportunities both locally and internationally, ensuring that women entrepreneurs are positioned for growth in competitive markets. The package further includes a Shariah-compliant credit card that comes with cashbacks, discounts, health and wellness benefits, and career advancement opportunities, giving women holistic support beyond financial services.
During the launch at the 2025 Absa Annual Islamic Conference in Nairobi, Absa Bank Kenya’s Chief Financial Officer, Yusuf Omari, emphasized that the initiative was a deliberate step toward addressing the long-standing exclusion of women from the financial ecosystem. He highlighted that La Riba Sultanah equips women with financial management tools that align with their faith and values while supporting their ambitions. The event also marked the formation of the Association of Shariah-Compliant Services Providers of Kenya, which will advocate for policy, research, and growth in Islamic finance.
La Riba Sultanah complements Absa’s existing Islamic banking suite, which includes La Riba Timiza, Kenya’s first fully mobile Shariah-compliant banking platform, and the Absa La Riba Card. By introducing this pioneering account, Absa Bank Kenya has reaffirmed its leadership in Islamic finance and its dedication to supporting women entrepreneurs as key drivers of economic growth. This initiative not only fosters inclusivity but also strengthens the framework for Shariah-compliant financial services in Kenya.
Absa Bank Unveils Shariah-compliant Account for Women Enterpreneurs
