NAIROBI, Kenya-Islamic banking in Kenya has received a significant boost following Absa Bank Kenya’s launch of two innovative Shariah-compliant financial solutions – La Riba Timiza and the La Riba Card.
The move will enhance access to ethical and inclusive banking for Muslim and non-Muslim customers who value interest-free financial services aligned with Islamic principles.
La Riba Timiza becomes the country’s first fully Shariah-compliant mobile banking platform by a Tier 1 bank, while the La Riba Card provides a flexible, riba-free payment option for everyday use.
Accessible through the Timiza app or via *848#, La Riba Timiza offers customers a seamless way to make payments, save with purpose, and access instant short-term financing;all within the bounds of Islamic finance.
Meanwhile, the La Riba Card allows users to enjoy discounts, cashback, airport lounge access, and flexible repayment options, without compromising their values.
Speaking during the launch, Absa Bank Kenya Managing Director and CEO Abdi Mohamed reaffirmed the bank’s commitment to financial inclusion.
“These solutions are designed to support customers on their growth journeys by offering accessible, ethical banking grounded in Islamic values.”
Built on the Murabaha principle, which prohibits interest-based transactions, the new offerings were developed with guidance from Absa’s independent Shariah Board.
The launch follows other strides by the bank in Shariah-compliant finance, including the La Riba Centre in Eastleigh and Kenya’s first structured Islamic investment notes.
The lender says its latest move reflects a growing shift toward values-led innovation in Kenya’s banking landscape.
