Bank
Absa Bank is set to open more branches in northern Kenya to improve Shariah compliance services to Muslim communities in five Counties in ASAL regions.
According to the Absa Bank Director of Custom networking, Mr. Peter Mutua, the financial institution is currently in process of opening a Bank in Marsabit and Moyale by next year. Mr. Mutua who was speaking in Isiolo town said that the Wajir Branch will be opened in November 2024, bringing to six the banks opened in the last four months.
He added that 480,000 customers were banking with ABSA on Shariah compliance and many are doing business with the Bank, where Islamic rules are followed not only for Muslim communities, but for others who need those services. Mr. Mutua was accompanied by Absa Head of Islamic Bank, Mr. Tego Walansa. He said the Bank finances 95 percent business that had been partnering with the Bank, adding their loans are payable in 92 months on profit sharing.
The Networking Director said that his Bank would give 100 percent to customers purchasing vehicles less than Sh. 3 million. He urged pastoralist communities to join the Bank since it favors them according to the Islamic culture and added that it is the only branch the area people trust, since it opened its doors in 1954.
Mr. Walansa said that the Bank gives friendly services to its customers and challenged citizens that they should have trust since it is the only Bank that gave them services during shifta menace.