NAIROBI, Kenya– Muslim women entrepreneurs in Kenya are set to benefit following Absa Bank Kenya’s launch of La Riba Sultanah, the country’s first Shariah-compliant bank account specifically designed for women.
The initiative seeks to deepen financial inclusion by providing women with access to ethical banking services that support savings, investment, and business expansion while adhering to Islamic principles.
According to Absa,La Riba Sultanah addresses the long-standing barriers that have limited women’s participation in the formal financial system.
The account enables users to access Shariah-compliant credit solutions, allowing entrepreneurs to grow their businesses without engaging in interest-based transactions.
In addition to financial products, account holders gain access to mentorship programs, networking events, business coaching, and opportunities for local and international market exposure, equipping Muslim women with the skills and connections needed to expand their enterprises.
The account also includes a Shariah-compliant credit card that offers cashbacks, discounts, health and wellness packages, and education and career advancement programs.
By combining financial and non-financial services, La Riba Sultanah positions Muslim women to achieve economic independence while remaining aligned with their faith and values.
Speaking at the launch, Absa Bank Kenya Chief Finance Officer Yusuf Omari said, “La Riba Sultanah is designed to empower women without compromising their values. It reflects our continued efforts to support all segments of the economy by providing inclusive, ethical, and innovative financial solutions that enable our customers to thrive.”
“We are making deliberate efforts towards serving women who have historically been excluded from the financial ecosystem and active economic participation due to a lack of tailored financial solutions. Through Sultanah, we are bridging this gap by providing them with the right tools for financial management, savings, and investment that align with their faith, values, and ambitions.”
The launch coincided with the 2025 Absa Annual Islamic Conference in Nairobi, which convened scholars, industry leaders, and policymakers to deliberate on frameworks governing Islamic finance.
The event also featured the establishment of the Association of Shariah Compliant Services Providers of Kenya, intended to support advocacy, research, and policy development for Shariah-aligned financial services.
