Absa Bank Launches Kenya’s First Fully Mobile Shariah-Compliant Banking Platform and New Islamic Card

Tariq Affan

Published: 10 July 2025

Absa Bank Launches Kenya’s First Fully Mobile Shariah-Compliant Banking Platform and New Islamic Card

Urban Shihemi , July 10, 2025 Absa Bank Kenya PLC has expanded its Shariah-compliant banking portfolio with the launch of two groundbreaking products La Riba Timiza, Kenya’s first fully mobile Islamic banking platform by a Tier 1 bank, and the Absa La Riba Card, a Shariah-compliant payment solution designed to enhance convenience and access for customers. The new offerings mark a strategic milestone for Absa Bank as it intensifies its push for financial inclusion and ethical banking by catering to diverse consumer needs through innovation and inclusive products. La Riba Timiza is a mobile-based banking solution that allows customers to save, make payments, and access instant short-term financing all in line with Islamic finance principles. The service can be accessed via the Timiza mobile app(available on Google Play and the App Store) or by dialing *USSD code 848# and selecting the La Riba option. The La Riba Card, meanwhile, provides a seamless everyday payment experience for individuals and businesses. It comes with a suite of benefits including unsecured financing, cashback rewards on local and international purchases, exclusive discounts, flexible repayment options, and premium access to international airport lounges. Speaking during the launch event in Nairobi, Absa Bank Kenya Managing Director and Chief Executive Officer Abdi Mohamed reaffirmed the bank’s long-standing commitment to Islamic banking and financial inclusion. “We take great pride in being the first bank in Kenya to pioneer Islamic banking 20 years ago, and now we are also the first Tier 1 bank to launch a fully Shariah-compliant mobile banking service,” said Mr. Mohamed. “La Riba banking provides a range of ethical, inclusive, and accessible financial solutions tailored to meet the needs of our Islamic customers and any customer who values Shariah principles. This launch reflects our belief that every story matters, and our goal is to empower customers on their financial journey while honoring their values,” he added. Both La Riba Timiza and the La Riba Card are structured on the Islamic principle of Murabaha, which prohibits the use of interest (riba). The solutions have been vetted and approved by Absa’s independent Shariah Board, ensuring full compliance with Islamic finance standards. The new offerings add to Absa’s growing suite of Shariah-compliant products. Last year, the bank opened its first flagship La Riba Centre at BBS Mall in Eastleigh, and launched Kenya’s first Shariah-compliant structured investment notes and Tawarruq, an unsecured Islamic personal lending product. Absa emphasized that La Riba banking is not exclusive to Muslims. The ethical financial model is also open to non-Muslims who value transparency, interest-free banking, and responsible financial practices. The bank’s focus on digital-first, inclusive banking aligns with Kenya’s highly digital population, with over 80% of citizens proficient in mobile technology. These innovations position Absa as a key player in ethical and accessible banking, at a time when the financial industry is increasingly aligning its services with sustainability, equity, and inclusion goals. About Absa Bank Kenya: Listed on the Nairobi Securities Exchange, Absa Bank Kenya is one of the country’s leading financial institutions with a presence in all 38 counties, operating 83 branches and 208 ATMs. It provides a full suite of retail, institutional, and digital financial services. Absa is known for market innovations such as Kenya’s first ATM, WhatsApp banking, and now, Kenya’s first Tier 1 fully mobile Shariah-compliant banking platform.

Absa Bank Launches Kenya’s First Fully Mobile Shariah-Compliant Banking Platform and New Islamic Card

Tariq Affan

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Absa Bank Launches Kenya’s First Fully Mobile Shariah-Compliant Banking Platform and New Islamic Card

Tariq Affan

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