Absa Bank Pioneers Women-Focused Ethical Banking with La Riba Sultanah
Nairobi, August 20, 2025 – Absa Bank Kenya PLC has unveiled La Riba Sultanah, the country’s first Shariah-compliant bank account tailored specifically for women entrepreneurs, marking a major step in advancing financial inclusion and ethical banking.
The account, launched during the 2025 Absa Annual Islamic Conference in Nairobi, seeks to empower women with financial independence, ethical banking solutions, and access to business growth opportunities.
It is part of Absa’s La Riba proposition, which is rooted in Islamic finance principles and designed for both Muslim and non-Muslim customers seeking ethical financial services.
Through La Riba Sultanah, women entrepreneurs will access Shariah-compliant savings and financing solutions, mentorship opportunities, networking platforms, and new markets through Absa’s business clubs and partner conferences.
The account is also complemented by a Shariah-compliant credit card offering enhanced benefits, including cashbacks, discounts, health and wellness packages, as well as education and career advancement programs.
Speaking at the launch, Absa Bank Kenya Chief Finance Officer Yusuf Omari emphasized the bank’s commitment to inclusivity.
“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,” said Mr. Omari.
He noted that women have historically been underserved in Kenya’s financial ecosystem, with limited access to tailored products that align with their needs.
“Through Sultanah, we are bridging this gap by providing women with the tools to manage finances, grow their savings, and invest in ways that resonate with their faith and ambitions,” he added.
The launch coincided with the establishment of the Association of Shariah Compliant Services Providers of Kenya, unveiled at the conference. The association will champion advocacy, research, and awareness on Islamic finance as a viable alternative for deepening financial inclusion.
Absa Bank pioneered Islamic banking in Kenya nearly two decades ago and has since introduced a range of Shariah-compliant products, including La Riba Timiza the country’s first fully mobile Islamic banking platform and the La Riba Card.
All La Riba products adhere strictly to Murabaha, the Islamic principle prohibiting interest, and are developed under the guidance of Absa’s independent Shariah Board. By expanding its offerings, Absa is reinforcing its position as a leader in ethical and inclusive banking.
