nairobi kenya

Kenya’s Islamic Finance Drive To Tackle Taxes

KENYA’S plans to develop Islamic finance include a wideranging taxation review and the establishment of a national sharia board, steps which could set it ahead of other African countries aiming to develop the sector.

The country wants to build up the industry as part of a longterm plan to turn Nairobi into an international financial centre and as a way to help finance infrastructure projects by building commercial links across Africa and the Middle East.

Kenya’s decade-old Islamic finance sector includes two fullfledged Islamic banks and several Islamic windows, but until now they have operated by way of exemptions, and a lack of clear rules have stunted growth.


Limited free articles. Subscribe for full access.

Related Posts

The Turkey-Syria Earthquake

The devastating 7.8 magnitude earthquake, that hit along the Turkish-Syrian border on Monday, struck an area that was already home

Subscribe to our Magazine

“Muslim Ink is attractively designed with very informative articles… It is an entertaining and pleasant read which I would recommend all.”Dr. Bilal Philips
Founder & Chancellor of IOU