Kenya eyes share of Sh780 trillion Shariah-compliant finance market.[Courtesy]
Kenya’s financial sector is positioning itself to secure a share of the rapidly expanding $6 trillion (Sh780 trillion) global Islamic finance market, as policymakers and industry stakeholders push for legislative reforms to tap into the sector’s largely unrealised potential within the country.
Industry leaders have emphasised the need to overhaul the existing legal framework in order to attract increased capital investment and strengthen the range of Shariah-compliant financial products available locally.