NAIROBI, Kenya, Aug 20 – Absa Bank Kenya has unveiled La Riba Sultanah, the country’s first Shariah-compliant bank account tailored specifically for women entrepreneurs.
The account seeks to advance financial inclusion by empowering women with tools for savings, investment, and business growth while adhering to ethical and Shariah principles.
La Riba Sultanah provides access to Shariah-compliant personal and business financing, mentorship and coaching, online training, networking events, and business advisory services.
According to the lender, the account also offers market access opportunities locally and internationally, alongside a Shariah-compliant credit card that comes with cashbacks, discounts, health and wellness packages, and education and career advancement benefits.
Absa Bank Kenya’s Chief Financial Officer, Yusuf Omari, said the new product is designed to empower women without compromising their values. He noted that the initiative reflects the bank’s commitment to supporting all segments of the economy through inclusive and innovative financial solutions.
“We are making deliberate efforts to serve women who have historically been excluded from the financial ecosystem and active economic participation due to a lack of tailored solutions,” Omari said.
“Through Sultanah, we are bridging this gap by equipping them with tools for financial management, savings, and investment that align with their faith, values, and ambitions.”
The account was launched during the 2025 Absa Annual Islamic Conference in Nairobi, which brought together scholars, industry leaders, and policymakers to discuss the legal framework for Islamic finance.
The event also marked the formation of the Association of Shariah-Compliant Services Providers of Kenya, a new body tasked with advocacy, research, and shaping policy frameworks for Islamic finance.
According to Absa, La Riba Sultanah complements its existing Islamic banking suite, including La Riba Timiza, Kenya’s first fully mobile Shariah-compliant banking platform, and the Absa La Riba Card.
