Absa Bank Kenya PLC has unveiled La Riba Sultanah, the country’s first Shariah-compliant bank account exclusively designed for women entrepreneurs. The product aims to promote financial independence and business growth while remaining rooted in ethical and inclusive banking values.
Commitment to Inclusion and Ethical Banking
The launch reflects Absa’s broader strategy to deepen financial inclusion under its sustainability pillar. The Sultanah account offers customers an opportunity to manage their finances, save, and access tailored financing solutions, all while staying aligned with their values. The account also provides mentorship, networking opportunities, and access to business markets through Absa’s business clubs and conferences.
Supporting Women Entrepreneurs
Speaking at the launch during the 2025 Absa Annual Islamic Conference in Nairobi, Absa Bank Kenya Chief Finance Officer Yusuf Omari emphasized the importance of inclusive banking for women.
“La Riba Sultanah is designed to empower women without compromising their values. We are bridging the gap for women who have historically been excluded from the financial ecosystem by providing them with tools for financial management, savings, and investment that align with their faith, values, and ambitions,” he said.
Value-Added Benefits
Beyond standard banking services, customers will enjoy access to a Shariah-compliant credit card featuring cashback offers, discounts, complimentary health check-ups, and wellness packages from partner clinics. They will also benefit from education and career advancement programs tailored to support personal and professional growth.
Aligning with Islamic Finance Growth
The launch coincided with the Absa Annual Islamic Conference, which gathered scholars, industry leaders, and policymakers to discuss the evolving legal framework for Islamic finance in Kenya. A key highlight of the event was the unveiling of the Association of Shariah Compliant Services Providers of Kenya, which will focus on advocacy, lobbying, research, and demystifying Islamic finance as a model for financial inclusion.
Two Decades of Leadership in Islamic Banking
Absa Bank has a long history in the sector, being the first bank to introduce Islamic banking in Kenya nearly two decades ago. Its La Riba offerings are based on Murabaha, an Islamic principle prohibiting interest-based transactions, and are vetted by the bank’s independent Shariah Board. While tailored to the Muslim community, these offerings are also available to non-Muslim customers seeking ethical banking solutions.
The Sultanah account follows other recent innovations under the La Riba banner, including La Riba Timiza, Kenya’s first fully mobile Shariah-compliant banking platform, and the Absa La Riba Card launched in July 2025.